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On its third quarter of 2026 earnings call, held on Oct. 14, 2026, State Street (STT -1.12%) reported a 33% year-over-year increase in per-share earnings to $3.69 and 13% year-over-year growth in total revenue to $4 billion. Fee-based revenue and interest margin expansion demonstrate that scale and pricing power are driving operating efficiency. Three key takeaways from management's comments highlight the long-term outlook.

1. Wealth Management Services Gain Traction With Large Registered Investment AdvisorsState Street expanded its reach into servicing registered investment advisors (RIAs), or independent wealth management firms, by pairing its front-office software with custody services. Winning large advisor mandates validates its strategy to capture growing individual investor asset pools.

During the third quarter, we secured a servicing mandate from one of the largest RIAs in the United States, an important validation of both the market opportunity and our value proposition.
-- Ronald O'Hanley, Chairman and Chief Executive Officer2. Alternative Asset Servicing Expands Across Complex Private MarketsDemand for private credit and alternative asset administration continues to accelerate as institutional portfolios diversify. The company uses specialized software and administrative capabilities to capture higher-margin private market servicing fees.

Alternative servicing fees grew at a double-digit rate year-over-year in the third quarter, reflecting solid growth across private markets and strong client activity.
-- Ronald O'Hanley, Chairman and Chief Executive Officer3. Net Interest Margin Expansion Drives Operating LeverageHigher yields on interest-earning assets expanded net interest income, or the spread earned between interest assets and funding liabilities. Combined with disciplined productivity controls, higher interest income allowed revenue growth to outpace expense growth, thereby strengthening operating leverage.

Net interest income of $864 million increased 21% year-over-year in the third quarter, driven primarily by continued net interest margin expansion and supported by growth in the average interest-earning assets as well.
-- John Woods, Chief Financial OfficerLooking AheadRevenue momentum is accelerating across custody, market services, and asset management, and management isn't hiding its satisfaction about full-year operating leverage. Massive global scale, integrated software platforms, and sticky client relationships position the business to capture higher fee revenue over time. Executive focus remains on pricing discipline, deposit retention, and technology execution.

Taken together, we expect to deliver over 500 basis points of positive operating leverage in 2026.
-- John Woods, Chief Financial OfficerWith assets under custody and administration reaching a record $59.2 trillion and digital initiatives advancing, the strategic foundation supports long-term value creation.

Quarter after quarter, our results continue to validate that our strategy is working and delivering consistent, durable improvement in financial performance.
-- Ronald O'Hanley, Chairman and Chief Executive OfficerThe Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

LOS ANGELES--(BUSINESS WIRE)---- $STT--STT Investors with $100,000 in Losses Have Opportunity to Join State Street Corporation Fraud Investigation with SBS Law.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in STT over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

State Street Corporation (STT - Free Report) reported $4 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 13%. EPS of $3.69 for the same period compares to $2.78 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $4.04 billion, representing a surprise of -0.9%. The company delivered an EPS surprise of +1.1%, with the consensus EPS estimate being $3.65.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how State Street performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Basel III Advanced Approaches - Tier 1 Leverage Ratio: 5.5% versus the three-analyst average estimate of 5.3%.Net interest margin (FTE): 1.1% versus 1.1% estimated by three analysts on average.Assets under Management (AUM): $6,306.00 billion compared to the $6,375.31 billion average estimate based on two analysts.Average balance - Total interest-earning assets: $305.12 billion versus $305.35 billion estimated by two analysts on average.Basel III Standardized Approach - Tier 1 capital ratio: 13.9% versus the two-analyst average estimate of 13.5%.Total fee and other revenue: $3.14 billion compared to the $3.2 billion average estimate based on three analysts.Net Interest Income - fully taxable-equivalent basis: $864 million versus $857.91 million estimated by three analysts on average.Net Interest Income: $864 million compared to the $857.91 million average estimate based on three analysts.Software services: $175 million versus the two-analyst average estimate of $170.68 million.Other fee revenue: $98 million versus $112.65 million estimated by two analysts on average.Foreign exchange trading services: $427 million versus $443.37 million estimated by two analysts on average.Management fees: $797 million compared to the $811.83 million average estimate based on two analysts.View all Key Company Metrics for State Street here>>>

Shares of State Street have returned -6% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

(We are reissuing this article to correct a mistake. The original article, issued on October 14, 2026, should no longer be relied upon.)

State Street shares fell approximately 7% by market open on October 14, 2026, after third-quarter revenue of $4.00 billion came in below the roughly $4.03 billion Wall Street expected. An investigation into potential securities law violations has been opened.

, /PRNewswire/ -- Investors in State Street Corporation (NYSE: STT) watched their shares drop approximately 7% on October 14, 2026, after the Company reported third-quarter revenue of $4.00 billion, short of the roughly $4.03 billion analysts expected. If STT shares in your account lost value on the report, act now. Shareholders who lost money on State Street are encouraged to submit their losses for review today. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (888) SueWallSt.

Analysts had projected third-quarter revenue of roughly $4.03 billion. State Street reported approximately $4.00 billion -- a shortfall of about $30 million to $60 million against the consensus range. Fee revenue of approximately $3.14 billion particularly fell shy of the estimated $3.18 billion analysts had projected.

SueWallSt notifies investors of a pending investigation into whether State Street may not have adequately disclosed fee-revenue trends to investors before the October 14 report. The investigation also concerns whether shareholders who bought STT may have claims for potential securities law violations.

If you bought State Street stock and are now holding a loss, talk to an attorney about your STT losses or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the STT Investigation

Q: Who is eligible to participate in the STT investigation?A: Investors who purchased STT stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

Q: How much did STT stock drop?A: Shares opened at about $161.90 on October 14, 2026, a decline of approximately $12.20, or 7%, from its closing price on October 13, 2026. Investors who purchased shares at allegedly inflated prices and suffered losses may be eligible to seek compensation.

Q: Which statements are being investigated as potentially misleading?A: The investigation concerns statements made before the October 14, 2026 third-quarter disclosure. The firm is examining whether those statements caused investors to purchase State Street securities at inflated prices.

