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TheStreet Open House

5 Banks Set to Pay Investors From Jefferies

Stocks in this article: KEY USB STT CMA NTRS

1. State Street

Shares of State Street of Boston closed at $40.92 Tuesday, returning 1.5% year-to-date, following a 4% return during 2011.

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Based on an 18-cent quarterly payout, the shares are currently yielding 1.72%.

Usdin estimates that State Street will earn $3.90 cents a share during 2012, and raise its quarterly dividend to 24 cents, for dividend payout ratio of 25% and an estimated dividend yield of 2.4%.

The analyst expects State Street to repurchase 21 million shares during 2012, for $1.0 billion, for a combined dividend and repurchase payout ratio of 78%.

Usdin's price target for State Street is $45.00.

The shares trade for 1.6 times tangible book value, and a rather high 15 times the consensus 2012 EPS estimate of $2.93. The consensus 2013 EPS estimate is $3.39.

State Street is very strongly capitalized, and estimated that as of Dec. 30, its Basel III Tier 1 common equity ratio was 12.1%.

Interested in more on State Street? See TheStreet Ratings' report card for this stock.

RELATED STORIES:

>>To see these stocks in action, visit the 5 Banks Set to Pay Investors From Jefferies portfolio on Stockpickr.

-- Written by Philip van Doorn in Jupiter, Fla.

To contact the writer, click here: Philip van Doorn.

To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.
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