Analyst Consensus ?
ConsensusHold38 ratings
Bullish1950.0%
Neutral1539.5%
Bearish410.5%
State Street Corporation · STT · FY2024 Q3 · Calendar Q4 2024
State Street posts record EPS as Alpha and fee growth accelerate
State Street's Q3 results support a constructive earnings-growth case: fee momentum, Alpha wins, ETF activity and operating leverage strengthened together. The durability of that trajectory depends on executing new mandates, sustaining NII and managing succession and capital-allocation questions.
Reported Before market openNYSEFinancial Services
$45.44B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.26
Consensus $2.12
EPS surprise
+6.6%
Reported versus consensus
Reported revenue
$3.26B
Consensus $3.19B
Revenue surprise
+2.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.0%
Event window
SPY move
-0.8%
Same window
Abnormal move
+1.8%
Stock minus SPY
Volume
2.6×
Versus trailing sessions
Subsequent drift
+3.7%
Up to 20 sessions
STTSPY benchmark
Ask FN2 about STT FY2024 Q3
Transcript, numbers and history already loaded
Why did STT rise 1.0% after beating EPS estimates in FY2024 Q3?What changed in STT's guidance and outlook in FY2024 Q3?Give me the bull and bear case for STT after FY2024 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the company moved from raised outlook and pipeline development to reported record EPS, $466 billion of Alpha AUC/A wins, 20 ETF launches and accelerated capital return. The analysis also adds the Apollo hybrid-product partnership and a five-year software-revenue ambition.
Guidance delta
Management raised fee-revenue and NII guidance versus the prior quarter, while targeting 4–5% fee-revenue growth and a 30% medium-term pre-tax margin.
Key takeaways
- Record quarterly EPS of $2.26 was reported, with robust fee and total-revenue growth and positive operating leverage.
- State Street Alpha generated $466 billion of AUC/A wins from two new mandates.
- The ETF franchise launched 20 funds, including three digitally focused offerings.
- Capital return accelerated to $670 million, including $450 million of Q3 share repurchases.
- Management highlighted stronger FX, securities finance and private-market activity.
Management priorities
- Expand State Street Alpha and secure additional custodial mandates.
- Continue ETF launches, including digital-asset-focused products.
- Build software and front-office processing revenue toward $1 billion within five years.
- Continue capital returns and pursue a near-full-year payout ratio of 80–90%.
- Expand in Latin America with modest investments.
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Try FN2 freeEarnings History
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Beat
Miss
Match
Analyst 52W Price Targets
$165.43Previous close
$77Low
$142.84Average
$200High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 20, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Citigroup | Buy | Buy | Maintain | Oct 16, 2026 |
| Truist Securities | Hold | Hold | Maintain | Oct 15, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Oct 15, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Oct 15, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Oct 15, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Oct 6, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 2, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 17, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 17, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 17, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Jul 7, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jun 30, 2026 |
| Argus Research | Buy | Buy | Maintain | Apr 21, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jan 7, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Jan 22, 2025 |
| Wolfe Research | Underperform | Peer Perform | Downgrade | Jul 8, 2024 |
| UBS | Neutral | Neutral | Maintain | Apr 12, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | Jul 17, 2023 |
| Piper Sandler | Neutral | Neutral | Maintain | Jul 1, 2022 |
| Seaport Global | Buy | Buy | Maintain | Jan 5, 2022 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Oct 21, 2019 |
| Bank of America | Buy | Buy | Maintain | Oct 21, 2019 |
| Buckingham Research | Buy | Buy | Maintain | Jun 12, 2019 |
