에 대한 최신 뉴스 State Street (NYSE:STT) 주식

State Street

State Street is a leading provider of financial services, including investment servicing, investment management, and investment research and trading. With approximately $42 trillion in assets under custody and administration and $4.1 trillion assets under management as of Dec. 31, 2023, State Street operates globally in more than 100 geographic markets and employs more than 46,000 worldwide.

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이들 10개 대형주는 지난주 최고의 성과를 거두었다. 그것들이 당신의 포트폴리오에 있나요?

워너 브라더스와 코인베이스는 지난주 최고 성과를 보여준 10개 대형주 중 일부 (7월 14일-7월 20일)

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월스트리트가 2분기 실적 시즌을 준비함에 따라 7월 12일 금요일에 결과를 발표할 3대 주요 은행에 모두 주목하고 있다: JP모건 체이스(NYSE:JPM), 씨티그룹(NYSE:C) 그리고 웰스파고(NYSE:WFC).

은행 실적 미리보기: 분석가는 3개의 선호 종목을 공개하며, JP모건과 두 은행을 하향 조정

State Street Corp

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Standard Uranium Ltd Ordinary Shares

STANDARD URANIUM LTD by Standard Uranium Ltd.

Standard Uranium Ltd

SMARTONE TELECOMM HLDGS by SmarTone Telecommunications Holdings Ltd.

SmarTone Telecommunications Holdings Ltd

Shattuck Labs Inc

STRUCTURAL MONITORING SYS by Structural Monitoring Systems PLC

SITO Mobile Ltd

SCHOTT PHARMA AG&CO KGAA by SCHOTT PHARMA AG & CO KGAA

Schott Pharma AG & CO KGaA

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STRATEX OIL & GAS HLDG by Stratex Oil & Gas Holdings, Inc.

Stratex Oil & Gas Holdings Inc

STATE STREET ORD

State Street Corporation Depositary shares, each representing a 1/4,000th ownership interest in a share of Fixed-to-Floating Rate Non-Cumulative

Morgan Stanley analyst Connor Lynagh maintains State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) with a Equal-Weight and raises the price target from $93 to $100.

Analyst Ratings

Morgan Stanley Maintains Equal-Weight on State Street, Raises Price Target to $100

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Bernstein raised the price target for Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) from $92 to $115. Bernstein analyst Danilo Gargiulo upgraded the stock from Market Perform to Outperform. Starbucks shares rose 1.2% to close at $95.62 on Wednesday. <a href="https://www.benzinga.com/quote/SBUX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JMP Securities increased the price target for Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) from $550 to $635. JMP Securities analyst Andrew Boone maintained a Market Outperform rating. Meta shares gained 0.9% to close at $568.31 on Wednesday. <a href="https://www.benzinga.com/quote/META/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc raised Crocs, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NYSE">CROX</a>) price target from $149 to $155. Keybanc analyst Ashley Owens maintained an Overweight rating. Crocs shares fell 1.2% to close at $143.04 on Wednesday. <a href="https://www.benzinga.com/quote/CROX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird boosted McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) price target from $280 to $320. Baird analyst David Tarantino maintained an Outperform rating. McDonald&#8217;s shares rose 0.1% to close at $300.47 on Wednesday. <a href="https://www.benzinga.com/quote/MCD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird raised Cintas Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) price target from $194 to $209. Baird analyst Andrew Wittmann maintained a Neutral rating. Cintas shares gained 1.2% to close at $207.21 on Wednesday. <a href="https://www.benzinga.com/quote/CTAS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc raised the price target for On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) from $47 to $60. Keybanc analyst Ashley Owens maintained an Overweight rating. On Holding fell 0.7% to close at $50.20 on Wednesday. <a href="https://www.benzinga.com/quote/ONON/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital raised Lightspeed Commerce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LSPD#NYSE">LSPD</a>) price target from $18 to $20. BMO Capital analyst Thanos Moschopoulos maintained an Outperform rating. Lightspeed Commerce shares jumped 12.9% to close at $15.68 on Wednesday. <a href="https://www.benzinga.com/quote/LSPD/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler raised the price target for Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) from $270 to $305. Piper Sandler analyst Charles Neivert maintained an Overweight rating. Ecolab shares gained 0.2% to close at $254.82 on Wednesday. <a href="https://www.benzinga.com/quote/ECL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Benchmark raised Flutter Entertainment plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>) price target from $255 to $265. Benchmark analyst Mike Hickey maintained a Buy rating. Flutter Entertainment shares gained 5.1% to close at $239.86 on Wednesday. <a href="https://www.benzinga.com/quote/FLUT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs increased State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) price target from $98 to $100. Goldman Sachs analyst Alexander Blostein maintained a Buy rating. State Street shares fell 0.5% to close at $88.50 on Wednesday. <a href="https://www.benzinga.com/quote/STT/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying META stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="514" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/26084433/image-213-1024x514.png" alt="" class="wp-image-567631" style="width:586px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/26084433/image-213-1024x514.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/26084433/image-213-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/26084433/image-213-768x386.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/26084433/image-213.png 1316w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Meta To Rally Around 12%? Here Are 10 Top Analyst Forecasts For Thursday

