Basswood Capital Management L.L.C. Makes New $11.09 Million Investment in State Street Corporation $STT

Posted by Stanley Muller on Aug 27th, 2026

Basswood Capital Management L.L.C. purchased a new position in shares of State Street Corporation (NYSE:STT – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 65,396 shares of the asset manager’s stock, valued at approximately $11,091,000.

Several other large investors also recently made changes to their positions in STT. Bell Investment Advisors Inc bought a new position in shares of State Street in the 2nd quarter valued at approximately $28,000. Elevation Wealth Partners LLC boosted its position in State Street by 153.6% during the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock worth $30,000 after purchasing an additional 106 shares during the period. Keating Financial Advisory Services Inc. bought a new stake in State Street during the second quarter worth approximately $33,000. Kelleher Financial Advisors acquired a new position in State Street during the second quarter valued at approximately $33,000. Finally, Wilkerson Advisory Group LLC acquired a new position in State Street during the fourth quarter valued at approximately $29,000. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on STT. Weiss Ratings upgraded shares of State Street from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. upped their price target on shares of State Street from $176.50 to $187.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. The Goldman Sachs Group raised their price target on State Street from $168.00 to $194.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Zacks Research upgraded State Street from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Citigroup boosted their price objective on State Street from $193.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, State Street currently has an average rating of “Moderate Buy” and an average target price of $185.38.

Check Out Our Latest Report on State Street

State Street Trading Up 0.3%

Shares of STT stock opened at $193.61 on Thursday. The firm has a market capitalization of $53.18 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 0.79 and a beta of 1.41. State Street Corporation has a 1 year low of $104.64 and a 1 year high of $195.18. The firm’s fifty day simple moving average is $181.47 and its 200 day simple moving average is $155.25. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT – Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, beating analysts’ consensus estimates of $3.34 by $0.31. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.88 billion. State Street had a net margin of 15.02% and a return on equity of 15.26%. The business’s revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 EPS. As a group, sell-side analysts predict that State Street Corporation will post 13.75 EPS for the current year.

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.92 per share. This is an increase from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, October 1st. State Street’s dividend payout ratio (DPR) is currently 29.63%.

Insider Activity

In related news, EVP W. Bradford Hu sold 9,758 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the transaction, the executive vice president directly owned 49,794 shares in the company, valued at $9,187,988.88. The trade was a 16.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $162.14, for a total value of $243,210.00. Following the transaction, the executive vice president owned 41,827 shares in the company, valued at $6,781,829.78. This represents a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 25,811 shares of company stock valued at $4,723,982. Insiders own 0.27% of the company’s stock.

About State Street

(Free Report)

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.