State Street Corp Gets a Hold Rating from RBC Capital

By Austin Angelo

RBC Capital analyst Gerard Cassidy reiterated a Hold rating on State Street Corp (NYSE: STT) on June 22 and set a price target of $86. The company’s shares closed yesterday at $87.24, close to its 52-week high of $89.95.

According to, Cassidy is a top 25 analyst with an average return of 27.6% and a 80.7% success rate. Cassidy covers the Financial sector, focusing on stocks such as Provident Financial Services, Discover Financial Services, and Huntington Bancshares Inc.

Currently, the analyst consensus on State Street Corp is Moderate Buy and the average price target is $89.71, representing a 2.8% upside.

In a report issued on June 19, Jefferies also reiterated a Hold rating on the stock with a $87 price target.

State Street Corp’s market cap is currently $32.83B and has a P/E ratio of 16.34. The company has a book value ratio of 1.8142.

Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is negative on the stock. Most recently, in July 2015, Saint-Aignan Patrick De, a Director at STT bought 500 shares for a total of $36,975.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The company operates through following business: Investment Servicing and Investment Management. The Investment Servicing 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 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. State Street was founded in 1969 and is headquartered in Boston, MA.,000WX2-E