Q: What do STT investors need to do right now?A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible to participate in the investigation.

Q: What documents do I need to participate?A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my STT shares? Can I still recover losses?A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought STT and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate?A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in any resulting action, these matters are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

Q: What if I live outside the United States?A: U.S. securities investigations generally cover purchases on U.S. exchanges regardless of the investor's country of residence.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (888) SueWallSt
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE SueWallSt.com

Why State Street's Options Volume Just Sent a Bullish SignalState Street NYSE: STT reported third-quarter 2026 earnings per share of $3.69, up 33% from a year earlier, as growth in servicing, investment management, markets and net interest income lifted total revenue 13% to $4 billion.

Chief Executive Officer Ron O’Hanley said the company’s results reflected continued momentum across its integrated investment services, investment management and markets businesses. Excluding notable items, the quarter marked State Street’s 11th consecutive period of positive year-over-year operating leverage.

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Iron Mountain Down 23% From Its 1-Year High—Is It Undervalued?“We generated record quarterly servicing and management fees and delivered record FX client volumes,” O’Hanley said. The company reported a 35% pre-tax margin and a 25% return on tangible common equity for the quarter.

Fee Revenue, Assets Reach Records Chief Financial Officer John Woods said fee revenue increased 11% year over year, or 12% excluding an approximately $30 million year-over-year impact largely tied to market-related gains on strategic investments recorded in the prior-year quarter. Net interest income rose 21% to $864 million, supported by net interest margin expansion and higher average interest-earning assets.

The Behemoth BlackRock’s Next Trillion Comes From Private AssetsServicing fees rose 10% to about $1.5 billion, driven by approximately 7% organic growth and higher average market levels. Assets under custody and/or administration ended the quarter at a record $59.2 trillion, up 15% from a year earlier, reflecting market appreciation, net new business and client flows.

Servicing fee sales totaled $68 million during the quarter, with most wins coming from traditional back-office servicing mandates. Alternatives contributed to sales activity, while wealth services showed early traction, Woods said.

In investment management, management fees climbed 20% to $797 million, benefiting from approximately 8% organic growth and higher average market levels. Assets under management reached a record $6.3 trillion, up 16% year over year, while the company posted its sixth consecutive quarter of positive organic AUM growth.

Total net inflows were $7 billion in the third quarter. Long-term asset gathering generated $69 billion of net inflows, following $79 billion in the previous quarter. ETF assets under management reached a record $2.3 trillion. State Street Investment Management introduced 38 products and client solutions, including 13 ETFs. Among the new offerings, State Street partnered with UC Investments to launch an Endowment Strategy ETF with a $2.5 billion seed investment. Woods described it as the largest U.S.-listed ETF launch on record.

Markets, Software and Interest Income Growth State Street’s markets business also posted higher revenue. FX trading services revenue increased 17% to $427 million, while client volumes rose more than 30% year over year to a quarterly record. The company cited activity in Europe, the Middle East and Africa, as well as Asia-Pacific, although Woods said foreign-exchange activity moderated sequentially after a particularly strong second quarter.

Securities finance revenue increased 9% to $151 million, supported by higher assets on loan in agency lending and continued client balance growth in prime services.

Software services revenue rose 5% to $175 million. Software and data revenue increased 10%, while annual recurring revenue rose 8% to $442 million. New software bookings were $14 million, coming from both new clients and expanded existing relationships.

Net interest margin increased 16 basis points from a year earlier to 112 basis points. Woods attributed the improvement to a more favorable funding mix, investment portfolio repricing and the runoff of terminated hedges. Average interest-earning assets rose 3% to $305 billion as deposit growth was partly offset by lower short-term borrowings.

During the question-and-answer session, Woods said the company expects net interest income to rise sequentially again in the fourth quarter and indicated that results would likely fall toward the upper end of State Street’s updated full-year outlook. He said investment portfolio turnover should remain a medium-term contributor to margin expansion.

Investment, Expansion and Capital Returns Third-quarter expenses increased 8% to $2.6 billion. About five percentage points of the increase stemmed from revenue- and performance-related costs, according to Woods, while the remaining growth primarily reflected regional expansion and investment in strategic initiatives. Productivity savings largely offset underlying operating-cost growth.

State Street announced an initial agreement during the quarter to acquire Santander CACEIS’ Latin American Securities Services business. The transaction, expected to close in 2027 subject to approvals and conditions, would expand the company’s asset-servicing presence in Brazil, Mexico and Colombia.

The company also highlighted its strategic efforts in alternatives, digital assets and wealth services. Alternative servicing fees grew at a double-digit year-over-year rate. O’Hanley cited State Street’s work with Apollo on daily pricing for private-credit strategies as an example of efforts to improve private-market infrastructure and transparency.

In digital assets, State Street remains on track to deliver a tokenized fund-servicing capability by year-end, subject to regulatory approval. Its investment-management business is expected to be an early platform adopter. The company also said its State Street Galaxy on-chain liquidity sweep fund became available on the Stellar network during the quarter.

State Street’s wealth-services initiative, developed in partnership with Apex Fintech Solutions, secured a servicing mandate from one of the largest registered investment advisers in the U.S. O’Hanley said the client already used Charles River’s wealth platform, illustrating the company’s aim to cross-sell capabilities across its businesses.

State Street returned $651 million to shareholders in the third quarter, including $400 million in share repurchases and $251 million in declared common dividends. Its standardized CET1 ratio was 11%, while its Tier 1 leverage ratio was 5.5%.

Updated 2026 Outlook For the full year, excluding notable items, State Street raised its fee revenue growth outlook to 13% to 14%, from 12% to 13% previously. It now expects net interest income growth of 15% to 16%, compared with prior guidance of 14% to 15%.

The company expects expenses to rise approximately 8% to 8.5% for the year and anticipates more than 500 basis points of positive operating leverage. State Street also forecast an effective tax rate of about 22% and a total payout ratio approaching 80%, subject to market conditions and other factors.

