Wells Fargo Sticks to Its Buy Rating for State Street (STT)
Wells Fargo analyst Mike Mayo maintained a Buy rating on State Street today and set a price target of $143.00.
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Mayo covers the Financial sector, focusing on stocks such as JPMorgan Chase, Bank of New York Mellon, and Citigroup. According to TipRanks, Mayo has an average return of 15.6% and a 68.63% success rate on recommended stocks.
In addition to Wells Fargo, State Street also received a Buy from TipRanks – PerPlexity’s PerPlexity Asset Management in a report issued on March 24. However, on March 26, RBC Capital maintained a Hold rating on State Street (NYSE: STT).
Based on State Street’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.59 billion and a net profit of $747 million. In comparison, last year the company earned a revenue of $5.67 billion and had a net profit of $783 million
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STT in relation to earlier this year. Earlier this month, JOHN PLANSKY, the EVP of STT sold 16,100.00 shares for a total of $2,001,552.00.
Read More on STT:
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