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State Street Corporation STT

Rating as of

Morningstar’s Analysis

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Capital Allocation


Decent Quarter for State Street, Net Interest Income Expected to Rebound in 2022

Rajiv Bhatia, CFA Equity Analyst

Analyst Note

| Rajiv Bhatia, CFA |

Wide-moat rated State Street reported decent financial results with revenue of $3.05 billion and adjusted EPS of $2.00 coming in tad bit above the FactSet consensus of $3.00 billion and $1.95, respectively. Overall, we expect to increase our fair value estimate on State Street’s shares by 5%-15% as we tweak our net interest income estimates higher and adjust our tax rate as we previously had modeled for a tax rate increase.

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Company Profile

Business Description

State Street is a leading provider of financial services, including investment servicing, investment management, and investment research and trading. With approximately $38.8 trillion in assets under custody and administration and $3.5 trillion assets under management as of Dec. 31, 2020, State Street operates globally in more than 100 geographic markets and employs more than 38,000 worldwide.

One Lincoln Street
Boston, MA, 02111
T +1 617 786-3000
Sector Financial Services
Industry Asset Management
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 38,932