About State Street (NYSE:STT)State Street Corporation NYSE: STT is a financial services company that provides institutional investors, asset managers, asset owners, insurance companies, official institutions and other organizations with investment servicing, investment management and related financial services. Its offerings include custody and fund administration, accounting, transfer agency, collateral management, securities lending, foreign exchange, trading and other capital markets services.

Through State Street Investment Management, the company manages investment strategies and offers products such as exchange-traded funds, index strategies, active strategies and other portfolio solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways State Street shares fell pre-market despite Q3 earnings rising 33% y/y, beating estimates.STT's net inflows plunged to $7B from $114B, while revenues missed estimates and expense outlook rose.State Street's AUM hit a record $6.31T, while AUC/A reached $59.17T, driven by market gains.
State Street’s (STT - Free Report)  third-quarter 2026 earnings of $3.69 per share surpassed the Zacks Consensus Estimate of $3.65. The bottom line increased 33% from the prior-year quarter.

Despite the earnings beat, shares of State Street declined 9% in pre-market trading, primarily reflecting weaker-than-expected revenues and a sharp slowdown in net asset inflows. Net inflows declined significantly to $7 billion from $114 billion in the preceding quarter, as substantial cash outflows largely offset robust ETF inflows. Investor sentiment was further dampened by management’s upward revision to its 2026 expense growth outlook to 8-8.5%, raising concerns about persistent cost pressures.

While the reported quarter’s results were hurt by higher operating expenses, year-over-year growth in net interest income (NII) and fee revenues, along with a reversal of provisions for credit losses, provided support. Assets under custody and administration (AUC/A) and assets under management (AUM) reached record levels, which was a major positive for STT.

Net income available to common shareholders (GAAP basis) was $1.03 billion, up 28.4% from the year-ago quarter.

STT’s Revenues Improve, Expenses RiseTotal revenues were $4 billion, which increased 12.9% year over year. However, the top line missed the Zacks Consensus Estimate of $4.04 billion.

NII was $864 million, up 20.8% year over year.

The net interest margin expanded 16 basis points year over year to 1.12%.

Total fee revenues increased 11% year over year to $3.14 billion. The rise was driven by an increase in all fee income components, except for other fee revenues.

Non-interest expenses were $2.62 billion, up 7.6% from the prior-year quarter. The rise was due to an increase in all cost components, except for occupancy costs.

The company recorded a negative provision for credit losses of $4 million in the quarter against provisions of $9 million in the prior-year quarter.

The Common Equity Tier 1 ratio was 11% as of Sept. 30, 2026, compared with 11.3% in the corresponding period of 2025. The return on average common equity was 16.4% compared with 13.4% in the year-ago quarter.

Asset Balances Increase for State Street to Record LevelsAs of Sept. 30, 2026, the total AUC/A was a record $59.17 trillion, up 14.5% year over year. The rise was driven by higher quarter-end equity market levels, client flows and net new business.

AUM was a record $6.31 trillion, up 15.8% year over year, led by higher quarter-end market levels and net inflows.

STT’s Share Repurchase UpdateIn the reported quarter, State Street repurchased shares worth $400 million.

Our Take on State StreetBusiness servicing wins, a global footprint and continued rising AUM balance, along with State Street’s buyouts, collaborations and product launches, will likely support fee income growth. Amid a favorable rate regime, decent loan growth and stabilizing funding costs will keep driving NII growth. However, persistently rising expenses and concentrated fee-based revenues are concerning.

State Street currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Earnings Release Dates of STT’s PeersTruist Financial (TFC - Free Report) is slated to announce third-quarter 2026 results on Oct. 16.

Over the past seven days, the Zacks Consensus Estimate for TFC’s quarterly earnings has been unchanged at $1.17. The figure implies 12.5% growth from the prior-year quarter’s actual.

KeyCorp (KEY - Free Report) is slated to announce third-quarter 2026 results on Oct. 20.

Over the past seven days, the Zacks Consensus Estimate for KEY’s quarterly earnings has been unchanged at 46 cents. The figure implies 12.2% growth from the prior-year quarter’s actual.

BOSTON--(BUSINESS WIRE)--State Street Investment Management today announced the launch of four new State Street® S&P 500® Market Sector SPDR® ETFs, building on the sector ETF franchise the firm pioneered nearly 30 years ago. The new funds broaden State Street Investment Management's sector investing lineup with cost-effective exposures designed for benchmark-aware investors, model portfolio builders and asset allocators seeking sector exposures that more closely align with the composition o.

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BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) reported its third-quarter 2026 financial results today. The news release, presentation and additional financial information can be accessed on State Street’s Investor Relations website, http://investors.statestreet.com. A conference call to discuss the firm’s financial results, outlook and related matters will be held at 11:00 a.m. ET today, Wednesday, October 14, 2026. The call will be open to the public.

The conference call will be accessible on State Street’s Investor Relations website, and by telephone at (+1) 800 439 6511 (Participant Passcode: 96234#).

Following the conference call, a replay will be available on State Street’s Investor Relations website for approximately one month.

About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $59.2 trillion in assets under custody and/or administration and $6.3 trillion* in assets under management as of September 30, 2026, State Street operates globally in more than 100 geographic markets and employs approximately 51,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of September 30, 2026 includes approximately $172 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Investment Management are affiliated.

More News From State Street Corporation

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BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced the election of Alexander Vollert to its Board of Directors. Vollert brings more than two decades of leadership experience across global financial services, with deep expertise in technology, operations, and large-scale transformation. Most recently, Vollert served as Group Chief Operating Officer of AXA and Chief Executive Officer of AXA Group Operations, where he led approximately 10,000 employees across 18 countrie.

Banks are heading into earnings season with solid results seen but concerns building in recent weeks. JPMorgan Chase (JPM), Goldman Sachs (GS), Wells Fargo (WFC) and Citigroup (C) report on Tuesday.

Bank of America (BAC) and Morgan Stanley (MS) follow on Wednesday, along with asset managers State Street (STT) and BlackRock (BLK).

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Wall Street generally expects solid earnings and revenue growth for large banks, even against tough comparisons. Analysts predict robust trading, dealmaking and investment banking momentum from the quarter will support results. Net interest income gains should bolster performance, but growth appears to be stabilizing.

