Market Update: State Street Corporation (NYSE:STT) – State Street Corporation Declares Quarterly Dividend on its Non-Cumulative Perpetual Preferred Stock Series “C”, Series “D”, Series “E”, and Series “G”

[Business Wire] – State Street Corporation today announced a quarterly cash dividend on each of the below outstanding series of non-cumulative perpetual preferred stock: Read more on this. State Street Corporation (STT) , valued at $24.48B, started the session at $61.75. Shares have traded today between $61.00 and $62.32 per share with the price of the stock fluctuating between $50.73 to $81.26 over the last 52 weeks. STT shares are currently priced at 12.61x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.33x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.36 per share annually in dividends, yielding 2.26%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $0.90 per share, which would be $0.27 worse than the year-ago quarter and a $0.13 sequential decrease. The full-year EPS estimate is $4.75 which would be a $0.14 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.56 Billion. If realized, that would be a 4.48% decrease over the year-ago quarter. In terms of ratings, Keefe Bruyette downgraded STT from Mkt Perform to Underperform (Mar 28, 2016). Previously, JP Morgan upgraded STT from Underweight to Neutral. With the above information in mind, readers should note that the average price target is $63.06, which is 2.12% above where the stock opened this morning. See more in (NYSE:STT) Similar Articles: Company Update: State Street Corporation (NYSE:STT) – GE and State Street Corporation Announce Agreement for State Street to Acquire GE Asset Management for up to $485 Million Company Update (NYSE:STT): State Street Corporation Declares Quarterly Dividend on its Non-Cumulative Perpetual Preferred Stock Series “C”, Series “D”, Series “E”, and Series “F” Company Update: State Street Corporation (NYSE:STT) – State Street’s GX Private Equity Index Shows Fund Distributions Continue to Outpace Capital Drawdowns, Driving the Quarterly Return to 4.2% in the Second Quarter of 2015