Goldman Sachs analyst Alexander Blostein maintains State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) with a Buy and raises the price target from $98 to $100.

Goldman Sachs Maintains Buy on State Street, Raises Price Target to $100

Analysts' ratings for State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) over the last quarter vary from bullish to bearish, as provided by 15 analysts.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for State Street, revealing an average target of $89.07, a high estimate of $103.00, and a low estimate of $73.00. Marking an increase of 3.05%, the current average surpasses the previous average price target of $86.43. 
<img src="https://www.benzinga.com/files/images/story/2024/1727100028_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive State Street. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$87.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Hold</td>
<td>$79.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Keith Horowitz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$90.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Mike Mayo</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$98.00</td>
<td>$91.00</td>
</tr>
<tr>
<td>Connor Lynagh</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$93.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Alexander Blostein</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$98.00</td>
<td>$89.00</td>
</tr>
<tr>
<td>Jason Goldberg</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$103.00</td>
<td>$102.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$80.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$91.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$91.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Ebrahim Poonawala</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Underperform</td>
<td>$96.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Steven Chubak</td>
<td>Wolfe Research</td>
<td>Announces</td>
<td>Underperform</td>
<td>$73.00</td>
<td>-</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$88.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$85.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$84.00</td>
<td>$88.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to State Street. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of State Street compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for State Street's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of State Street's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/STT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on State Street analyst ratings.</a>
<h2>Discovering State Street: A Closer Look</h2>
State Street is a leading provider of financial services, including investment servicing, investment management, and investment research and trading. With approximately $42 trillion in assets under custody and administration and $4.1 trillion assets under management as of Dec. 31, 2023, State Street operates globally in more than 100 geographic markets and employs more than 46,000 worldwide.
<h3>Understanding the Numbers: State Street's Finances</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: State Street's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 2.6%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 20.53%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): State Street's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 2.96%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.2%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: With a high debt-to-equity ratio of 1.49, State Street faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
Breaking: Wall Street's Next Big Mover
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into State Street Stock: Analyst Perspectives (15 Ratings)

Deutsche Bank analyst Brian Bedell maintains State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) with a Hold and raises the price target from $79 to $87.

