State Street

State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The firm operates through following business lines: Investment Servicing and Investment Management. The Investment Servicing business offers custody, product and participant-level accounting, daily pricing and administration, master trust and master custody, record-keeping, cash management, foreign exchange, brokerage and other trading services, securities finance, deposit and short-term investment facilities, loans and lease financing, investment manager and alternative investment manager operations outsourcing, and performance, risk and compliance analytics. The Investment Management business provides services through State Street Global Advisors, which provides a broad array of investment management, investment research and investment advisory services to corporations, public funds and other sophisticated investors. It offers strategies for managing financial assets, including passive and active, such as enhanced indexing, using quantitative and fundamental methods for both the U.S. and global equities and fixed-income securities. The company was founded in 1792 and is headquartered in Boston, MA.

Earnings data Q1 2021

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State Street exceeds Q4 expectations, eyes growth amidst challenges

State Street's Q4 2022 performance showcased resilience in a tough economic environment, with a focus on cost management and capital strength. The company is optimistic about growth opportunities in 2023, despite facing challenges in asset servicing and interest income forecasting.

State Street Q1 2023 Earnings: Resilient Performance Amid Market Challenges

State Street navigated market volatility in Q1, maintaining financial strength and returning capital to shareholders. Challenges include managing expenses, revenue impact from customer behavior, and provisioning sensitivity. Opportunities lie in revenue growth from acquisitions, new business installations, and optimizing RWA dynamics.

State Street reports solid Q2 performance amidst NII challenges

State Street delivered strong financial results in Q2 2023, with growth in key metrics and a focus on capital management and productivity enhancements.
Challenges lie ahead in NII, expense control, and potential regulatory impacts, but the company is proactively addressing these issues.
Opportunities exist in asset growth, deposit management, and client relationships, positioning State Street for continued success in the financial services industry.

State Street reports robust Q3 earnings, eyes private market growth

State Street's Q3 performance showcased strong financial results, emphasizing growth in AUC/A and successful asset servicing wins. The company's focus on cost management, revenue growth, and strategic initiatives positions it well for positive fee operating leverage in 2024. Challenges include managing expenses amid inflationary pressures and navigating evolving market dynamics.

State Street reports robust 2023 performance amidst NII challenges

State Street's strong financial performance, strategic initiatives, and shareholder value focus position the company for continued growth and resilience in 2024.
While facing challenges such as potential NII declines and regulatory uncertainties, State Street can leverage opportunities in digital assets, private markets, and client base expansion for future success.
By navigating challenges effectively, capitalizing on growth opportunities, and maintaining financial strength, State Street aims to drive positive performance and value creation for shareholders in the year ahead.

State Street (STT) reports strong Q1 performance and growth opportunities

State Street's Q1 2024 performance showcased robust financial results, record AUC/A, and strategic priorities for growth and efficiency.
While challenges like NII decline and expense management persist, opportunities in productivity enhancement and private markets growth are promising.
Investors can look forward to capital returns and ongoing technology investments driving operational improvements at State Street.
Overall, State Street's focus on financial strength, operational efficiency, and strategic growth initiatives positions it well for the future.

State Street reports strong Q2 earnings, eyes growth opportunities

State Street's Q2 2024 earnings call highlighted robust financial performance, strategic wins in asset services, and a focus on client engagement and operational efficiency.
The company's emphasis on sustained momentum, organic growth, and shareholder value enhancement underscored its commitment to driving long-term success and delivering value to stakeholders.
While facing potential challenges from market dynamics and regulatory changes, State Street remains well-positioned to leverage opportunities for growth, innovation, and market expansion in the financial services sector.

State Street reports record Q3 earnings and strategic growth outlook

State Street's Q3 2024 earnings call highlighted strong financial performance, operational efficiency, and strategic growth initiatives. The company achieved record EPS, strong ROE, and revenue growth, supported by the success of its State Street Alpha platform and Global Advisors.
While facing challenges such as CFO transition and market dynamics, State Street remains well-positioned to capitalize on opportunities for expansion, innovation, and sustainable growth. The company's focus on shareholder value, client trust, and market recognition underpins its competitive strength and resilience.
With an improved outlook, State Street is poised to navigate challenges, leverage opportunities, and drive long-term value creation for stakeholders. By prioritizing innovation, client-centric solutions, and financial stewardship, State Street aims to sustain its growth trajectory and competitive edge in the financial services industry.

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State Street Corp. engages in the provision of financial services to institutional investors. It operates through the Commercial and Financial Loans, and Commercial Real Estate Loans segments. The company was founded in 1792 and is headquartered in Boston, MA.

To strengthen its global presence, State Street (STT) announces assuming full ownership of its joint venture with the Atos Group in India.

State Street (STT) to Take Full Ownership of India Venture

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BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) announced today that as part of its ongoing transformation and productivity initiatives, it is streamlining its operating model in India and intends to assume full ownership of the company's joint venture with the Atos Group (originally established with Syntel, Inc.). This consolidation, which is expected to be complete by the fourth quarter 2023, will continue the transformation of State Street's global operations. State Street also.

State Street Consolidates Operating Model in India

BOSTON--(BUSINESS WIRE)--State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced total expense ratio (“TER”) reductions on 10 funds in its low-cost SPDR Portfolio ETF suite. These reductions make the funds the lowest or among the lowest-cost ETF offerings in their respective peer groups.1 Effective August 1 2023, the total expense ratios of the following funds were lowered as follows: Ticker Name Previous TER (bps)* New TER (bps) SPLG.

