First Interstate Bank Has $124,000 Stake in State Street Corporation (STT)

First Interstate Bank maintained its stake in State Street Corporation (NYSE:STT) during the first quarter, Holdings Channel reports. The firm owned 1,563 shares of the asset manager’s stock at the end of the first quarter. First Interstate Bank’s holdings in State Street Corporation were worth $124,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. FTB Advisors Inc. increased its stake in State Street Corporation by 15.7% in the first quarter. FTB Advisors Inc. now owns 1,523 shares of the asset manager’s stock worth $127,000 after buying an additional 207 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in State Street Corporation during the first quarter worth approximately $123,000. Pinnacle Bank acquired a new stake in State Street Corporation during the first quarter worth approximately $129,000. Advisory Services Network LLC acquired a new stake in State Street Corporation during the first quarter worth approximately $177,000. Finally, IFP Advisors Inc increased its stake in State Street Corporation by 40.0% in the first quarter. IFP Advisors Inc now owns 2,373 shares of the asset manager’s stock worth $189,000 after buying an additional 678 shares during the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Institutional Ownership by Quarter for State Street Corporation (NYSE:STT)

State Street Corporation (STT) traded down 0.38% on Tuesday, reaching $89.18. 102,583 shares of the company’s stock traded hands. The firm has a market cap of $33.55 billion, a price-to-earnings ratio of 16.68 and a beta of 1.33. State Street Corporation has a 52-week low of $50.60 and a 52-week high of $89.95. The stock’s 50 day moving average is $83.78 and its 200 day moving average is $80.46.

State Street Corporation (NYSE:STT) last announced its earnings results on Wednesday, April 26th. The asset manager reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. State Street Corporation had a net margin of 20.54% and a return on equity of 12.38%. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the company posted $0.98 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts predict that State Street Corporation will post $5.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Monday, July 3rd will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. State Street Corporation’s dividend payout ratio (DPR) is presently 28.46%.

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A number of research firms recently commented on STT. Jefferies Group LLC reiterated a “hold” rating and issued a $87.00 target price on shares of State Street Corporation in a report on Monday. BidaskClub upgraded shares of State Street Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Evercore ISI downgraded shares of State Street Corporation from a “hold” rating to an “underperform” rating and set a $82.00 target price on the stock. in a report on Friday, March 3rd. Deutsche Bank AG dropped their target price on shares of State Street Corporation from $85.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, April 6th. Finally, Keefe, Bruyette & Woods set a $88.00 target price on shares of State Street Corporation and gave the stock a “hold” rating in a report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. State Street Corporation presently has an average rating of “Hold” and an average target price of $84.86.

In other news, EVP Karen C. Keenan sold 1,000 shares of State Street Corporation stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $78.56, for a total value of $78,560.00. Following the sale, the executive vice president now directly owns 60,934 shares in the company, valued at $4,786,975.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Joseph L. Hooley sold 5,666 shares of State Street Corporation stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $87.88, for a total transaction of $497,928.08. The disclosure for this sale can be found here. Insiders sold 14,069 shares of company stock worth $1,201,189 over the last quarter. 0.64% of the stock is owned by corporate insiders.

State Street Corporation Company Profile

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.

Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Corporation (NYSE:STT).

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