Deutsche Bank Maintains Hold on State Street, Raises Price Target to $87

Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) shares are trading lower on Wednesday. On Tuesday, Apollo Global Management partnered with State Street Corporation&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) State Street Global Advisors to broaden investor <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40792241/state-street-global-advisors-and-apollo-global-management-join-forces-to-increase-and-broaden-inve" rel="noreferrer noopener">access to private market opportunities</a>.
This partnership between Apollo and State Street Global Advisors aims to broaden access to private markets and offer investment opportunities.
By leveraging their combined strengths, the companies will enhance investor access to the private credit market.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39988603/apollo-bets-6-3b-on-gaming-industry-with-igt-and-everi-deal" rel="noreferrer noopener">Apollo Bets $6.3B on Gaming Industry with IGT and Everi Deal</a>
As of June 30, 2024, Apollo reported over $145 billion in origination over the past year, driven by its credit business and a network of 16 standalone platforms.
Marc Rowan, co-founder and chief executive officer of Apollo Global Management, said, &#8220;At Apollo, we believe investors will increasingly supplement their portfolios with private fixed income and equity strategies as they seek to build resilient and diversified portfolios to serve their retirement and investment needs.&#8221;
Last week, Apollo disclosed that its Aligned Alternatives platform has agreed to acquire Beequip, a Netherlands-<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40724513/apollo-to-acquire-dutch-equipment-leasing-specialist-beequip-from-nibc" rel="noreferrer noopener">based equipment leasing specialist, from NIBC</a>.
Investors can gain exposure to the BX stock via&nbsp;EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/LBO#BATS">LBO</a>) and&nbsp;Fidelity Disruptive Finance ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDFF#NASDAQ">FDFF</a>).
Price Action: APO shares are down 1.73% at $104.90 at the last check Wednesday.
Image via Unsplash/ Headway
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

FDFF

Apollo And State Street Team Up to Unlock Private Market Fortunes: Details

State Street Global Advisors Is Working With Apollo To Expand Investor Access To Private Asset Exposure Through ETFs And Other Investment Products Advised By State Street

&quot;This partnership is very important for State Street,&quot; said Stefan Gmuer, head of Asia Pacific and head of Strategic Business Growth at State Street. &quot;The mandate reaffirms our front to back proposition which brings value, scale and efficiency to our clients who are looking to accelerate their own growth and transformation. It also further cements our position as a leading provider of choice for large, sophisticated transactions.&quot;
Challenger will be one of the largest investment managers in the region to deploy the State Street Alpha&reg;&nbsp;platform, an asset servicing platform integrating the front, middle and back office from a single provider.

Reported Earlier, State Street Chosen By Challenger To Manage Custody And Investment Administration For Multi-Billion-Dollar Portfolio

All investors love getting big returns from their portfolio, whether it&#39;s through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.
Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company&#39;s earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
<h2>State Street Corporation in Focus</h2>
Headquartered in Boston, State Street Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stt#NYSE">STT</a>) is a Finance stock that has seen a price change of 10.35% so far this year. The company is paying out a dividend of $0.69 per share at the moment, with a dividend yield of 3.23% compared to the Banks - Major Regional industry&#39;s yield of 3.32% and the S&amp;P 500&#39;s yield of 1.56%.
Looking at dividend growth, the company&#39;s current annualized dividend of $2.76 is up 4.5% from last year. State Street Corporation has increased its dividend 4 times on a year-over-year basis over the last 5 years for an average annual increase of 7.56%. Future dividend growth will depend on earnings growth as well as payout ratio, which is the proportion of a company&#39;s annual earnings per share that it pays out as a dividend. Right now, State Street&#39;s payout ratio is 35%, which means it paid out 35% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, STT expects solid earnings growth. The Zacks Consensus Estimate for 2024 is $8.13 per share, which represents a year-over-year growth rate of 6.14%.
<h2>Bottom Line</h2>
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. However, not all companies offer a quarterly payout.
For instance, it&#39;s a rare occurrence when a tech start-up or big growth business offers their shareholders a dividend. It&#39;s more common to see larger companies with more established profits give out dividends. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that STT is not only an attractive dividend play, but also represents a compelling investment opportunity with a Zacks Rank of #2 (Buy).
<a href="https://www.zacks.com/stock/news/2328410/state-street-corporation-stt-is-a-top-dividend-stock-right-now-should-you-buy?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_5-2328410">To read this article on Zacks.com click here.</a>

Earnings

Dividends

State Street Corporation is a Top Dividend Stock Right Now: Should You Buy?

