State Street Corporation (STT, Financial) announced its first-quarter financial results, reporting a revenue of $3.28 billion, slightly below the market consensus of $3.32 billion. Despite missing revenue expectations, the company highlighted significant growth across various segments and maintained strong financial performance.
In addition to its revenue figures, State Street reported assets under management (AUM) at $4.67 trillion for the quarter. The company also maintained a Common Equity Tier 1 (CET1) capital ratio of 11%, indicating a robust capital position.
State Street's chairman and CEO emphasized the company's success in achieving positive fee and total operating leverage, driven by broad-based year-over-year fee revenue growth and continued expense management. The company also noted an expansion in pre-tax margins and a commitment to returning capital to shareholders, reflecting a solid start to the fiscal year.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 13 analysts, the average target price for State Street Corp (STT, Financial) is $105.38 with a high estimate of $127.00 and a low estimate of $78.00. The average target implies an upside of 32.34% from the current price of $79.63. More detailed estimate data can be found on the State Street Corp (STT) Forecast page.
Based on the consensus recommendation from 17 brokerage firms, State Street Corp's (STT, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for State Street Corp (STT, Financial) in one year is $98.03, suggesting a upside of 23.11% from the current price of $79.63. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the State Street Corp (STT) Summary page.
