Market Analysts see State Street Corporation [STT] gaining to $98. Time to buy?

State Street Corporation [NYSE: STT] loss -4.33% on the last trading session, reaching $82.84 price per share at the time. The company report on March 3, 2023 that State Street Corporation Announces Date for Release of First-Quarter 2023 Financial Results and Conference Call Webcast.

State Street Corporation (NYSE: STT) plans to announce its first-quarter 2023 financial results on Monday, April 17, 2023 at approximately 7:30 a.m. ET. The results will be reviewed via webcast and teleconference at 9:00 a.m. ET.

The conference call will be accessible via audio webcast on State Street’s Investor Relations website, http://investors.statestreet.com, and by telephone at (+1) 888-886-7786 (Conference ID: 24159898). Materials will be available on State Street’s Investor Relations website prior to the call.

State Street Corporation represents 359.14 million in outstanding shares, while the company has a total market value of $28.02 billion with the latest information. STT stock price has been found in the range of $82.40 to $86.41.

If compared to the average trading volume of 2.79M shares, STT reached a trading volume of 3331483 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about State Street Corporation [STT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for STT shares is $95.79 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on STT stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for State Street Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 27, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price to Neutral. The new note on the price target was released on January 12, 2023, representing the official price target for State Street Corporation stock. Previously, the target price had yet another raise to $87, while New Street analysts kept a Neutral rating on STT stock.

The Average True Range (ATR) for State Street Corporation is set at 2.29, with the Price to Sales ratio for STT stock in the period of the last 12 months amounting to 6.86. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 400.90. Price to Free Cash Flow for STT in the course of the last twelve months was 2.70.

Trading performance analysis for STT stock

State Street Corporation [STT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.68. With this latest performance, STT shares dropped by -10.62% in over the last four-week period, additionally plugging by 18.78% over the last 6 months – not to mention a rise of 4.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for STT stock in for the last two-week period is set at 33.07, with the RSI for the last a single of trading hit 24.82, and the three-weeks RSI is set at 39.69 for State Street Corporation [STT]. The present Moving Average for the last 50 days of trading for this stock 86.79, while it was recorded at 87.34 for the last single week of trading, and 74.27 for the last 200 days.

State Street Corporation [STT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and State Street Corporation [STT] shares currently have an operating margin of +26.78. State Street Corporation’s Net Margin is presently recorded at +21.73.

Return on Equity for this stock inclined to 10.56, with Return on Assets sitting at 0.90.

State Street Corporation [STT]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for STT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for State Street Corporation go to 9.30%.

An analysis of insider ownership at State Street Corporation [STT]

There are presently around $26,173 million, or 91.60% of STT stock, in the hands of institutional investors. The top three institutional holders of STT stocks are: VANGUARD GROUP INC with ownership of 34,631,367, which is approximately 0.932% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 27,698,671 shares of the stock with an approximate value of $2.29 billion in STT stocks shares; and DODGE & COX, currently with $1.82 billion in STT stock with ownership of nearly -0.497% of the company’s market capitalization.

Positions in State Street Corporation stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 403 institutional holders increased their position in State Street Corporation [NYSE:STT] by around 12,402,295 shares. Additionally, 388 investors decreased positions by around 26,312,217 shares, while 164 investors held positions by with 277,226,218 shares. The mentioned changes placed institutional holdings at 315,940,730 shares, according to the latest SEC report filing. STT stock had 128 new institutional investments in for a total of 2,076,123 shares, while 62 institutional investors sold positions of 2,465,377 shares during the same period.