U.S. Bancorp&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>) shares have gained 12% in the past three months, outperforming the industry&#39;s growth of 5.1% and the S&amp;P 500&#39;s rise of 5.8%. USB is currently trading just 1% off its 52-week high of $45.88 hit on Jul 30.&nbsp;
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/7a/75446.jpg?v=1073431410" />
Image Source: Zacks Investment Research
The company&#39;s inorganic growth move and strong balance sheet will support its financials in the long term.
Analyst Estimates: Over the past seven days, the Zacks Consensus Estimate for earnings per share of $3.89 and $4.23 has remained unchanged for 2024 and 2025, respectively. Although the metrics indicate a decline of 9.74% in 2024, it will rebound and grow 8.7% in 2025.
Now let&#39;s discuss some key factors that could provide further impetus to USB stock.
Inorganic Expansion to Drive Growth: U.S. Bancorp has made several strategic acquisitions in the last few years, which have opened up new markets for the company while fortifying its existing markets.
In August 2024, USB&#39;s lead banking division, U.S. Bank, prolonged its focus on the healthcare industry with the acquisition of Salucro Healthcare Solutions LLC. The buyout was completed on Aug 21, 2024.&nbsp;In the same month, U.S. Bank entered into a strategic partnership with Edward Jones. The collaboration is intended to offer comprehensive banking and credit card solutions to Edward Jones clients.
In 2022, U.S. Bancorp completed the acquisition of MUFG Union Bank&#39;s core regional banking franchise, expanding its branch network and enjoying greater access to digital banking tools. In 2023, cost synergies of $900 million were realized from this merger.
Overall, these strategic acquisitions and partnerships are likely to bolster U.S. Bancorp&#39;s market position, diversify its revenue streams and drive long-term growth.
Fed&#39;s Rate Cut Decision to Aid Financial: The Fed chairman, Jerome Powell, signaled that the central bank will start cutting interest rates beginning September. This is a positive development for banks, including USB, reeling under high funding cost pressure. At present, interest rates are at a 23-year high of 5.25-5.5% and acting like a double-edged sword for the banks. While high rates have led to a significant jump in NII, they have driven up funding costs, thus squeezing banks&#39; margins.
U.S. Bancorp&#39;s NII witnessed a four-year compound annual growth rate (CAGR) of 7.5% through 2019-2023. The metric witnessed a decline in the first half of 2024 due to rising funding costs. Also, net interest margin witnessed a downward trend in the first half of 2024.
As the Fed begins rate cuts, it will likely lead the funding costs to stabilize, thus supporting USB&#39;s NII. Also, lower interest rates are expected to encourage consumers and businesses to borrow. Such increased loan activity can result in larger profitability for U.S. Bancorp as it can earn more interest on these loans.
Strong Balance Sheet Position: U.S. Bancorp has a strong balance sheet. As of Jun 30, 2024, the company had a long-term debt of $52.72 billion. Cash and due from banks was $65.83 billion as of the same date, reflecting a strong liquidity position.