| Keefe Bruyette & Woods | Underperform | Market Perform | Downgrade | Feb 25, 2019 |
| Argus | Hold | Buy | Downgrade | May 5, 2018 |
| Buckingham | Buy | Buy | Maintain | Jan 24, 2018 |
| Jefferies | Hold | Hold | Maintain | Jul 10, 2017 |
| CLSA | Underperform | Underperform | Maintain | Sep 23, 2016 |
| Sandler O'Neill | Hold | Buy | Downgrade | Sep 6, 2016 |
| Bernstein | Underperform | Market Perform | Downgrade | Jan 26, 2015 |
| Rafferty Capital | Buy | Hold | Upgrade | Sep 15, 2014 |
| Rafferty | Buy | Hold | Upgrade | Sep 15, 2014 |
| Evercore Partners | Overweight | Overweight | Maintain | Apr 28, 2014 |
| ISI Group | Buy | Buy | Maintain | Apr 19, 2013 |
| Guggenheim | Neutral | Buy | Downgrade | Feb 5, 2013 |
| Compass Point | Neutral | Neutral | Maintain | Jan 22, 2013 |
| Standpoint Research | Hold | Buy | Downgrade | Nov 7, 2012 |
| Rochdale Securities | Buy | Neutral | Upgrade | Oct 18, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $165.43. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Analyst unavailable | $171 | $165.39 | +3.4% | Oct 15, 2026 |
| RBC Capital | Gerard Cassidy | $175 | $162.92 | +5.8% | Oct 15, 2026 |
| Capital One Financial | Analyst unavailable | $200 | $175.99 | +20.9% | Oct 6, 2026 |
| Truist Financial | Analyst unavailable | $190 | $176.37 | +14.9% | Oct 6, 2026 |
| Evercore ISI | Analyst unavailable | $200 | $183.98 | +20.9% | Jul 20, 2026 |
| Truist Financial | Analyst unavailable | $191 | $183.22 | +15.5% | Jul 17, 2026 |
| Morgan Stanley | Manan Gosalia | $195 | $185.66 | +17.9% | Jul 17, 2026 |
| Barclays | Analyst unavailable | $200 | $185.66 | +20.9% | Jul 17, 2026 |
| Evercore ISI | Glenn Schorr | $186 | $174.42 | +12.4% | Jul 6, 2026 |
| Goldman Sachs | Alexander Blostein | $194 | $170.18 | +17.3% | Jun 30, 2026 |
| Morgan Stanley | Analyst unavailable | $183 | $170.54 | +10.6% | Jun 29, 2026 |
| UBS | Analyst unavailable | $176 | $166.65 | +6.4% | Jun 26, 2026 |
| Wells Fargo | Analyst unavailable | $171 | $153.95 | +3.4% | May 26, 2026 |
| Argus Research | Analyst unavailable | $168 | $155.56 | +1.6% | Apr 21, 2026 |
| Seaport Global | Analyst unavailable | $170 | $149.28 | +2.8% | Apr 20, 2026 |
| Truist Financial | Analyst unavailable | $150 | $148.74 | -9.3% | Apr 20, 2026 |
| Morgan Stanley | Analyst unavailable | $166 | $149.22 | +0.3% | Apr 20, 2026 |
| Evercore ISI | Analyst unavailable | $158 | $149.21 | -4.5% | Apr 20, 2026 |
| RBC Capital | Analyst unavailable | $155 | $148.82 | -6.3% | Apr 20, 2026 |
| Goldman Sachs | Analyst unavailable | $168 | $145.43 | +1.6% | Apr 20, 2026 |
| Barclays | Analyst unavailable | $165 | $145.43 | -0.3% | Apr 20, 2026 |
| Truist Financial | Analyst unavailable | $136 | $124.7 | -17.8% | Jan 20, 2026 |
| Morgan Stanley | Analyst unavailable | $164 | $125.29 | -0.9% | Jan 20, 2026 |
| Truist Financial | Analyst unavailable | $138 | $134.32 | -16.6% | Jan 7, 2026 |
| Loop Capital Markets | Analyst unavailable | $144 | $133.01 | -13.0% | Jan 6, 2026 |
| Barclays | Jason Goldberg | $152 | $129.07 | -8.1% | Jan 5, 2026 |
| Morgan Stanley | Betsy Graseck | $168 | $127.21 | +1.6% | Dec 16, 2025 |
| Truist Financial | David Smith | $131 | $111.37 | -20.8% | Oct 20, 2025 |
| Morgan Stanley | Analyst unavailable | $165 | $111.37 | -0.3% | Oct 20, 2025 |
| Wells Fargo | Mike Mayo | $129 | $111.37 | -22.0% | Oct 20, 2025 |
| Truist Financial | David Smith | $133 | $113.38 | -19.6% | Oct 2, 2025 |
| Goldman Sachs | Analyst unavailable | $128 | $117.25 | -22.6% | Sep 30, 2025 |
| Morgan Stanley | Betsy Graseck | $162 | $115.71 | -2.1% | Sep 29, 2025 |
| Morgan Stanley | Betsy Graseck | $110 | $97.01 | -33.5% | Jun 3, 2025 |
| Truist Financial | Analyst unavailable | $85 | $80.63 | -48.6% | Apr 21, 2025 |
| Goldman Sachs | Alexander Blostein | $98 | $81.26 | -40.8% | Apr 17, 2025 |
| Truist Financial | David Smith | $104 | $97.72 | -37.1% | Jan 21, 2025 |
| Morgan Stanley | Betsy Graseck | $132 | $97.01 | -20.2% | Jan 3, 2025 |
| Evercore ISI | Glenn Schorr | $111 | $97.95 | -32.9% | Jan 2, 2025 |
| Morgan Stanley | Betsy Graseck | $139 | $98.41 | -16.0% | Dec 9, 2024 |
| Bank of America Securities | Nat Schindler | $99 | $91.82 | -40.2% | Oct 16, 2024 |
| Deutsche Bank | Brian Bedell | $90 | $91.82 | -45.6% | Oct 16, 2024 |
