State Street Corporation (STT) has been generating significant market action ranging from its financial position to price target revisions. Several entities, including Empowered Funds LLC, Vanguard Group Inc., and Entropy Technologies LP, have notably changed their stock positions in State Street. The firm has outpaced Q2 2024 earnings and revenue estimates, subsequently leading to raised price targets by investment banks such as Wells Fargo, Goldman Sachs, Bank of America, and Royal Bank of Canada. State Street's dividends on common and non-cumulative perpetual preferred stock series have led to optimism among investors. The company is also reportedly considering the creation of its own stablecoin. Following the strong earnings record in Q2, the stock price reached a new 1-year high. There have been raised estimates for State Street's projected EPS for FY2024 and Q3 2024.
The company has experienced share acquisition from entities like US Bancorp DE, Mitsubishi UFJ Asset Management Co., and Meeder Asset Management Inc. Analysts and investors have touted STT as a great dividend, value, and momentum stock. The firm's financial resilience is encapsulated in its Q2 earnings beat with booming management fees and asset growth. A planned 10% dividend increase and a preliminary stress capital buffer requirement were announced, further emphasizing State Street's financial fortitude.
State Street Corporation STT News Analytics from Mon, 06 Nov 2023 15:51:12 GMT to Sun, 21 Jul 2024 22:37:14 GMT - Rating 8 - Innovation 6 - Information 9 - Rumor -2
