Bank of America Securities upgrades State Street (STT) to a Hold
State Street received a Hold rating and price target from Bank of America Securities analyst Ebrahim Poonawala today.
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According to TipRanks, Poonawala is a 5-star analyst with an average return of 14.2% and a 67.70% success rate. Poonawala covers the Financial sector, focusing on stocks such as US Bancorp, Citigroup, and JPMorgan Chase.
In addition to Bank of America Securities, State Street also received a Hold from Barclays’s Jason Goldberg in a report issued on April 1. However, on the same day, TipRanks – Google reiterated a Buy 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. Last 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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