Deutsche Bank Aktiengesellschaft Lowers State Street (NYSE:STT) Price Target to $79.00

State Street (NYSE:STT) had its target price decreased by Deutsche Bank Aktiengesellschaft from $80.00 to $79.00 in a research report sent to investors on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the asset manager’s stock.

A number of other brokerages have also recently commented on STT. Keefe, Bruyette & Woods dropped their price target on shares of State Street from $88.00 to $84.00 and set a market perform rating on the stock in a research note on Thursday, June 27th. Wells Fargo & Company increased their target price on State Street from $91.00 to $98.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. Barclays lifted their price target on State Street from $102.00 to $103.00 and gave the company an overweight rating in a research report on Wednesday, July 17th. The Goldman Sachs Group increased their price objective on State Street from $89.00 to $98.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Finally, Citigroup lifted their target price on State Street from $85.00 to $90.00 and gave the company a neutral rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $88.89.

State Street Price Performance

Shares of NYSE STT opened at $81.18 on Thursday. The firm has a market cap of $24.46 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. The stock has a fifty day simple moving average of $77.54 and a two-hundred day simple moving average of $75.46. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89. State Street has a 1-year low of $62.78 and a 1-year high of $86.25.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.12. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.17 EPS. Analysts anticipate that State Street will post 8.15 earnings per share for the current year.

State Street Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 3.74%. State Street’s payout ratio is 56.93%.

Institutional Investors Weigh In On State Street

A number of large investors have recently added to or reduced their stakes in STT. LRI Investments LLC purchased a new stake in shares of State Street in the 1st quarter valued at $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of State Street in the second quarter worth about $27,000. Norwood Financial Corp bought a new stake in shares of State Street in the 1st quarter valued at about $35,000. Versant Capital Management Inc lifted its stake in shares of State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares during the last quarter. Finally, Accent Capital Management LLC purchased a new stake in State Street during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.