State Street Corp. (NYSE:STT) finished Friday with a subtraction of -$0.6 to close at $66.96, a downside of -0.89 percent. An average of 1,438,340 shares of common stock have been traded in the last five days. There was a fall of -$0.85 in the past week, and it reached a new high 31 times over the past 12 months. The last 20 days have seen an average of 2,099,300 shares traded, while the 50-day average volume stands at 2,223,916.
STT stock has decreased by -2.18% in the last month. The company shares reached their 1-month lowest point of $66.22 on 09/27/23. With the stock rallying to its 52-week high on 02/14/23, shares of the company touched a low of $58.62 and a high of $94.74 in 52 weeks. It has reached a new high 17 times so far this year and lost -13.68% or -$10.61 in price. In spite of this, the price is down -29.32% from the 52-week high.
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Insider Transactions
STT stock investors should be aware that State Street Corp. (STT) stock had its last reported insider trading activity 40 days ago on Aug 21. In this transaction, the insider spent $797,951. EVP and Chief Admin Officer, RICHARDS MICHAEL L, disposed of 61 shares at a price of $69.21 on Aug 16. The insider now owns more than $4,222 worth of shares. Prior to that, President and COO Maiuri Louis D went on to Sale 8,800 shares at $71.96 each on Aug 01. An amount of $633,248 was transacted.
Valuation Metrics
State Street Corp. (STT) has a trailing price-to-earnings (P/E) ratio of 9.04. The stock’s beta is 1.57. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.36, the price-to-book (PB) ratio at 0.97, and the price-to-cash flow ratio at 4.96.
The company has a payout ratio of 33.39%. The company’s most recent quarterly dividend payment was $0.69 a share, representing a up of 9.52% from $0.63 last year.
Financial Health
Further, the company has a long term debt to equity ratio of 0.71 and a total debt to equity ratio of 0.89 for the quarter ending June 29. Its gross profit as reported stood at $2.54 billion compared to revenue of $4.09 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, State Street Corp.’s return on assets was 0.92%.
Earnings Surprise
For the three-month period that ended June 29, State Street Corp. had $12.03 billion in total debt. The analyst consensus anticipated State Street Corp.’s latest quarter earnings to come in at $2.1 per share, but it turned out to be $2.17, a 3.30% surprise. At the end of the quarter ending June 29, State Street Corp.’s stock balance sheet showed total debt was $40.37 billion. Shareholders own equity worth $318.64 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at State Street Corp. (STT) price momentum. RSI 9-day as of the close on 29 September was 32.17%, suggesting the stock is Neutral, with historical volatility in this time frame at 9.97%.
As of today, STT’s price is $67.15 -1.25% or -$0.85 from its 5-day moving average. STT is currently trading -2.59% lower than its 20-day SMA and -3.05% lower than its 100-day SMA. However, the stock’s current price level is -4.81% below the SMA50 and -16.57% below the SMA200.
The stochastic %K and %D were 11.99% and 8.95%, respectively, and the average true range (ATR) was 1.34. With the 14-day stochastic at 11.73% and the average true range at 1.42, the RSI (14) stands at 36.86%. The stock has reached -0.97 on the 9-day MACD Oscillator while the 14-day reading was at -2.25.
Analyst Ratings
UBS downgraded State Street Corp. (NYSE: STT) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for State Street Corp. (STT) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell STT, while 12 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 others rate it as a “buy”.
What is STT’s price target for the next 12 months?
Analysts predict a range of price targets between $66.00 and $87.00, with a median target of $74.50. Taking a look at these predictions, the average price target given by analysts for State Street Corp. (STT) stock is $75.22.