However, analysts have taken more cautious stances in the back half of the quarter as Treasury yields rise, fixed-income trading volumes decelerates and M&A activity slows. These Treasury yield pressures can spill over to bond portfolios by increasing unrealized losses, while leading to higher deposit costs, increasing credit stress and slowing loan demand. Any increases to commercial real estate and auto loan delinquencies or provisions for credit loss growth could help indicate signs of weakness.

Bank stocks have struggled over the past three months after many led for much of 2026.

Analysts Preview Bank Earnings
Meanwhile, multiple firms have trimmed price targets for bank stocks in the past few weeks, according to TheFly.

BMO Capital in a research note last week said the backdrop for banks darkened late in the quarter as a rate shock tightened financial conditions, leading to a cooler environment.

HSBC also expects earnings growth to moderate due to tougher capital market comparisons and higher costs. The firm in late September noted investor sentiment surrounding banks reversed due to rising global yields and renewed fiscal concerns.

TD Cowen is a bit more bullish on the outlook for banks, given the performance in the first half of the year. The firm on Thursday resumed coverage of multiple large-cap banks, writing that the fundamental backdrop "seems about as good as it gets." TD Cowen said Goldman's markets business looks "far more durable than in the past" and sees a "strong path ahead" for the investment banking unit.

TD Cowen said its top picks for the sector are Goldman Sachs, Huntington Bancshares (HBAN), State Street and Wells Fargo, according to TheFly.

JPMorgan Chase
Analysts expect JPMorgan Chase to report a 17% increase in earnings to $5.93 per share on more than 10% revenue growth to $51.23 billion.

Wall Street predicts consumer and community banking revenue rises 6% to $20.66 billion. Commercial and investment banking revenue is expected to surge almost 12% to $22.24 billion.

Analysts forecast a 24% jump in asset and wealth management revenue to $7.55 billion. Net interest income is expected to increase more than 11% to $26.86 billion.

JPM stock ticked higher early Monday, continuing its three-day rebound toward its 21-day line.

JPMorgan has formed a flat base with a 366.50 buy point as shares trade between their 200-day and 50-day lines. But it's unclear if shares have truly broken their downtrends.

Goldman Sachs
Analysts expect Goldman Sachs to report about a 5% increase in earnings to $12.86 per share. Revenue is seen rising almost 11% to $16.83 billion.

FactSet forecasts global banking and markets revenue increases more than 17% to $11.86 billion, driven by growth in investment banking fees, advisory, equity underwriting and trading revenues.

Wall Street expects asset and wealth management revenue rises more than 3% to $4.54 billion. Analyst predict a 2.7% increase in net interest income to $3.96 billion.

Meanwhile, Goldman Sachs' board is preparing plans for CEO David Solomon to step down at the end of 2027 or 2028, the Wall Street Journal reported in late September. COO John Waldron is being eyed as a replacement, according to reports.

Goldman Sachs shares eased slightly Monday. GS stock has trended lower since July and continues to trade below its key moving averages.

Goldman stock is now up just 1% this year having retreated from its record high of 153.99 from mid-July.

Wells Fargo
Analysts predict Wells Fargo will report an 11% increase in earnings to $1.85 per share. FactSet sees revenue rising 4% to $22.31 billion, driven by growth in service charges, trust and asset management revenue, and lending and deposit-related fees. Mortgage banking revenue is expected to decline almost 10% to $242 million.

Wall Street forecasts net interest income rises about 6% to $12.66 billion.

WFC stock inched higher Monday and attempted to rebound above its 200-day line.

Shares have rebounded from their mid-May lows but remain down about 10% so far this year.

Citigroup
Wall Street expects Citigroup to report a roughly 43% increase in earnings to $2.65 per share. Analysts predict revenue increases more than 7% to $23.72 billion.

FactSet sees services revenue jumping more than 22% to $6.55 billion while markets revenue rises almost 9% to $6.06 billion.

Analysts forecast banking revenue declines more than 11% to $1.85 billion.

C stock rose about 1% Monday to attempt to rebound above their 21-day line.

Citi shares have rebounded the past three trading days on a bounce from their 200-day line, but still some distance from their 50-day line.

C stock has advanced more than 12% so far this year.

You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison.

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Analysts on Wall Street project that State Street Corporation (STT - Free Report) will announce quarterly earnings of $3.63 per share in its forthcoming report, representing an increase of 30.6% year over year. Revenues are projected to reach $4.04 billion, increasing 14% from the same quarter last year.

The current level reflects an upward revision of 0.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

Given this perspective, it's time to examine the average forecasts of specific State Street metrics that are routinely monitored and predicted by Wall Street analysts.

Analysts predict that the 'Basel III Advanced Approaches - Tier 1 Leverage Ratio' will reach 5.3%. The estimate is in contrast to the year-ago figure of 5.6%.

The combined assessment of analysts suggests that 'Average balance - Total interest-earning assets' will likely reach $305.35 billion. Compared to the present estimate, the company reported $295.46 billion in the same quarter last year.

The consensus estimate for 'Basel III Standardized Approach - Tier 1 capital ratio' stands at 13.4%. The estimate is in contrast to the year-ago figure of 13.9%.

The average prediction of analysts places 'Assets under Management (AUM)' at $6375.31 billion. The estimate is in contrast to the year-ago figure of $5446.00 billion.

Analysts expect 'Net Interest Income' to come in at $857.91 million. The estimate is in contrast to the year-ago figure of $715.00 million.

Analysts forecast 'Total fee and other revenue' to reach $3.20 billion. Compared to the current estimate, the company reported $2.83 billion in the same quarter of the previous year.

According to the collective judgment of analysts, 'Net Interest Income - fully taxable-equivalent basis' should come in at $857.91 million. The estimate is in contrast to the year-ago figure of $716.00 million.

The collective assessment of analysts points to an estimated 'Software services' of $170.68 million. Compared to the current estimate, the company reported $227.00 million in the same quarter of the previous year.

The consensus among analysts is that 'Other fee revenue' will reach $112.65 million. The estimate is in contrast to the year-ago figure of $79.00 million.

