This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 Bank Stocks You Need to Watch During Earnings Season (Update 1)

10. State Street
Shares of State Street (STT) of Boston closed at $44.64 Friday, returning 12% year-to-date, following an 11% decline during 2011.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Based on a 24-cent quarterly payout, the shares have a dividend yield of 2.15%.

The shares trade for 1.9 times tangible book value, according to Thomson Reuters Bank Insight, and for just under 10 times the consensus 2013 Earnings estimate of $4.49 a share, among analysts polled by Thomson Reuters. The consensus 2012 EPS estimate is $3.90.

The company in March authorized $1.8 billion in share repurchases, through the first quarter of 2013.

CEO Joseph Hooley in April estimated that the company would "achieve approximately $94 million in annual pre-tax, run-rate expense savings in 2012" from its "business operations and information technology transformation program."

State Street will announce its second-quarter results on July 17, with the consensus among analysts being a profit of 98 cents a share, improving from EPS of 84 cents during the first quarter, and 96 cents during the second quarter of 2011.

KBW analyst Robert Lee rates State Street "Outperform," with a price target of $53, saying on Wednesday that the stock "remains attractively valued," and that "the robust share repurchases and efficiency initiatives should provide some support to earnings in 2012 and into 2013," adding that "new business trends remain positive."

KBW expects State Street to post second-quarter earnings of a dollar a share, while estimating EPS of $3.85 for all of 2012, and $4.50 in 2013.

Interested in more on State Street? See TheStreet Ratings' report card for this stock.
2 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BAC $17.47 0.00%
C $54.18 -0.18%
JPM $66.78 -0.15%
RF $10.13 0.50%
WFC $55.28 -0.58%


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs