What’s Ahead for State Street Corp After Today’s Bearish Options Activity?

 What's Ahead for State Street Corp After Today's Bearish Options Activity?

In today’s session State Street Corp (STT) recorded an unusually high (440) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious STT decrease. With 440 contracts traded and 2064 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: STT161118P00072500 closed last at: $2.73 or 5.8% up. About 1.01M shares traded hands. State Street Corp (NYSE:STT) has risen 25.42% since March 8, 2016 and is uptrending. It has outperformed by 16.10% the S&P500.

Analysts await State Street Corp (NYSE:STT) to report earnings on October, 28. They expect $1.23 earnings per share, up 6.03% or $0.07 from last year’s $1.16 per share. STT’s profit will be $476.88 million for 14.32 P/E if the $1.23 EPS becomes a reality. After $1.46 actual earnings per share reported by State Street Corp for the previous quarter, Wall Street now forecasts -15.75% negative EPS growth.

State Street Corp (NYSE:STT) Ratings Coverage

Out of 10 analysts covering State Street Corporation (NYSE:STT), 3 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 30% are positive. $88 is the highest target while $52 is the lowest. The $74 average target is 5.05% above today’s ($70.44) stock price. State Street Corporation has been the topic of 31 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock of State Street Corp (NYSE:STT) earned “Hold” rating by Standpoint Research on Sunday, August 9. The firm earned “Overweight” rating on Friday, October 9 by Barclays Capital. Jefferies maintained State Street Corp (NYSE:STT) on Monday, October 10 with “Buy” rating. Deutsche Bank maintained it with “Hold” rating and $56 target price in Thursday, February 25 report. The stock of State Street Corp (NYSE:STT) has “Neutral” rating given on Thursday, January 7 by JP Morgan. The firm has “Overweight” rating by Barclays Capital given on Wednesday, January 13. The firm earned “Buy” rating on Monday, October 26 by Argus Research. The rating was downgraded by Wood on Monday, March 28 to “Underperform”. The stock of State Street Corp (NYSE:STT) earned “Buy” rating by Argus Research on Thursday, January 28. The firm has “Hold” rating given on Thursday, March 17 by Deutsche Bank.

According to Zacks Investment Research, “State Street Corporation is the world’s leading specialist in providing sophisticated global investors with investment servicing, investment management, investment research and trading services. Customers include mutual funds and other collective investment funds, corporate and public pension funds, corporations, unions and not-for-profit organizations in and outside of the United States.”

Insitutional Activity: The institutional sentiment increased to 0.92 in Q2 2016. Its up 0.18, from 0.74 in 2016Q1. The ratio improved, as 39 funds sold all State Street Corp shares owned while 250 reduced positions. 71 funds bought stakes while 194 increased positions. They now own 328.46 million shares or 1.10% less from 332.10 million shares in 2016Q1.
The New York-based Ingalls & Snyder Lc has invested 0.01% in State Street Corp (NYSE:STT). Qs Invsts Ltd Liability Co holds 0% or 9,508 shares in its portfolio. Moreover, Mai Capital Management has 0.1% invested in State Street Corp (NYSE:STT) for 23,650 shares. Roberts Glore Il holds 0.8% or 19,642 shares in its portfolio. Cna Fincl Corporation last reported 0.3% of its portfolio in the stock. Moreover, Twin Tree Mgmt Ltd Partnership has 0.07% invested in State Street Corp (NYSE:STT) for 86,304 shares. Peoples Fin Ser holds 0.1% or 2,968 shares in its portfolio. Ridgeworth Cap Mngmt Ltd Llc accumulated 0% or 101 shares. Bancorp Of The West has invested 0.05% of its portfolio in State Street Corp (NYSE:STT). Prudential last reported 0.08% of its portfolio in the stock. Van Eck Associates, a New York-based fund reported 291,549 shares. Mizuho Asset Mngmt Coltd holds 0.05% or 5,388 shares in its portfolio. Richard C Young Com owns 156,189 shares or 1.87% of their US portfolio. Arizona State Retirement owns 97,074 shares or 0.07% of their US portfolio. Millennium Lc has 0.12% invested in the company for 959,530 shares.

Insider Transactions: Since July 1, 2016, the stock had 0 buys, and 7 selling transactions for $7.02 million net activity. Keenan Karen C had sold 1,000 shares worth $57,510 on Wednesday, July 20. Another trade for 45,000 shares valued at $2.42 million was made by CARP JEFFREY N on Friday, July 1. Newth Sean P had sold 54 shares worth $3,707 on Monday, August 15.

State Street Corporation, the parent company, is a financial holding company. The company has a market cap of $27.31 billion. The parent firm provides financial and managerial support to its legal and operating subsidiaries. It has a 14.41 P/E ratio. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.

STT Company Profile

State Street Corporation, incorporated on October 16, 1969, the parent company, is a financial holding company. The parent firm provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world. The Company’s clients include mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers. The Firm has approximately two lines of businesses: Investment Servicing and Investment Management.

More important recent State Street Corp (NYSE:STT) news were published by: Reuters.com which released: “BRIEF-State Street Corp submits plan to the Federal Reserve” on October 04, 2016, also Businesswire.com published article titled: “State Street Corporation Submits Supplementary Resolution Plan to the Federal …”, Wsj.com published: “State Street Snags Citizens Financial CFO” on September 28, 2016. More interesting news about State Street Corp (NYSE:STT) was released by: Forbes.com and their article: “Ex-Dividend Reminder: CubeSmart, WP Carey and State Street” with publication date: September 27, 2016.

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