Analyst Consensus ?
ConsensusHold37 ratings
Bullish1848.7%
Neutral1540.5%
Bearish410.8%
State Street Corporation · STT · FY2025 Q4 · Calendar Q1 2026
State Street: Strong Results, Modest 2026 Fee-Growth Outlook
The supplied analysis supports a constructive but measured view: strong operating leverage, productivity savings, and new digital, wealth, and private-market offerings provide growth avenues, while 2026 fee-revenue guidance remains modest and execution and regulatory risks remain material.
Reported Before market openNYSEFinancial Services
$49.21B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.97
Consensus $2.84
EPS surprise
+4.6%
Reported versus consensus
Reported revenue
$3.67B
Consensus $3.60B
Revenue surprise
+1.8%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-6.1%
Event window
SPY move
-0.1%
Same window
Abnormal move
-6.0%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
-0.0%
Up to 20 sessions
STTSPY benchmark
Ask FN2 about STT FY2025 Q4
Transcript, numbers and history already loaded
Why did STT fall 6.1% after beating EPS estimates in FY2025 Q4?What changed in STT's guidance and outlook in FY2025 Q4?Give me the bull and bear case for STT after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis emphasizes a transition from 2025's strong results toward 2026 execution: margin near 30%, continued productivity savings, AI and digital-asset expansion, SaaS migration, and 4–6% fee-revenue growth guidance.
Guidance delta
Management analysis describes 2026 fee-revenue guidance of 4–6%, operating leverage above 100 basis points, and total payout around 80%; guidance sentiment is raised.
Key takeaways
- Management analysis says 2025 delivered record revenue and 19% EPS growth with strong operating leverage.
- Pretax margin expanded to about 30% and is expected to remain near that level in 2026.
- AI, digital assets, private markets, wealth services, and ETFs are the main strategic growth areas.
- A $500 million productivity-savings program is intended to offset expense growth and fund reinvestment.
- The supplied scorecard shows EPS of $2.97 versus $2.84 estimated and revenue of $3.667 billion versus $3.601 billion estimated.
Management priorities
- Scale AI-enabled AgenTx capabilities across the firm.
- Grow the digital-asset platform and tokenized product suite.
- Expand ETF, alternative, private-market, and wealth-services offerings.
- Complete the SaaS transition for software and processing services.
- Continue productivity initiatives targeting $500 million or more of annual savings.
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Analyst 52W Price Targets
$174.59Current
$70Low
$137.23Average
$200High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 30, 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 |
|---|---|---|---|---|
| JP Morgan | Neutral | Neutral | Maintain | Aug 4, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 20, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 17, 2026 |
| Truist Securities | Hold | Hold | Maintain | Jul 17, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 17, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 17, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Jul 17, 2026 |
| Citigroup | Buy | Buy | 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 current price $174.59. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | Analyst unavailable | $200 | $183.98 | +14.6% | Jul 20, 2026 |
| Truist Financial | Analyst unavailable | $191 | $183.22 | +9.4% | Jul 17, 2026 |
| Morgan Stanley | Manan Gosalia | $195 | $185.66 | +11.7% | Jul 17, 2026 |
| Barclays | Analyst unavailable | $200 | $185.66 | +14.6% | Jul 17, 2026 |
| Evercore ISI | Glenn Schorr | $186 | $174.42 | +6.5% | Jul 6, 2026 |
| Goldman Sachs | Alexander Blostein | $194 | $170.18 | +11.1% | Jun 30, 2026 |
| Morgan Stanley | Analyst unavailable | $183 | $170.54 | +4.8% | Jun 29, 2026 |
| UBS | Analyst unavailable | $176 | $166.65 | +0.8% | Jun 26, 2026 |
| Wells Fargo | Analyst unavailable | $171 | $153.95 | -2.1% | May 26, 2026 |
| Argus Research | Analyst unavailable | $168 | $155.56 | -3.8% | Apr 21, 2026 |
| Seaport Global | Analyst unavailable | $170 | $149.28 | -2.6% | Apr 20, 2026 |
| Truist Financial | Analyst unavailable | $150 | $148.74 | -14.1% | Apr 20, 2026 |
| Morgan Stanley | Analyst unavailable | $166 | $149.22 | -4.9% | Apr 20, 2026 |
| Evercore ISI | Analyst unavailable | $158 | $149.21 | -9.5% | Apr 20, 2026 |
| RBC Capital | Analyst unavailable | $155 | $148.82 | -11.2% | Apr 20, 2026 |
| Goldman Sachs | Analyst unavailable | $168 | $145.43 | -3.8% | Apr 20, 2026 |