Based on the collective assessment of analysts, 'Management fees' should arrive at $811.83 million. The estimate is in contrast to the year-ago figure of $612.00 million.

It is projected by analysts that the 'Servicing fees' will reach $1.52 billion. The estimate is in contrast to the year-ago figure of $1.36 billion.

Analysts' assessment points toward 'Foreign exchange trading services' reaching $443.37 million. The estimate compares to the year-ago value of $416.00 million.

View all Key Company Metrics for State Street here>>>

Shares of State Street have experienced a change of -8.5% in the past month compared to the +1.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), STT is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

State Street gets prior buy rating reaffirmed. The firm has a diversified business model and is considered a global systemically critical bank. Strengths ahead of Q3 results continue to be the A-level investment-grade rating, top- and bottom-line growth, and the Alpha platform. STT's risks include market performance and client outflows.

The biggest number in the Trump Accounts rollout isn’t the $1,000 government contribution. It is the nearly 70 million children now sitting inside a new investment system — one that initially directs contributions into a single State Street ETF. For State Street Corp (NYSE:STT), that could turn a low-fee index fund into a remarkably long-duration customer-acquisition engine.

State Street Got the DefaultThe Treasury Department said automatic enrollment has created Trump Accounts for every eligible child under 18 with a valid Social Security number, taking the total to nearly 70 million. More than $4.5 billion has already been deposited, including government seed contributions, family money and philanthropic gifts.

But the money doesn’t simply sit in cash waiting for parents to decide what to do.

At launch, the State Street SPDR Portfolio S&P 500 ETF (NYSE:SPYM) is the exclusive default investment. Treasury selected four additional low-cost index funds, including products from Vanguard and BlackRock, but those choices were not initially available for parents to select.

These include the iShares Core S&P 500 ETF (NYSE:IVV), the Vanguard Morningstar Total Stock Market ETF (NYSE:VTI), the State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (NYSE:SPTM) and the iShares Core S&P Total U.S. Stock Market ETF (NYSE:ITOT).

That distinction matters. Every dollar that flows into an account before an alternative investment is selected is directed into SPYM, which tracks the S&P 500.

State Street’s investment-management arm calls SPYM the lowest-cost U.S.-listed S&P 500 ETF, with a 0.02% expense ratio. The fee is tiny. The potential scale isn’t.

Small Fees, Very Long HorizonAt today’s scale, the economics aren’t transformational on their own. At a 0.02% fee, the $4.5 billion already deposited into Trump Accounts would generate about $900,000 a year for State Street.

But Trump Accounts are designed to stay invested for years. Contributions can continue until the child turns 18, and the account then transitions into a traditional IRA.

That makes the more interesting State Street opportunity less about immediate fee revenue and more about duration.

The program has already attracted billions in philanthropic and family contributions. Treasury says more than 70 companies have committed to making contributions for employees’ children, while the new rules also allow certain corporate and philanthropic donors to contribute individual stocks.

If the accounts become a permanent savings habit, State Street has effectively been handed exposure to a generation of investors at the moment their investment relationship begins.

Read Next

The S&P 500 Is the Bigger BeneficiaryThere is another layer investors shouldn’t miss.

SPYM owns the largest U.S. companies through the S&P 500. So as money enters the accounts, the beneficiaries aren’t just State Street and its ETF. The capital ultimately flows into the same mega-cap companies already dominating American equity indexes.

That means Nvidia Corp (NASDAQ:NVDA), Microsoft Corp (NASDAQ:MSFT), Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN) and other S&P 500 giants could gain another source of long-duration demand as these accounts accumulate assets.

The immediate numbers are still too small to move those stocks. The more important question is whether Trump Accounts become a durable savings infrastructure rather than a one-time government program.

For State Street, meanwhile, the investment takeaway is unusually simple: investors should watch assets flowing into Trump Accounts, the pace of additional contributions and whether SPYM retains its position as the dominant default.

The headline is 70 million children. The more interesting market story may be the financial infrastructure being built underneath them.

Read Next

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

The market expects State Street Corporation (STT - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 14. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis company is expected to post quarterly earnings of $3.64 per share in its upcoming report, which represents a year-over-year change of +30.9%.

Revenues are expected to be $4.04 billion, up 14% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.48% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for State Street?For State Street, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.58%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that State Street will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that State Street would post earnings of $3.3 per share when it actually produced earnings of $3.65, delivering a surprise of +10.61%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

State Street appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Shares of State Street Corporation (NYSE:STT – Get Free Report) have been given an average rating of “Moderate Buy” by the sixteen ratings firms that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $190.44.

A number of research firms have weighed in on STT. Evercore set a $200.00 price objective on shares of State Street in a report on Monday, July 20th. Truist Financial cut their price target on State Street from $191.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday. Citigroup upped their price target on State Street from $210.00 to $212.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings upgraded State Street from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, September 14th. Finally, JPMorgan Chase & Co. raised their price objective on State Street from $187.00 to $187.50 and gave the company a “neutral” rating in a report on Friday, October 2nd.

Get Our Latest Analysis on STT

State Street Stock Down 0.4% State Street stock opened at $175.67 on Wednesday. The business’s 50-day moving average price is $186.13 and its 200 day moving average price is $167.20. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.04. The firm has a market cap of $48.26 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 0.83 and a beta of 1.41. State Street has a 52 week low of $104.64 and a 52 week high of $195.93. State Street (NYSE:STT – Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.31. State Street had a net margin of 15.02% and a return on equity of 15.26%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter last year, the company earned $2.04 EPS. The business’s revenue was up 23.3% on a year-over-year basis. As a group, sell-side analysts anticipate that State Street will post 13.81 earnings per share for the current year.

State Street Increases Dividend The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Thursday, October 1st will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $3.68 dividend on an annualized basis and a yield of 2.1%. This is an increase from State Street’s previous quarterly dividend of $0.84. State Street’s dividend payout ratio is 32.45%.