It enjoys long-term investment-grade credit ratings of A, A+, and A3 from Standard &amp; Poor&#39;s, Fitch, and Moody&#39;s, respectively. This renders U.S. Bancorp&#39;s favorable access to debt at attractive rates. Hence, with a record of impressive earnings strength and decent cash levels, it carries low credit risk and has a lesser likelihood of defaulting interest and debt repayments if the economic situation worsens.
Strong Capital Position: U.S. Bancorp&#39;s focus on maintaining a strong capital position will support its capital distribution activities. As of Jun 30, 2024, the company&#39;s capital ratios remain at a decent level, with a Common Equity Tier 1 ratio and a total risk-based capital ratio of 10.3% and 14%, respectively.
In June 2024, USB announced its plan to increase dividends by 2% to 50 cents per share, effective in the fourth quarter of 2024. The company increased its dividend four times in the past five years. Currently, its payout ratio is 50% of earnings.
Through stable dividend payouts, the company will boost investor&#39;s confidence in the stock.
<h2>Few Concerns Prevail</h2>
Mounting Expenses: Rising costs remain a concern for U.S. Bancorp. The company&#39;s non-interest expenses saw a CAGR of 10% over the last four years (2019-2023). This primarily stemmed from higher merger and integration charges, compensation and employee benefits, net occupancy and equipment expenses, as well as technology and communications expenditures. Although non-interest expenses declined in the first half of 2024, any further rise in technology-led initiatives will likely elevate the company&#39;s cost base, which is likely to hinder bottom-line growth.
Lack of Loan Portfolio Diversification: A significant part of U.S. Bancorp&#39;s loan portfolio &mdash; 49.8% as of Jun 30, 2024 &mdash; comprises total commercial loans (commercial and commercial real estate lending). The current rapidly changing macroeconomic backdrop may put some strain on commercial lending. Also, in case of any economic downturn, the asset quality of the credit category might deteriorate.
<h2>Parting Thoughts</h2>
U.S. Bancorp&#39;s inorganic expansion efforts, robust balance sheet and strong capital position are likely to bolster its financials. Also, the Fed&#39;s recent announcement of rate cuts starting this September will further support UBS&#39; growth trajectory. However, the rising expense base and lack of diversification in its loan portfolio remain significant concerns.
Thus, investors should not rush to buy this Zacks Rank #3 (Hold) stock. Rather, they can wait for a better entry point.
<h2>Stocks Worth Considering</h2>
Some better-ranked finance stocks are JPMorgan Chase &amp; Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) and State Street Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stt#NYSE">STT</a>).
JPMorgan&#39;s current-year earnings estimates have been revised marginally upward in the past 30 days. JPM currently carries a Zacks Rank #2 (Buy).
The consensus estimate for State Street Corporation&#39;s current-year earnings has also been revised marginally upward over the past 30 days. STT currently carries a Zacks Rank #2.
<a href="https://www.zacks.com/stock/news/2327277/u-s-bancorp-usb-rises-12-in-3-months-more-upside-left?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2327277">To read this article on Zacks.com click here.</a>

