Keefe, Bruyette & Woods upgraded State Street Corp (NYSE:STT) to Market Perform in a report released today.
- Updated: October 9, 2016
Keefe, Bruyette & Woods has upgraded State Street Corp (NYSE:STT) to Market Perform in a report released on 10/05/2016.
Previously on 9/9/2016, Deutsche Bank reported about State Street Corp (NYSE:STT) raised the target price from $70.00 to $73.00. At the time, this indicated a possible upside of 0.03%.
Yesterday State Street Corp (NYSE:STT) traded -0.33% lower at $71.35. The company’s 50-day moving average is $70.11 and its 200-day moving average is $62.69. The last stock close price is up 15.27% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 1,913,377 shares of the stock were exchanged, down from an average trading volume of 2,313,680
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State Street Corp has a 52 week low of $50.60 and a 52 week high of $75.40 with a P/E ratio of 14.74 The company’s market cap is currently $0.
In addition to Keefe, Bruyette & Woods reporting its target price, a total of 18 firms have reported on the stock. The consensus target price is $64.28 with 3 firms rating the stock a strong buy, 4 firms rating the stock a buy, 11 firms rating the stock a hold, 3 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.
About State Street Corp (NYSE:STT)
State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world. Its clients include mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers. It has approximately two lines of business: Investment Servicing and Investment Management. Its Investment Servicing line of business performs core custody and related value-added functions, such as providing institutional investors with clearing, payment and settlement services. Its Investment Management services through State Street Global Advisors (SSGA). SSGA provides a range of investment management, investment research and investment advisory services.
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