Insider Buying and Selling at State Street In other State Street news, EVP W. Hu sold 9,758 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the transaction, the executive vice president directly owned 49,794 shares of the company’s stock, valued at $9,187,988.88. This trade represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the sale, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at $44,377,419.03. This represents a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On State Street Several large investors have recently bought and sold shares of the company. Western Wealth Management LLC lifted its position in shares of State Street by 3.1% during the 1st quarter. Western Wealth Management LLC now owns 2,001 shares of the asset manager’s stock worth $253,000 after buying an additional 60 shares during the last quarter. CX Institutional grew its position in shares of State Street by 1.0% in the 2nd quarter. CX Institutional now owns 9,788 shares of the asset manager’s stock valued at $1,660,000 after buying an additional 98 shares during the last quarter. Greenleaf Trust raised its stake in State Street by 0.6% during the 2nd quarter. Greenleaf Trust now owns 17,295 shares of the asset manager’s stock worth $2,933,000 after acquiring an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in State Street by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 32,024 shares of the asset manager’s stock worth $4,053,000 after acquiring an additional 100 shares in the last quarter. Finally, Bridgewater Advisors Inc. lifted its position in State Street by 5.5% in the first quarter. Bridgewater Advisors Inc. now owns 1,945 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 101 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Company Profile (Get Free Report)

State Street Corporation (NYSE: STT) is a financial services company that provides institutional investors, asset managers, asset owners, insurance companies, official institutions and other organizations with investment servicing, investment management and related financial services. Its offerings include custody and fund administration, accounting, transfer agency, collateral management, securities lending, foreign exchange, trading and other capital markets services.

Through State Street Investment Management, the company manages investment strategies and offers products such as exchange-traded funds, index strategies, active strategies and other portfolio solutions.

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State Street Corporation (NYSE:STT) will release earnings for its third quarter before the opening bell on Wednesday, Oct. 14.

Analysts expect the Boston, Massachusetts-based company to report quarterly earnings of $3.66 per share, up from $2.78 per share in the year-ago period. The consensus estimate for STT’s quarterly revenue is $4.04 billion. It reported $3.54 billion last year, according to Benzinga Pro.

On July 16, State Street reported better-than-expected second-quarter financial results.

Shares of State Street rose 0.6% to close at $174.62 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

JP Morgan analyst Vivek Juneja maintained the stock with a Neutral rating and raised the price target from $176.5 to $187 on Aug. 4, 2026. This analyst has an accuracy rate of 58%. Evercore ISI Group analyst Glenn Schorr maintained the stock with an Outperform rating and boosted the price target from $186 to $200 on July 20, 2026. This analyst has an accuracy rate of 68%. Citigroup analyst Benjamin Gerlinger maintained the stock with a Buy rating and raised the price target from $193 to $210 on July 17, 2026. This analyst has an accuracy rate of 51%. Morgan Stanley analyst Betsy Graseck maintained the stock with an Overweight rating and raised the price target from $183 to $195 on July 17, 2026. This analyst has an accuracy rate of 63%. Keefe, Bruyette & Woods analyst David Konrad maintained the stock with an Outperform rating and raised the price target from $195 to $215 on July 17, 2026. This analyst has an accuracy rate of 75%. Considering buying STT stock? Here’s what analysts think:

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State Street built a second S&P 500 fund specifically to pay larger quarterly checks, and most SPY investors have never heard of it. Before you move any money, there is a performance cost buried in the comparison that changes the…

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is the default core holding for millions of investors, and for good reason. SPY delivers the entire S&P 500 in one trade for an expense ratio of 0.0945%. Income is SPY’s weak spot. State Street, the same firm behind SPY, runs a second fund built from the same index for investors who want a bigger check: the SPDR Portfolio S&P 500 High Dividend ETF (NYSEARCA:SPYD). Most SPY owners have never looked at it.

Same Index, Radically Different Weighting SPY weights every member by company size, so a handful of giants dominate. As of September 28, 2026, NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) alone made up 8.07% of the fund.

SPYD keeps only the highest-yielding S&P 500 members and weights them roughly equally. As of September 28, 2026, no position makes up more than 2% of the portfolio.

What Each Fund Actually Paid Per Share SPY’s most recent quarterly distribution was $1.888834 per share, with $7.582717 paid over the trailing twelve months. Shares traded at $766.19 during the September 28 session.

SPYD paid $0.517794 per share with an ex-dividend date of September 21, 2026, down from the prior quarter’s $0.542849. Its trailing twelve-month total reached $2.059958, and the forward annualized run rate is $2.071176. Shares traded at $45.88 as of September 28, 2026.

Real Estate, Utilities, and Oil Replace Megacap Tech The yield screen changes what you own. SPYD’s June 30 holdings leaned on real estate investment trusts such as Iron Mountain, apartment owners and shopping-center landlords, plus electric utilities, regional banks, tobacco and packaged-food makers, and energy names such as Chevron (NYSE:CVX). The chipmakers and software platforms that drive SPY barely register.

That single fact explains both the higher income and the weaker returns. Mature, slower-growing businesses pay out more cash because they reinvest less.

Performance Price Tag Every Holder Must See SPYD trailed SPY over every window below.

And the figures arrive on different bases: SPY’s are unadjusted price changes that exclude distributions, while SPYD’s are adjusted and include reinvested distributions. This is noteworthy because that difference benefits SPYD, and it still lost over every time period.

Period SPYD SPY One week -2.53% 0.59% One month -8.04% 0.01% Year to date 9.58% 12.36% One year 10.79% 16.43% Five years 45.45% 72.6% Ten years 115.77% 255.43% The one-month slide stands out. The 10-year Treasury yield rose from 4.73% on August 28 to 5.18% on September 24, its highest reading in a year. Rate-sensitive REITs and utilities take that pressure directly. Meanwhile, the VIX read a calm 14.21 on September 22, pointing to sector pain rather than marketwide panic. With Treasuries paying that much, investors can demand more from a dividend fund before accepting stock risk.

A Fee Edge SPY Cannot Match SPYD charges 0.07%, below SPY’s 0.0945%. That is notably cheap for a screened product. SPYD reported net assets of $7.37 billion as of June 30, 2026, a good size for tight trading.