Federal Reserve

U.S. Bancorp Rises 12% in 3 Months: More Upside Left?

The much-awaited earnings report from artificial intelligence stalwart Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is around the corner and analysts expect <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40457660/top-analyst-says-nvidia-poised-for-strong-q2-results-theres-still-a-ton-of-spending">another quarter of robust performance from the company.</a> The earnings report of the Jensen Huang-led company is vital for the continuation of the market rally, according to market strategists.
The Street View: For the second quarter of fiscal 2025, analysts, on average, expect earnings of $0.64 per share and revenue of $28.68 billion, according to data available on Benzinga Pro data. This compares to the year-ago numbers of 25 cents (split-adjusted) in earnings and $13.51 billion in revenue.
It is widely expected that Nvidia shares, which are up over 160% year-to-date, could rally further if quarterly results beat the high bar and the management offers positive commentary regarding AI accelerators&#8217; production and ramp-up. 
The average analysts&#8217; one-year price target for Nvidia shares, based on data compiled by TipRanks, is $149.89, which points to roughly 16% upside from current levels. 
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best AI Stocks</a>
Biggest Beneficiaries: Nvidia is undoubtedly a retail favorite now but the bulk of the shares (66.75% of the outstanding shares) are held by institutions, and insiders account for 4.29%, according to the Yahoo Finance database. The top institutions holding a big chunk of shares are as follows:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Institutions/Insiders</td>
<td>No of Shares Held</td>
<td>% Of total Outstanding Shares</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>2.15M</td>
<td>8.72%</td>
</tr>
<tr>
<td>BlackRock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>)</td>
<td>1.84M</td>
<td>7.48%</td>
</tr>
<tr>
<td>Fidelity Investments</td>
<td>1.04M</td>
<td>4.24%</td>
</tr>
<tr>
<td>State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>)</td>
<td>0.982M</td>
<td>3.99%</td>
</tr>
<tr>
<td>Jensen Huang (CEO)</td>
<td>0.862M</td>
<td>3.50%</td>
</tr>
<tr>
<td>Geode Capital Management</td>
<td>0.535M</td>
<td>2.17%</td>
</tr>
<tr>
<td>Price T Rowe Associates</td>
<td>0.445M</td>
<td>1.81%</td>
</tr>
<tr>
<td>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)</td>
<td>0.391M</td>
<td>1.59%</td>
</tr>
<tr>
<td>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</td>
<td>0.337M</td>
<td>1.37%</td>
</tr>
<tr>
<td>Norges Bank Investment Management</td>
<td>0.292M</td>
<td>1.19%</td>
</tr>
</tbody>
</table>
</figure>
Huang is among the AI billionaires, whose wealth rose in geometric proportion amid the rising popularity and the large-scale adoption of the technology. Forbes estimates Huang&#8217;s wealth at $113 billion, and he is ranked 20 on the publication&#8217;s billionaires list.
Nvidia closed Friday&#8217;s session up 4.55% at $129.37 on Friday and the stock was up an incremental 0.83% in Monday&#8217;s premarket session, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40479226/nvidia-down-about-10-from-all-time-highs-prominent-trader-says-he-has-cashed-out-of">Nvidia Down About 10% From All-Time Highs: Prominent Trader Says He Has Cashed Out Of The Stock Barely A Week Ahead Of Earnings And Will &#8216;Decide On Re-entering&#8217; Later</a></li>
</ul>
Image Via Shutterstock

Tech

Media

NVDA

Nvidia Earnings Round The Corner: Top Investors In Jensen Huang's Company Set To Benefit If Q2 Appeases Street

The parties have entered into an equity investment agreement (the &quot;Initial Share Purchase&quot;) as part of a strategic relationship pursuant to which State Street Global Advisors will acquire approximately&nbsp;5 percent&nbsp;of Raiz&#39;s share capital through a placement.
In addition, the strategic relationship will see State Street Global Advisors&#39; trusted brand and deep knowledge of markets come together with Raiz&#39;s mobile-first platform, which helps Australian retail investors with micro-investments primarily in exchange-traded funds (ETF) and model portfolios. Leveraging State Street Global Advisors&#39; international library of resources, insights and trends, Raiz customers will have access to a broader array of financial literacy content and investment education tools.

Reported Sunday, State Street Global Advisors Acquires 5% Stake In Australian Fintech Platform Raiz

