|Bid||0.00 x 900|
|Ask||67.29 x 1000|
|Day's Range||64.66 - 68.30|
|52 Week Range||57.87 - 103.24|
|Beta (3Y Monthly)||1.64|
|PE Ratio (TTM)||10.45|
|Earnings Date||Apr 18, 2019 - Apr 22, 2019|
|Forward Dividend & Yield||1.88 (2.86%)|
|1y Target Est||79.74|
“Our performance this quarter reflects the continued challenging conditions in the industry as well as lower client activity,” Chief Executive Officer Ronald O’Hanley said in the statement. The bank expects fee revenue to be flat to up 1 percent in the second quarter, compared with the first three months of 2019, Chief Financial Officer Eric Aboaf said on a call with analysts. State Street is responding to the pressure by focusing on cost cuts.
Wells Fargo's Mike Mayo says shareholders need to hold State Street's top executives accountable for weak results
The company reported adjusted earnings of $1.24 a share, 5 cents ahead of Wall Street estimates, but down about 27.2% from profit in the same period in 2018. Revenue for the period fell 4.1% to $2.93 billion, which also was ahead of Wall Street's expectation of $2.91 billion. "Our performance this quarter reflects the continued challenging conditions in the industry as well as lower client activity.
The Boston-based company has been hurt by a drop in client activity and weaker equity markets compared to early 2018.
San Mateo, California-based Franklin started with voluntary buyout offers for eligible U.S. employees age 50 or older who have at least 10 years of experience, the firm said in a Jan. 29 staff memo. “Our industry remains in the midst of rapid change, which has put pressure on our business in recent years,” Chief Executive Officer Greg Johnson and President Jenny Johnson said in the memo. Asset managers including BlackRock Inc. and State Street Corp. have unveiled plans for job reductions this year as cost-cutting is being driven by the 2018 market decline as well as industry automation and growing pressure to lower fees.
The financial industry has engaged in significant lobbying on legislation that would revamp the U.S. retirement system, and it’s now sounding delighted about the bills that are making their way through Congress.
Rise in net interest income, improvement in assets under management and higher rates aid State Street's (STT) Q1 earnings while decline in fee income hurts.
Berkshire Hathaway (BRK.A, BRK.B) is a multibillion-dollar holding company led by Warren Buffett. Bolstered by its insurance businesses, including GEICO, the company has created room to invest in other industries such as railroads, clothing, and jewelry. Berkshire Hathaway shareholders have been rewarded heavily throughout the company's history, with shares consistently trading at over $300,000. In July 2018, Berkshire Hathaway reported it granted top employees more flexibility to spend cash by repurchasing shares.
NET INTEREST INCOME OF $673 MILLION UP 5% COMPARED TO 1Q18
While higher rates and loan growth are likely to aid State Street's (STT) NII in the first quarter, an expected fall in fee income might hurt top-line growth.
FTSE Russell sparked the latest -- and perhaps biggest -- worry when it said last week it may remove Malaysia from its world bond index on concern about market liquidity, triggering fears of a capital flight. The move couldn’t come at a worse time: the currency is lagging, global funds continue to sell Malaysian stocks and palm oil exports are under threat from European Union restrictions. While weak inflation data Wednesday could support the case for a rate cut, there are concerns consumer prices could rebound in the second half.
State Street Corporation (NYSE:STT) saw significant share price movement during recent months on the NYSE, rising to highs of $72.8 and falling to the lows of $64.88. Some share p...
Warren Buffett's $82.5 billion estimated net worth makes him the world's third-wealthiest man, behind Microsoft's Bill Gates and Amazon's Jeff Bezos. Unlike Gates and Bezos, however, Buffett's fortune came from investing in other companies. Since Buffett took control of Berkshire Hathaway in 1964, the price of Berkshire's A shares has increased at an annualized rate of 20.5%, compared with 9.7% for Standard & Poor's 500-stock index. Like most wildly successful investors, Buffett makes it sound easy: Buy quality companies with great businesses, and try to buy low when the opportunity arises. Invest for the long term. Those rules--and a canny eye for opportunity--have led Berkshire to stocks as diverse as Apple, Coca-Cola, Costco and Visa. Most stocks, even the ones Buffett loves, aren't cheap. "Prices are sky-high for businesses possessing decent long-term prospects," Buffett said in his 2018 shareholder letter. The eight stocks here embody virtues that Buffett loves. Not all are bargains, but all are high-quality stocks with rock-solid balance sheets, strong competitive advantages, prodigious cash generation or the power to raise prices, even in tough times. SEE ALSO: How Well Do You Really Know Warren Buffett?
The SPDR® Exchange Traded Fund listed in the table below, announced today that the Fund received a payment as an authorized claimant from a class action settlement related to Akorn, Inc securities litigation.
State Street (STT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
BlackRock Inc.’s iShares, Vanguard Group, and State Street Global Advisors control a whopping 80% of the market with 600 products.
Custodian bank State Street Corp on Monday named former Citigroup Inc Asia head Francisco Aristeguieta as chief executive officer for its international business. Aristeguieta, who joins the company in ...
State Street Corporation, (State Street), NYSE:STT today announced that it has appointed Francisco Aristeguieta to chief executive officer for its international business. Aristeguieta, who joins the company in July, will report to State Street president and CEO, Ron O’Hanley and become a member of the Company’s Management Committee, its senior-most strategy and policy making group.
As CEOs from seven giant U.S. banks testified Wednesday before a House committee, one committee member basically asked the bigwigs what keeps them up at night.
While gurus hold positions in these companies, the share price and returns continue to fall. The company, which produces crude oil and natural gas, has a $75.32 billion market cap. The share price of $66 is 17.06% below its 52-week high and 17.27% above its 52-week low.
Following a question from Democratic Rep. Al Green, the CEOs from seven giant U.S. banks — all white men — told a House committee on Wednesday that it’s likely their successors also will be white guys.