State Street Corporation (NYSE: STT) is -13.59% lower on its value in year-to-date trading and has touched a low of $58.62 and a high of $94.74 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The STT stock was last observed hovering at around $68.37 in the last trading session, with the day’s loss setting it -1.34% off its average median price target of $82.50 for the next 12 months. It is also 32.97% off the consensus price target high of $100.00 offered by 19 analysts, but current levels are 1.43% higher than the price target low of $68.00 for the same period.
Currently trading at $67.03, the stock is -2.66% and -7.57% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.81 million and changing -1.96% at the moment leaves the stock -11.59% off its SMA200. STT registered -3.87% loss for a year compared to 6-month loss of -12.50%.
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The stock witnessed a -5.08% gain in the last 1 month and extending the period to 3 months gives it a -23.05%, and is -2.09% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.11% over the week and 2.47% over the month.
State Street Corporation (STT) has around 42786 employees, a market worth around $22.75B and $5.59B in sales. Current P/E ratio is 9.39 and Fwd P/E is 7.78. Profit margin for the company is 46.50%. Distance from 52-week low is 14.36% and -29.24% from its 52-week high. The company has generated returns on investments over the last 12 months (5.20%).
State Street Corporation (STT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for State Street Corporation (STT) is a “Overweight”. 19 analysts offering their recommendations for the stock have an average rating of 2.40, where 10 rate it as a Hold and 2 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
State Street Corporation is expected to release its quarterly report on 07/14/2023.The EPS is expected to shrink by 0.00% this year
State Street Corporation (STT) Top Institutional Holders
The shares outstanding are 341.11M, and float is at 332.75M with Short Float at 1.28%.
State Street Corporation (STT) Insider Activity
A total of 51 insider transactions have happened at State Street Corporation (STT) in the last six months, with sales accounting for 27 and purchases happening 24 times. The most recent transaction is an insider sale by Aboaf Eric W., the company’s Vice Chairman and CFO. SEC filings show that Aboaf Eric W. sold 11,899 shares of the company’s common stock on May 19 at a price of $68.28 per share for a total of $0.81 million. Following the sale, the insider now owns 0.16 million shares.
State Street Corporation disclosed in a document filed with the SEC on May 19 that RICHARDS MICHAEL L (EVP and Chief Admin Officer) sold a total of 319 shares of the company’s common stock. The trade occurred on May 19 and was made at $69.68 per share for $22228.0. Following the transaction, the insider now directly holds 32878.0 shares of the STT stock.
Still, SEC filings show that on May 18, RICHARDS MICHAEL L (EVP and Chief Admin Officer) disposed off 1,814 shares at an average price of $68.17 for $0.12 million. The insider now directly holds 33,197 shares of State Street Corporation (STT).
State Street Corporation (STT): Who are the competitors?
The company’s main competitors (and peers) include Bank of America Corporation (BAC) that is trading -21.66% down over the past 12 months and Morgan Stanley (MS) that is -1.32% lower over the same period. The Goldman Sachs Group Inc. (GS) is 1.01% up on the 1-year trading charts.