It is a good idea to add State Street (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stt#NYSE">STT</a>) stock to your portfolio now as it benefits from solid business servicing wins, strategic acquisitions, global reach and efforts to technologically upgrade operations. Its steady capital distribution activities are likely to continue enhancing shareholder value.
Analysts seem optimistic about the company&#39;s earnings growth prospects. Over the past 30 days, the Zacks Consensus Estimate for earnings has been revised marginally upward for 2024 and 2025. The stock currently carries a Zacks Rank #2 (Buy).
So far this year, shares of STT have rallied 3.8%, underperforming the industry&#39;s growth of 19.4%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3a/74856.jpg?v=829475817" />
Image Source: Zacks Investment Research
Here are a few factors that make State Street stock a solid investment option.
Revenue Strength: While the company&#39;s net interest revenues (NIR) declined over the past couple of years because of near-zero interest rates, the metric witnessed a three-year (ended 2023) CAGR of 7.8%. Though rising funding costs and shrinking non-interest-bearing deposit balance are expected to weigh on NIR, high interest rates for a longer period are likely to offer some support. We project NIR to be relatively stable in both 2024 and 2025. In 2026, the metric will grow 3.4% year over year.
Likewise, while the company&#39;s total fee revenues declined in 2022 and 2023, the same saw a four-year (2019-2023) CAGR of 1%. The company is well-positioned with respect to fundamental business activities, given its global exposure and a broad array of innovative products and services (including the launch of State Street Digital and State Street Alpha). These efforts, along with business servicing wins and an inorganic growth strategy, are expected to keep aiding fee income. We anticipate total fee revenues to grow 4.4% this year.
Our projections for total revenues suggest year-over-year growth of 5.6%, 1.8% and 3% for 2024, 2025 and 2026, respectively, and ensure the continuation of the upward trend.
Earnings Growth: State Street recorded earnings growth of 5% over the last three to five years. We project adjusted earnings to rise 4.6% this year. Further, in 2025 and 2026, the metric will grow at the rate of 8.3% and 15%, respectively.
Also, the company&#39;s long-term (three to five years) estimated EPS growth rate of 7.6% promises rewards for investors.
Business Restructuring Efforts: State Street has been expanding its scale inorganically and through business consolidation. In February, the company announced the completion of its acquisition of CF Global Trading, which will further expand outsourced trading capabilities. As part of the consolidation of its India-based operations, the company has assumed full ownership of its two joint ventures. These are part of the company&#39;s ongoing initiatives to optimize its global operations.
Impressive Capital Distributions: State Street&#39;s capital distribution plan is solid. Following the clearance of the 2024 stress test, State Street increased its quarterly dividend by 10% to 76 cents per share. This was the fourth consecutive annual hike in the dividend payout by 10%.
In January, the company authorized to repurchase shares worth up to $5 billion (with no expiration date), effective from the first quarter of 2024. As of Jun 30, 2024, almost $4.7 million worth of authorization remained available. Further, the company plans to return 80-90% of its earnings to shareholders this year. Driven by a strong capital position and earnings strength, STT is expected to sustain improved capital distributions in the future.
Strong Leverage: State Street&#39;s debt/equity ratio is 0.89 compared with the industry average of 1.09. This indicates that STT has a relatively lower debt burden compared with peers. Thus, the company will be more financially stable in adverse economic conditions.
Further, as of Dec 31, 2023, STT had a total debt worth $36 billion, while cash and dues from banks and interest-bearing deposits with banks were $102.8 billion. STT also maintains investment-grade ratings of A1/A/AA- on senior debt from Moody&#39;s Investors Service, Standard and Poor&#39;s and Fitch Ratings, respectively.
Stock Seems Undervalued: The State Street stock seems undervalued right now when compared with the broader industry. The company&#39;s price/book ratio of 1.09 is lower than the industry average of 1.26. Also, its price-earnings (P/E) (F1) ratio is 10.01, which is below the industry average of 12.05.
<h3>Other Stocks Worth a Look</h3>
A couple of other top-ranked major bank stocks are The Bank of New York Mellon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>) and JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>).
The Zacks Consensus Estimate for BK&#39;s current-year earnings has been revised almost 1% north over the past 30 days. The company&#39;s shares have rallied 25.6% so far this year. BK currently carries a Zacks Rank #2.
JPM also carries a Zacks Rank of 2 at present. Estimates for the company&#39;s 2024 earnings have been revised 1% upward over the past month. In the year-to-date period, JPMorgan&#39;s shares have rallied 26.2%.
<a href="https://www.zacks.com/stock/news/2324935/6-reasons-to-bet-on-state-street-stt-stock-right-away?cid=CS-BENZ-FT-analyst_blog|rank_focused-2324935">To read this article on Zacks.com click here.</a>