How to Move Money Without a Tax Surprise Selling SPY outside a tax-advantaged account can trigger capital gains, especially on shares held through the long bull run. Consider sending new contributions to SPYD instead, or making the swap in a retirement account. SPYD’s REIT-heavy income also includes a meaningful share of dividends taxed as ordinary income, which makes tax-deferred accounts a natural home. A partial position keeps SPY’s growth engine while raising cash flow.

Who Should Own SPYD, and Who Should Stay With SPY SPYD suits retirees and income investors drawing cash today who accept slower growth and rate sensitivity in exchange for larger quarterly checks and a lower fee. Investors still building wealth, or anyone who plans to reinvest every dividend anyway, may find SPY the better fit. Its ten-year record and technology exposure remain the stronger vehicle for compounding. A sustained drop in Treasury yields would strengthen SPYD’s case; further dividend cuts like this quarter’s would weaken it.

Contact [email protected] for any questions or corrections.

New ETFs extend target maturity bond suite across corporate, high yield and municipal bond exposures

BOSTON--(BUSINESS WIRE)--State Street Investment Management today announced the expansion of its MyIncome ETF suite with the launch of three actively managed target maturity ETFs: the State Street® My2036 Corporate Bond ETF (MYCP), the State Street® My2032 High Yield Corporate Bond ETF (MYHF), and the State Street® My2032 Municipal Bond ETF (MYML). The lineup is designed to give investors a more efficient way to build customized bond ladders.

The launch comes as the State Street MyIncome ETF suite surpasses $1 billion in assets under management,1 underscoring investor interest in tools that they may use to help manage their cash flow, interest rate risk, and liquidity needs.

State Street Investment Management developed the State Street MyIncome ETF suite in 2024 as the first actively managed corporate and municipal target maturity bond ETFs in the U.S. market. The firm expanded the suite with high yield corporate bonds earlier this year and now offers actively managed target maturity ETFs across corporate, high yield, and municipal bonds. These new funds extend the suite with additional vintages in longer-dated maturity years.

“As investors demand reliable sources of income amid an evolving rate environment, bond ladders can offer a practical way to build more predictable cash flows and manage maturity exposure,” said Anna Paglia, Chief Business Officer for State Street Investment Management. “With our MyIncome suite, investors benefit from the bond selection and expertise of our portfolio managers across corporate, high yield, and municipal bond funds.”

State Street Investment Management actively manages the funds with the aim of enhancing the income profile of a target maturity ETF portfolio while managing for liquidity, sector, issuer concentration, and broader macro risks. The funds are designed to distribute any remaining principal and liquidate on or about December 15 in their final year of maturity.

For more information about the State Street MyIncome ETF suite or to access State Street Investment Management’s bond ladder calculator tools, click here.

About State Street Investment Management

At State Street Investment Management, we have been helping create better outcomes for institutions, financial intermediaries, and investors for nearly half a century. Starting with our early innovations in indexing and ETFs, our rigorous approach continues to be driven by market-tested expertise and a relentless commitment to those we serve. With over $6 trillion in assets managed*, clients in 60 countries, and a global network of strategic partners, we use our scale to deliver a comprehensive and cost-effective suite of investment solutions that help investors get wherever they want to go.

*This figure is presented as of June 30, 2026 and includes ETF AUM of $2,203.98 billion USD of which approximately $156.81 billion USD in gold assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Investment Management are affiliated. Please note all AUM is unaudited.

Important Risk Information

State Street Global Advisors (SSGA) is now State Street Investment Management. Please click here for more information.

Investing involves risk, including the risk of loss of principal.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF’s net asset value. Brokerage commissions and ETF expenses will reduce returns.

The trademarks and service marks referenced herein are the property of their respective owners. Third party data providers make no warranties or representations of any kind relating to the accuracy, completeness or timeliness of the data and have no liability for damages of any kind relating to the use of such data.

All information is from SSGA unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor.

Market Risk: The Fund's investments are subject to changes in general economic conditions, general market fluctuations, and the risks inherent in investment in securities markets. Investment markets can be volatile, and prices of investments can change substantially due to various factors, including, but not limited to, economic growth or recession, changes in interest rates, inflation, changes in the actual or perceived creditworthiness of issuers, and general market liquidity. The Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Local, regional, or global events such as war, military conflicts, acts of terrorism, trade policy changes or disputes, the threat or actual imposition of tariffs, natural disasters, the spread of infectious illness or other public health issues, or other events could have a significant impact on the Fund and its investments.

Actively managed ETFs do not seek to replicate the performance of a specified index. The Fund is actively managed and may underperform its benchmarks. An investment in the fund is not appropriate for all investors and is not intended to be a complete investment program. Investing in the fund involves risks, including the risk that investors may receive little or no return on the investment or that investors may lose part or even all of the investment.

The values of debt securities may increase or decrease as a result of the following: market fluctuations, changes in interest rates, actual or perceived inability or unwillingness of issuers, guarantors or liquidity providers to make scheduled principal or interest payments, or illiquidity in debt securities markets.

Investing in high yield fixed income securities, otherwise known as "junk bonds", is considered speculative and involves greater risk of default than investing in investment grade fixed income securities. Issuers of high yield debt securities may have substantially greater risk of insolvency or bankruptcy than issuers of higher-quality debt securities.

In the Fund’s target maturity year, proceeds from bonds maturing prior to the Fund’s liquidation date may be reinvested in cash and cash equivalents. The Funds are designed to terminate on or about December 15 in their final target year of maturity at which point the Funds will distribute remaining net assets to shareholders pursuant to a plan of liquidation. The Funds do not seek to distribute any predetermined amount at maturity.

The municipal market is volatile and can be significantly affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities. Interest rate increases can cause the price of a debt security to decrease. A portion of the dividends you receive may be subject to federal, state, or local income tax or may be subject to the federal alternative minimum tax.

Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates rise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.

Non-diversified funds that focus on a relatively small number of securities tend to be more volatile than diversified funds and the market as a whole.

While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.

