In a report released today, Betsy Graseck from Morgan Stanley maintained a Sell rating on State Street (STT), with a price target of $56.00. The company’s shares closed last Monday at $49.04, close to its 52-week low of $42.10.
According to TipRanks.com, Graseck is a 4-star analyst with an average return of 4.4% and a 54.2% success rate. Graseck covers the Financial sector, focusing on stocks such as Discover Financial Services, Santander Consumer USA, and Capital One Financial.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for State Street with a $77.00 average price target.
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Based on State Street’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.71 billion and net profit of $564 million. In comparison, last year the company earned revenue of $2.73 billion and had a net profit of $437 million.
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State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The company operates through following business lines: Investment Servicing and Investment Management. The Investment Servicing business offers custody, product and participant-level accounting, daily pricing and administration, master trust and master custody, record-keeping, cash management, foreign exchange, brokerage and other trading services, securities finance, deposit and short-term investment facilities, loans and lease financing, investment manager and alternative investment manager operations outsourcing, and performance, risk and compliance analytics. The Investment Management business provides services through State Street Global Advisors, which provides a broad array of investment management, investment research and investment advisory services to corporations, public funds and other sophisticated investors. It offers strategies for managing financial assets, including passive and active, such as enhanced indexing, using quantitative and fundamental methods for both the U.S. and global equities and fixed-income securities. The company was founded in 1969 and is headquartered in Boston, MA.