| Barclays | Analyst unavailable | $165 | $145.43 | -5.5% | Apr 20, 2026 |
| Truist Financial | Analyst unavailable | $136 | $124.7 | -22.1% | Jan 20, 2026 |
| Morgan Stanley | Analyst unavailable | $164 | $125.29 | -6.1% | Jan 20, 2026 |
| Truist Financial | Analyst unavailable | $138 | $134.32 | -21.0% | Jan 7, 2026 |
| Loop Capital Markets | Analyst unavailable | $144 | $133.01 | -17.5% | Jan 6, 2026 |
| Barclays | Jason Goldberg | $152 | $129.07 | -12.9% | Jan 5, 2026 |
| Morgan Stanley | Betsy Graseck | $168 | $127.21 | -3.8% | Dec 16, 2025 |
| Truist Financial | David Smith | $131 | $111.37 | -25.0% | Oct 20, 2025 |
| Morgan Stanley | Analyst unavailable | $165 | $111.37 | -5.5% | Oct 20, 2025 |
| Wells Fargo | Mike Mayo | $129 | $111.37 | -26.1% | Oct 20, 2025 |
| Truist Financial | David Smith | $133 | $113.38 | -23.8% | Oct 2, 2025 |
| Goldman Sachs | Analyst unavailable | $128 | $117.25 | -26.7% | Sep 30, 2025 |
| Morgan Stanley | Betsy Graseck | $162 | $115.71 | -7.2% | Sep 29, 2025 |
| Morgan Stanley | Betsy Graseck | $110 | $97.01 | -37.0% | Jun 3, 2025 |
| Truist Financial | Analyst unavailable | $85 | $80.63 | -51.3% | Apr 21, 2025 |
| Goldman Sachs | Alexander Blostein | $98 | $81.26 | -43.9% | Apr 17, 2025 |
| Truist Financial | David Smith | $104 | $97.72 | -40.4% | Jan 21, 2025 |
| Morgan Stanley | Betsy Graseck | $132 | $97.01 | -24.4% | Jan 3, 2025 |
| Evercore ISI | Glenn Schorr | $111 | $97.95 | -36.4% | Jan 2, 2025 |
| Morgan Stanley | Betsy Graseck | $139 | $98.41 | -20.4% | Dec 9, 2024 |
| Bank of America Securities | Nat Schindler | $99 | $91.82 | -43.3% | Oct 16, 2024 |
| Deutsche Bank | Brian Bedell | $90 | $91.82 | -48.5% | Oct 16, 2024 |
| Goldman Sachs | Alexander Bolstein | $106 | $91.82 | -39.3% | Oct 16, 2024 |
| Evercore ISI | Glenn Schorr | $94 | $91.82 | -46.2% | Oct 16, 2024 |
| Wells Fargo | Mike Mayo | $106 | $91.82 | -39.3% | Oct 16, 2024 |
| CFRA | Kenneth Leon | $100 | $91.82 | -42.7% | Oct 15, 2024 |
| Morgan Stanley | Betsy Graseck | $100 | $88.2 | -42.7% | Sep 30, 2024 |
| Deutsche Bank | Brian Bedell | $87 | $88.87 | -50.2% | Sep 23, 2024 |
| Citigroup | Keith Horowitz | $90 | $82.58 | -48.5% | Sep 13, 2024 |
| Evercore ISI | Glenn Schorr | $91 | $85.06 | -47.9% | Jul 17, 2024 |
| Wells Fargo | Mike Mayo | $98 | $84.82 | -43.9% | Jul 17, 2024 |
| Barclays | Jason Goldberg | $103 | $84.82 | -41.0% | Jul 17, 2024 |
| CFRA | Kenneth Leon | $90 | $84.82 | -48.5% | Jul 16, 2024 |
| Jefferies | Ken Usdin | $90 | $76.06 | -48.5% | Apr 15, 2024 |
| UBS | Brennan Hawken | $70 | $73.91 | -59.9% | Apr 12, 2024 |
| Deutsche Bank | Brian Bedell | $75 | $75.95 | -57.0% | Apr 5, 2024 |
| CFRA | Kenneth Leon | $70 | $77 | -59.9% | Apr 2, 2024 |
| CFRA | Kenneth Leon | $78 | $72.51 | -55.3% | Mar 12, 2024 |
| RBC Capital | Gerard Cassidy | $80 | $75.04 | -54.2% | Apr 18, 2023 |
| Deutsche Bank | Analyst unavailable | $77 | $80.7 | -55.9% | Nov 15, 2022 |
| Deutsche Bank | Brian Bedell | $67 | $65.21 | -61.6% | Jun 28, 2022 |
| Piper Sandler | Jeffery Harte | $78 | $62.89 | -55.3% | Jun 24, 2022 |
| Credit Suisse | Michael Brown | $87 | $69.04 | -50.2% | Jun 8, 2022 |
| Deutsche Bank | Brian Bedell | $80 | $67.47 | -54.2% | May 22, 2022 |
| Barclays | Jason Goldberg | $115 | $70.87 | -34.1% | Apr 23, 2022 |
| Jefferies | Ken Usdin | $86 | $75.52 | -50.7% | Apr 21, 2022 |
| Citigroup | Keith Horowitz | $93 | $75.81 | -46.7% | Apr 15, 2022 |
| Deutsche Bank | Brian Bedell | $113 | $82.72 | -35.3% | Apr 11, 2022 |
| UBS | Brennan Hawken | $112 | $83.7 | -35.8% | Apr 6, 2022 |
| Piper Sandler | Jeff Harte | $103 | $98.31 | -41.0% | Jan 6, 2022 |
| Barclays | Jason Goldberg | $130 | $93.86 | -25.5% | Jan 3, 2022 |
| Citigroup | Keith Horowitz | $115 | $98.18 | -34.1% | Oct 22, 2021 |
| Wells Fargo | Mike Mayo | $92 | $85.06 | -47.3% | Oct 4, 2021 |
| KBW | Michael Brown | $103 | $80.71 | -41.0% | Jun 17, 2021 |
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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
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- CCLFY2026 Q3 · September 29, 2026+5.9% EPS+13.4% move
- COSTFY2026 Q4 · September 24, 2026+3.2% EPS+2.9% move
- SNXFY2026 Q3 · September 24, 2026+20.9% EPS-9.9% move
- DRIFY2027 Q1 · September 24, 20260.0% EPS-3.0% move
- CTASFY2027 Q1 · September 23, 2026+3.0% EPS-3.4% move
- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
Get the STT recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-30T21:56:14.497709+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-30T21:56:14.494911+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 2026-09-30. For educational purposes only; not investment advice.