NYSE - Delayed Quote USD

State Street Corporation (STT)

74.29

-0.10

(-0.13%)

At close: April 24 at 4:00 PM EDT

73.61

-0.68

(-0.92%)

After hours: April 24 at 6:07 PM EDT

Deposits are banking industry's 'boogeyman': Money manager

Bank of America (BAC) and Morgan Stanley (MS) were the latest Big Bank stocks to report first-quarter earnings on Tuesday. Both topped earnings and revenue estimates, a trend consistent for major financial players who have reported earnings so far. Hennessy Funds Portfolio Manager David Ellison joins Market Domination to discuss the biggest boons and challenges for the banking sector. "I think the boogeyman or the real new issue is what's going to happen to the deposit side," Ellison explains. "Since the Silicon Valley-First Republic issues of a year or so ago, the deposit side has really been exposed as a risk factor for the industry that we've never had. So you see most of these large banks losing non-interest bearing deposits to the market..." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.

Yahoo Finance Video 8 days ago

BAC

PNC
+0.29%
JPM
State Street Corporation (NYSE:STT) Q1 2024 Earnings Call Transcript

State Street Corporation (NYSE:STT) Q1 2024 Earnings Call Transcript April 12, 2024 State Street Corporation beats earnings expectations. Reported EPS is $1.69, expectations were $1.5. STT isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning, and welcome to State […]

Insider Monkey 8 days ago

STT
-0.13%
State Street Stands by Contrarian Bet Fed Will Cut Rates in June

(Bloomberg) -- State Street Global Advisors is standing by a contrarian call for the Federal Reserve to cut interest rate as soon as June despite a string of hot economic data that has spurred most traders to push back bets to later in the year.Most Read from BloombergBeyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROIChina Tells Iran Cooperation Will Last After Attack on IsraelUS Two-Year Yield Eyes 5% Before Powell’s Remarks: Markets WrapIMF Steps Up Its Warning to

Bloomberg 8 days ago

STT
-0.13%
State Street Corporation (STT) Q1 2024 Earnings Call Transcript Highlights: Robust Revenue ...

Discover how State Street achieved significant AUC/A growth and record ETF AUM, while navigating challenges in securities finance and net interest income.

GuruFocus.com 11 days ago

STT
-0.13%
Q1 2024 State Street Corp Earnings Call

Q1 2024 State Street Corp Earnings Call

Thomson Reuters StreetEvents 12 days ago

STT
-0.13%
Deposits provide better-than-expected results at State Street

The giant custody bank convinced clients to park more money in accounts with the Boston-based company, prompting it to increase its full-year 2024 projections, Chief Financial Officer Eric Aboaf said.

American Banker 12 days ago

STT
-0.13%
State Street Corporation (STT) is a Top Dividend Stock Right Now: Should You Buy?

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does State Street Corporation (STT) have what it takes? Let's find out.

Zacks 12 days ago

STT
-0.13%
Compared to Estimates, State Street (STT) Q1 Earnings: A Look at Key Metrics

Although the revenue and EPS for State Street (STT) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Zacks 12 days ago

STT
-0.13%
State Street Corporation (STT) Q1 Earnings and Revenues Beat Estimates

State Street (STT) delivered earnings and revenue surprises of 14.19% and 2.54%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?

Zacks 12 days ago

STT
-0.13%
PNC
+0.29%
State Street posts record Q1 AUM, profit falls on higher expenses

State Street's assets under management for the first quarter rose by nearly 20% helping it post an increase in fee earned from managing clients, the company said on Friday, sending its shares up 4.2% in premarket trading. State Street services and manages investments for high-net-worth clients that include governments, institutions and investment companies. The bank had record $4.3 trillion in assets under management (AUM) at the end of the March quarter, up from $3.6 trillion last year.

Reuters 12 days ago

STT
-0.13%
State Street Hits Record Assets

Shares of State Street traded higher before the open after the financial services company reported higher revenue than Wall Street expected for the first quarter. On Friday, State Street reported revenue of $3.138 billion, up 1% from the same period a year earlier. The company reported net income of $463 million, down 16% due to higher expenses but more than double the $210 million of net income State Street reported for the fourth quarter of 2023.

Barrons.com 12 days ago

^GSPC

STT
-0.13%
State Street Beats Revenue Estimate

State Street reported earnings per share of $1.37 and revenue of $3.138 billion for the first quarter. Analysts surveyed by FactSet anticipated earnings per share of $1.49 and revenue of $3.06 billion.

Barrons.com 12 days ago

STT
-0.13%
State Street Corporation (NYSE: STT) Reports First-Quarter 2024 Financial Results

BOSTON, April 12, 2024--State Street Corporation (NYSE: STT) reported its first-quarter 2024 financial results today. The news release, presentation, and additional financial information can be accessed on State Street’s Investor Relations website, http://investors.statestreet.com. A conference call to discuss the firm’s financial results, outlook and related matters will be held at 10:00 a.m. ET today, Friday, April 12, 2024. The call will be open to the public.

