Guggenheim Downgrades State Street to "Neutral" on a Valuation Call (STT)

Guggenheim Downgrades State Street to “Neutral” on a Valuation Call (STT)

RSS

Guggenheim Partners on Tuesday downgraded financial services company, State Street Corporation (STT).

The firm lowered their rating for STT from a “Buy” to “Neutral,” and gave the stock a $63 price target. This price target suggests a 10% increase from the stock’s current price of $56.28.

Analysts have downgraded the company based on a valuation call, since the stock has seen a 32% gain since mid-October.

State Street shares were up 32 cents, or 0.59% during Tuesday morning trading. The stock has increased 32% in the past year.

The Bottom Line
Shares of STT currently offer a 1.71% dividend yield, based on Tuesday morning’s price of $56.12 and the company’s annualized dividend payout of 96 cents per share.

State Street Corporation(STT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today