State Street Global Advisors Enhances its SPDR® Portfolio ETF™ Suite

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Higher rates, inorganic growth strategy and global reach are likely to keep supporting State Street (STT). However, rising expenses and substantial exposure to fee income are major near-term woes.

State Street (STT) Rides on Expansion Efforts Amid Expense Woes

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced that it has been appointed by abrdn to service its first actively managed exchange traded fund (ETF) in Europe. State Street will provide abrdn, a leading European asset manager with £500bn1 in assets under management and administration (AUMA), with custody, fund accounting, order-taking, transfer agency services and ETF servicing. State Street has been working closely with abrdn to support the firm's expansion into t.

State Street to Service abrdn's First Actively Managed ETF In Europe

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Higher interest rates boosted big banks' net interest income in the second quarter, which is the profit banks earn from charging higher interest rates to borrowers than they pay out to depositors and account holders.

Term of the Week: Net Interest Income

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced a quarterly cash dividend of $0.69 per share of common stock, payable on October 12, 2023 to common shareholders of record at the close of business on October 2, 2023. The dividend represents a 10% per share increase from the second quarter 2023 dividend of $0.63 per share. About State Street Corporation State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional.

State Street Corporation Declares Third-Quarter Dividend on its Common Stock, a 10% per Share Increase Over Prior Quarter

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) today announced a cash dividend on each of the below outstanding series of non-cumulative perpetual preferred stock: Series D (represented by depositary shares, each representing a 1/4000th interest in a share of Series D preferred stock). The cash dividend is in the amount of $1,475.00 per share of Series D preferred stock (resulting in a distribution of approximately $0.3687 per depositary share) and is payable on September 15, 2023.

State Street Corporation Declares Dividends on Its Non-Cumulative Perpetual Preferred Stock Series “D”, “F” and “G”

Analysts at UBS have downgraded their rating on State Street Corporation (NYSE:STT) from ‘Buy' to ‘Neutral' following the bank's 2Q earnings report as it once again faces pricing pressure. The analysts also lowered their 12-month price target on the stock from $90 to $72 based on a roughly nine times multiple of their 2024 earnings per share estimate.

State Street downgraded on pricing pressure déjà vu

State Street Corp. STT, -12.08% stock was down 2% in premarket trade on Monday as KBW downgraded the trust bank to market perform from outperform and cut its price target to $73 a share from $84 a share. KBW analyst Michael Brown said the bank lowered its outlook for net interest income to fall by 12% to 18% during in the third quarter and another 2% to 6% in the fourth quarter.

State Street stock dips as KBW downgrades financial firm to market perform on rockier outlook

Investors weren't pleased with the bank's latest quarterly earnings report. This is despite the fact that it beat the average analyst's bottom-line estimate.

Why State Street Stock Plummeted Today

State Street Corp. STT, -12.04% is down 11.2% to $68.80 with less than a half hour of trading left on Friday. If the stock closes at that level, it will be the lowest close since May 31, 2023, when it closed at $68.02, according to Dow Jones Market Data.

State Street stock down 11% in largest single-day drop in more than three years

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State Street Corporation (NYSE:STT ) Q2 2023 Earnings Conference Call July 14, 2023 10:00 AM ET Company Participants Ilene Fiszel Bieler - Global Head of Investor Relations Ronald P. O'Hanley - Chairman and Chief Executive Officer Eric Aboaf - Vice Chairman and Chief Financial Officer Conference Call Participants Brennan Hawken - UBS Alexander Blostein - Goldman Sachs Rob Wildhack - Autonomous Research Glenn Schorr - Evercore Sharon Leung - Wolfe Research Brian Bedell - Deutsche Bank Operator Good morning and welcome to State Street Corporation Second Quarter 2023 Earnings Conference Call and Webcast.

State Street Corporation (STT) Q2 2023 Earnings Call Transcript

State Street (STT) records a rise in revenues in the second quarter of 2023.

State Street (STT) Stock Declines Despite Q2 Earnings Beat

State Street Corporation (NYSE:STT)delivered 2Q earnings that came in ahead of estimates, but its stock was punished on Friday as fickle traders digested its results. The US financial institution posted 2Q earnings of $2.17 a share, beating estimates of around $2.08, but topline revenue missed the mark at $3.11 billion.

State Street beats earnings estimates but faces sell-off as revenue falls short

The headline numbers for State Street Corporation (STT) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

State Street Corporation (STT) Reports Q2 Earnings: What Key Metrics Have to Say

State Street Corporation (STT) came out with quarterly earnings of $2.17 per share, beating the Zacks Consensus Estimate of $2.08 per share. This compares to earnings of $1.94 per share a year ago.

State Street Corporation (STT) Q2 Earnings Beat Estimates

State Street Corp. STT, -4.52% stock was down by 4.5% after it reported a better-than-expected second-quarter profit but fell short of its revenue and net interest income marks. State Street said its earnings for the three months ended June 30 rose 2% to $763 million, or $2.17 a share, from $747 million, or $1.91 a share, in the year-ago period.

State Street stock drops after net interest income and revenue fall short

State Street Corp on Friday beat profit estimates for the second quarter as the bank's interest income benefited from the U.S. Federal Reserve's policy tightening and assets under management rose amid a recovery in the equity markets.

State Street beats profit estimates as interest income rises

State Street Corporation (NYSE: STT) reported its second-quarter 2023 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.

State Street Reports Second-Quarter 2023 Financial Results

We expect State Street to edge past the consensus estimates.

What To Expect From State Street Stock In Q2?

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News for State Street Stock (STT)