Last Updated: 18 Sep 2024
Executive Summary
State Street Corp (STT) is a leading financial services and bank holding company with a market capitalization of $25.52 billion. The company has a strong track record of profitability and growth, with revenue increasing by 1.7% year-over-year in the latest quarter. STT is currently trading at $86.69, below its 52-week high of $87.27. The company has a forward PE ratio of 9.39 and a dividend yield of 0.0365%.
Company Overview
State Street Corporation is an American financial services and bank holding company headquartered in Boston, Massachusetts. The company provides a wide range of financial services, including asset management, investment servicing, and custody services. State Street has operations worldwide and is one of the largest asset managers in the world.
Fundamental Analysis
STT has a strong financial profile, with a profit margin of 15% and a return on equity of 7.38%. The company's revenue is well-diversified across different business lines, and it has a strong track record of generating consistent earnings. STT's balance sheet is also strong, with a low level of debt and a high level of liquidity.
Technical Analysis
STT is currently trading below its 50-day and 200-day moving averages. The stock has been in a downtrend since early 2023, and it has recently broken below a key support level at $85. The technical indicators are bearish, and they suggest that the stock could continue to decline in the short term.
Short Term Outlook
The short-term outlook for STT is negative. The stock is trading below its moving averages and has broken below a key support level. The technical indicators are bearish, and they suggest that the stock could continue to decline in the short term.
Long Term Outlook
The long-term outlook for STT is more positive. The company has a strong financial profile and a track record of consistent earnings growth. The company's revenue is well-diversified across different business lines, and it has a strong track record of generating consistent earnings. STT's balance sheet is also strong, with a low level of debt and a high level of liquidity.
Analyst Recommendations
The majority of analysts have a buy or hold rating on STT. The average analyst target price is $92.36, which represents a potential upside of 6.5% from the current price.
