Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for State Street (NYSE:STT) Stock

State Street (NYSE:STT) had its target price lifted by Deutsche Bank Aktiengesellschaft from $90.00 to $95.00 in a research note released on Monday,Benzinga reports. They currently have a hold rating on the asset manager’s stock.

A number of other research firms have also issued reports on STT. Wells Fargo & Company boosted their target price on shares of State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI upped their price objective on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their target price on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price target on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group raised their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $91.96.

State Street Price Performance

State Street stock opened at $94.18 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $27.61 billion, a P/E ratio of 14.88, a PEG ratio of 1.18 and a beta of 1.46. The firm has a fifty day moving average of $89.58 and a 200-day moving average of $81.89. State Street has a 52-week low of $68.92 and a 52-week high of $98.45.

State Street (NYSE:STT) last posted its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 earnings per share. As a group, analysts predict that State Street will post 8.42 EPS for the current year.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of State Street

A number of institutional investors and hedge funds have recently made changes to their positions in STT. LRI Investments LLC bought a new position in State Street during the 1st quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new position in shares of State Street during the second quarter worth about $27,000. Versant Capital Management Inc increased its holdings 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 worth $38,000 after acquiring an additional 416 shares during the period. Coastline Trust Co bought a new stake in State Street in the 3rd quarter valued at about $44,000. Finally, Trust Co. of Vermont boosted its stake in State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 200 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.