Business Wire 12 days ago

STT
-0.13%
STT-PG
High interest rates are getting more challenging for even the biggest banks

The results from JPMorgan, Wells Fargo, and Citigroup mark the start of earnings season for America's banks as investors watch for signs of how high interest rates are affecting lenders.

Yahoo Finance 12 days ago

MS

BAC

KRE
Fed seems 'anxious' to begin rate cuts: Fmr. Richmond Fed Pres.

Consumers, investors, and the market itself are all tuned into inflation's increasingly apparent presence in 2024, drawing even more attention on when the Federal Reserve will finally pivot and start cutting interest rates. Former Federal Reserve Bank of Richmond President Jeffrey Lacker sits down with Yahoo Finance to talk about why he thinks the Fed is "a bit over their skis" and if inflation persists, it's possible that officials may not issue "any rate cuts in this year at all." "Policy needs to be restrictive enough. The key with monetary policy is always in a situation like this, is encouraging people to delay spending because it's the excess of spending over the economy's capacity that drives inflation," Lacker, currently the Senior Affiliated Scholar at the Mercatus Center, says. "You don't need to reduce spending so much as to cause a recession, but you do need to restrain it enough. The signs are there's a good chance that Fed policy isn't terribly restrictive right now, and isn't going to do the trick in getting inflation down." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan.

Yahoo Finance Video 13 days ago

^DJI

JPM

^FVX
State Street Earnings: Focus on Fee Pressures

When State Street reports first-quarter earnings Friday morning, investors will look for signs of how competitive fee pressures are affecting the company, which provides a range of financial services to institutional investors. Shares of State Street have struggled and are down 5% so far this year, compared with a 9.7% gain for the S&P 500. The Boston-based company generates about three-quarters of its revenue from fees and the rest from net interest income.

Barrons.com 13 days ago

STT
-0.13%
T. Rowe Price Expands Use of Cloud-Based Charles River® IMS

BOSTON, April 11, 2024--T. Rowe Price will utilize Charles River for portfolio management, trading, and compliance, and data management.

Business Wire 13 days ago

STT
-0.13%
STT-PG
Why State Street Corporation (STT) is a Top Value Stock for the Long-Term

The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.

Zacks 14 days ago

STT
-0.13%
State Street Earns MLT’s Hispanic Equity at Work Bronze Certification and Black Equity at Work Bronze Recertification

BOSTON, April 10, 2024--State Street Corporation (NYSE: STT) today announced that it has earned both the Hispanic Equity at Work Bronze Certification and the renewal of its Black Equity at Work Bronze Certification, two recognitions issued by Management Leadership of Tomorrow (MLT).

Business Wire 14 days ago

STT
-0.13%
STT-PG
Fee Income to Aid State Street (STT) Q1 Earnings, NIR to Hurt

Driven by improvement in the operating backdrop, State Street (STT) is expected to have recorded a rise in fee income, which will support its Q1 earnings amid weak weakness in NIR due to higher funding costs.

Zacks 14 days ago

STT
-0.13%
PNC
+0.29%

Performance Overview

Return	STT	S&P 500
YTD	-3.22%	+6.33%
1-Year	+4.68%	+22.70%
3-Year	+1.00%	+21.33%

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State Street Corporation (STT)

Deposits are banking industry's 'boogeyman': Money manager

State Street Corporation (NYSE:STT) Q1 2024 Earnings Call Transcript

State Street Stands by Contrarian Bet Fed Will Cut Rates in June

State Street Corporation (STT) Q1 2024 Earnings Call Transcript Highlights: Robust Revenue ...

Q1 2024 State Street Corp Earnings Call

Deposits provide better-than-expected results at State Street

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

Compared to Estimates, State Street (STT) Q1 Earnings: A Look at Key Metrics

State Street Corporation (STT) Q1 Earnings and Revenues Beat Estimates

State Street posts record Q1 AUM, profit falls on higher expenses

State Street Hits Record Assets

State Street Beats Revenue Estimate

State Street Corporation (NYSE: STT) Reports First-Quarter 2024 Financial Results

High interest rates are getting more challenging for even the biggest banks

Fed seems 'anxious' to begin rate cuts: Fmr. Richmond Fed Pres.

State Street Earnings: Focus on Fee Pressures

T. Rowe Price Expands Use of Cloud-Based Charles River® IMS

Why State Street Corporation (STT) is a Top Value Stock for the Long-Term

State Street Earns MLT’s Hispanic Equity at Work Bronze Certification and Black Equity at Work Bronze Recertification

Fee Income to Aid State Street (STT) Q1 Earnings, NIR to Hurt

Performance Overview