| Goldman Sachs | Alexander Bolstein | $106 | $91.82 | -35.9% | Oct 16, 2024 |
| Evercore ISI | Glenn Schorr | $94 | $91.82 | -43.2% | Oct 16, 2024 |
| Wells Fargo | Mike Mayo | $106 | $91.82 | -35.9% | Oct 16, 2024 |
| CFRA | Kenneth Leon | $100 | $91.82 | -39.6% | Oct 15, 2024 |
| Morgan Stanley | Betsy Graseck | $100 | $88.2 | -39.6% | Sep 30, 2024 |
| Deutsche Bank | Brian Bedell | $87 | $88.87 | -47.4% | Sep 23, 2024 |
| Citigroup | Keith Horowitz | $90 | $82.58 | -45.6% | Sep 13, 2024 |
| Evercore ISI | Glenn Schorr | $91 | $85.06 | -45.0% | Jul 17, 2024 |
| Wells Fargo | Mike Mayo | $98 | $84.82 | -40.8% | Jul 17, 2024 |
| Barclays | Jason Goldberg | $103 | $84.82 | -37.7% | Jul 17, 2024 |
| CFRA | Kenneth Leon | $90 | $84.82 | -45.6% | Jul 16, 2024 |
| Jefferies | Ken Usdin | $90 | $76.06 | -45.6% | Apr 15, 2024 |
| Goldman Sachs | Alexander Blostein | $92 | $73.91 | -44.4% | Apr 12, 2024 |
| Deutsche Bank | Brian Bedell | $75 | $75.95 | -54.7% | Apr 5, 2024 |
| CFRA | Kenneth Leon | $70 | $77 | -57.7% | Apr 2, 2024 |
| CFRA | Kenneth Leon | $78 | $72.51 | -52.9% | Mar 12, 2024 |
| RBC Capital | Gerard Cassidy | $80 | $75.04 | -51.6% | Apr 18, 2023 |
| Deutsche Bank | Analyst unavailable | $77 | $80.7 | -53.5% | Nov 15, 2022 |
| Deutsche Bank | Brian Bedell | $67 | $65.21 | -59.5% | Jun 28, 2022 |
| Piper Sandler | Jeffery Harte | $78 | $62.89 | -52.9% | Jun 24, 2022 |
| Credit Suisse | Michael Brown | $87 | $69.04 | -47.4% | Jun 8, 2022 |
| Deutsche Bank | Brian Bedell | $80 | $67.47 | -51.6% | May 22, 2022 |
| Barclays | Jason Goldberg | $115 | $70.87 | -30.5% | Apr 23, 2022 |
| Jefferies | Ken Usdin | $86 | $75.52 | -48.0% | Apr 21, 2022 |
| Citigroup | Keith Horowitz | $93 | $75.81 | -43.8% | Apr 15, 2022 |
| Deutsche Bank | Brian Bedell | $113 | $82.72 | -31.7% | Apr 11, 2022 |
| UBS | Brennan Hawken | $112 | $83.7 | -32.3% | Apr 6, 2022 |
| Piper Sandler | Jeff Harte | $103 | $98.31 | -37.7% | Jan 6, 2022 |
| Barclays | Jason Goldberg | $130 | $93.86 | -21.4% | Jan 3, 2022 |
| Citigroup | Keith Horowitz | $115 | $98.18 | -30.5% | Oct 22, 2021 |
| Wells Fargo | Mike Mayo | $92 | $85.06 | -44.4% | Oct 4, 2021 |
| KBW | Michael Brown | $103 | $80.71 | -37.7% | Jun 17, 2021 |
Track every rating change on STT the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationState Street Corporation (STT) is a well-established global financial services firm that delivers a wide array of financial products and specialized services to institutional investors worldwide. The company's extensive offerings include core investment servicing functionalities such as secure asset custody, detailed product accounting, daily valuation, comprehensive administration, master trust and master custody arrangements, and specific depotbank services. It also manages record-keeping, cash, foreign exchange, brokerage, and various trading activities. Further services in this area encompass securities finance, advanced custody solutions, deposit and short-term investment facilities, as well as loan and lease financing. State Street additionally provides operational outsourcing for both traditional and alternative investment managers, complemented by sophisticated analytics for performance, risk, and compliance, along with financial data management.…
Historical context
All STT earningsFinancial Services peers this season
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| HDB HDFC Bank Limited | FY2027 Q2 · Calendar Q4 2026 | -2.0% | — | HDFC Bank: Strong deposits and asset quality, margins under pressure |
| MTB-PH M&T Bank Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.2% | — | M&T Bank: Loan Growth Holds Up as Rates Pressure Margins |
| MTB-PJ M&T Bank Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.2% | — | M&T: Deposit growth supports margins as AI use expands |
| RF-PE Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee Growth and Credit Quality Support Q3 |
Latest beats and misses
Who reports nextBeat on EPS
Missed on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
- Polygon adjusted daily market bars · 2026-10-20T08:50:41.986950+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-20T08:50:41.984141+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-20. For educational purposes only; not investment advice.