6 Reasons to Bet on State Street Stock Right Away

State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) shares are trading nearly flat today. Yesterday, the company disclosed a strategic partnership with Swiss cryptocurrency firm Taurus SA to enhance <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40458484/state-street-announces-agreement-with-taurus-to-deliver-full-service-digital-platform-for-institut" rel="noreferrer noopener">its digital asset capabilities</a>.
Taurus will offer State Street integrated custody, tokenization, and node-management solutions. The collaboration comes amid unprecedented institutional interest in digital assets.
This agreement will strengthen State Street&#8217;s Digital Asset Solutions, offering an integrated model to support the entire digital investment lifecycle for its clients.
State Street will utilize three of Taurus&#8217; products: Taurus-PROTECT, Taurus-CAPITAL (which streamlines the creation and management of tokenized assets), and Taurus-EXPLORER (which offers connectivity to multiple blockchain protocols).
Pending regulatory approvals, State Street will use Taurus&#8217; solutions to automate the issuance and servicing of digital assets, such as digital securities and fund management vehicles, adhering to institutional standards.
Donna Milrod, State Street&#8217;s chief product officer and head of Digital Asset Solutions, said, &#8220;The collaboration with Taurus underscores our ongoing commitment to further establishing ourselves as leaders in this growing asset class, and this important announcement only enhances our ambition to deliver to our clients an amazing digital asset experience.&#8221;
In a separate release, State Street announced the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40473830/state-street-announces-issuance-of-1-billion-of-senior-debt" rel="noreferrer noopener">issuance of $1 billion in senior debt</a>.
Last month, the company reported second-quarter fiscal 2024 revenues of $3.191 billion (up 2.6% Y/Y), beating the consensus of $3.146 billion. EPS of $2.15&nbsp;topped<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39795949/state-streets-financial-fortitude-q2-earnings-beat-with-soaring-management-fees-and-asset-growth" rel="noreferrer noopener"> the consensus estimate of $2.03</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39822280/state-street-is-riding-the-wave-of-favorable-market-conditions-analyst-says" rel="noreferrer noopener">State Street Is Riding The Wave Of Favorable Market Conditions, Analyst Says</a>
Price Action: STT shares are up 0.10% at $80.50 at the last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39822388/state-street-analysts-increase-their-forecasts-after-strong-earnings" target="_blank" rel="noreferrer noopener">State Street Analysts Increase Their Forecasts After Strong Earnings</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Contracts

What's Going On With State Street Stock Wednesday?

Offerings

State Street Reveals Issuance Of $1B In Aggregate Principal Amount Of Senior Debt

Deutsche Bank analyst Brian Bedell maintains State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) with a Hold and lowers the price target from $80 to $79.

Deutsche Bank Maintains Hold on State Street, Lowers Price Target to $79

Vanguard, BlackRock, And State Street Among Institutional Investors Making Significant Purchases In Trump Media & Technology Group Ahead Of Russell Index Inclusions; Vanguard Acquires 2.9M Shares, BlackRock Buys 2.2M Shares, And State Street Purchases 440K Shares; Other Investors Include Greenwich Wealth Management With 350K Shares And Hudson Bay Capital Adding 52K Shares

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Shares of companies within the broader financial sector are trading lower amid overall market weakness following weak US jobs data.

Citigroup analyst Keith Horowitz maintains State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) with a Neutral and raises the price target from $85 to $90.

Citigroup Maintains Neutral on State Street, Raises Price Target to $90

State Street: Strong Regulatory Capital And Positives Outweigh The Negatives (Rating Upgrade)

Federal Reserve said to face resistance from FDIC on reworked bank capital plan

State Street launches 14 corporate, municipal target maturity bond ETFs

In a report released on September 24, Gerard Cassidy from RBC Capital maintained a Hold rating on State Street (STT – Research Report), with a pric...

RBC Capital Sticks to Their Hold Rating for State Street (STT)

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Wells Fargo analyst Mike Mayo maintained a Buy rating on State Street (STT – Research Report) today and set a price target of $98.00. The company's...

State Street (STT) Receives a Buy from Wells Fargo

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State Street ( ($STT) ) just unveiled an update. State Street Corporation has announced that it will redeem all of its $1 billion senior notes with...

State Street to Redeem $1 Billion Senior Notes Early

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State Street

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