“ICE Data” and the “ICE 2036 Maturity US Corporate Index”, "ICE 2032 Maturity US High Yield Index," and “ICE 2032 Maturity US Broad Municipal Index” (the “Indices”) are trademarks of ICE Data Indices, LLC or its affiliates, and have been licensed for use by SSGA. ICE Data has not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product, nor makes any representation or warranty, express or implied, to the owners of the licensee’s products or any member of the public regarding the licensee’s products or the advisability of investing in the licensee’s products, particularly the ability of the Index to track performance of any market or strategy.

ICE DATA DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN AND ICE DATA SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, UNAVAILABILITY, OR INTERRUPTIONS THEREIN.

Distributor State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.

Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit statestreet.com/im. Read it carefully.

Not FDIC Insured - No Bank Guarantee - May Lose Value

© 2026 State Street Corporation. All Rights Reserved.

State Street Investment Management, One Congress Street, Boston, MA 02114

9127147.1.1.AM.RTL
Exp. Date 9/30/2027

State Street Investment Management CEO Yie-Hsin Hung says investors have entered an era where resilient portfolios are increasingly important as higher capital costs, geopolitical tensions and technological change create a wider range of potential outcomes. Hung tells Bloomberg This Weekend hosts David Gura and Christina Ruffini that institutional investors are adding liquidity and other portfolio buffers, while State Street is also expanding access to private markets and providing the default ETF for the US government's Trump Accounts program.

On September 16, 2026, we conducted a DCF analysis for State Street Corp STT, which has shown a strong price performance year-to-date but has recently experienced a decline. The stock is currently priced at $185.13, reflecting a significant increase over the past year. However, our valuation models indicate that STT is overvalued based on both earnings and free cash flow analyses.

DCF Earnings-based intrinsic value: $156.74 (margin of safety: -18.1%) DCF FCF-based intrinsic value: $85.59 (significantly overvalued with -116.3% margin of safety) GF Score™: 74/100, indicating moderate reliability of the DCF inputs What Is STT Worth? DCF Earnings-Based Model The DCF earnings-based model for State Street Corp employs a two-stage approach to estimate intrinsic value. In the first stage, we project earnings growth for the next ten years, followed by a terminal phase where growth stabilizes. The assumptions used in this analysis are detailed in the table below:

Parameter Value Current EPS (TTM, excl. non-recurring) $11.34 10-Year Growth Rate 6.6% 10-Year Treasury Rate 4.99% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% In the growth phase (Years 1-10), we estimate that EPS will grow at a rate of 6.6% per year, discounted at a rate of 11%. In the terminal phase (Years 11-20), we assume a growth rate of 4%, also discounted at 11%. The calculation summary is as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 6.6%, discounted at 11% $98.65 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $58.09 Intrinsic Value Growth + Terminal $156.74 Comparing the current price of $185.13 to the intrinsic value of $156.74 indicates that the stock is modestly overvalued, with a margin of safety of -18.1%. It is important to note that GuruFocus utilizes EPS excluding non-recurring items, as research suggests that stock prices correlate more closely with earnings than with free cash flow. For further analysis, you can visit the STT DCF Calculator.

What Does the Free Cash Flow DCF Say? The free cash flow (FCF)-based intrinsic value for State Street Corp is calculated at $85.59. This figure significantly contrasts with the earnings-based valuation, indicating a consensus that the stock is overvalued, with a margin of safety of -116.3%. This divergence suggests caution for investors relying solely on one model.

How Does GF Value™ Compare to the DCF Models? According to GuruFocus, the GF Value™ for State Street Corp is $125.88, providing a third perspective on valuation. GF Value™ is derived from historical trading multiples, past business growth, and future performance estimates. All three models—earnings-based DCF, FCF-based DCF, and GF Value™—align in suggesting that STT is overvalued at its current price. For more information, visit the GF Value™ page.

What Does STT's GF Score™ Tell Us? The GF Score™ evaluates a company's financial health, profitability, growth potential, valuation, and momentum. State Street Corp's GF Score™ of 74/100 indicates a moderate level of reliability in the DCF inputs, but the low predictability rank of 2 out of 5 stars suggests that the DCF model may be less reliable for this stock. The following table summarizes key metrics:

Metric Rating GF Score™ 74/100 Financial Strength 3/10 Profitability 6/10 Growth 9/10 Valuation 3/10 Momentum 6/10 For more details, visit the STT stock page.

Key Assumptions and Limitations It is crucial to recognize that DCF models are highly sensitive to the assumptions made regarding growth and discount rates. Stocks with low predictability ratings, such as State Street Corp, yield less reliable DCF estimates. The terminal growth rate of 4% is a simplifying assumption that may not reflect future economic conditions accurately.

What This Means for Investors In conclusion, the consensus from the DCF earnings model, the DCF free cash flow model, and the GF Value™ indicates that State Street Corp is overvalued at its current price of $185.13. The guru ownership signal shows that 15 gurus currently hold the stock, with 3 adding and 11 trimming their positions, while insiders have been net selling over the past 12 months. This mixed signal suggests caution for potential investors. For further insights, you can explore the STT DCF Calculator.

Frequently Asked Questions What is STT's intrinsic value based on DCF?

According to our analysis, the earnings-based intrinsic value is $156.74, while the FCF-based value is $85.59.

Is STT overvalued or undervalued?

Both the DCF and GF Value™ models indicate that STT is overvalued at its current price.

How reliable is the DCF model for STT?

The predictability rank of 2 out of 5 stars suggests that the DCF model may be less reliable for this stock.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced executive leadership appointments in support of the next phase of the firm's growth strategy and its continued focus on driving innovation and transformation to help clients achieve better outcomes in increasingly complex global markets. Mostapha Tahiri, currently enterprise chief operating officer, will become president of State Street Alpha, with responsibility for Alpha, Charles River Development (CRD), and a suite.

Arizona State Retirement System boosted its holdings in shares of State Street Corporation (NYSE:STT – Free Report) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,915 shares of the asset manager’s stock after purchasing an additional 3,996 shares during the period. Arizona State Retirement System’s holdings in State Street were worth $13,554,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of STT. California State Teachers Retirement System increased its stake in shares of State Street by 16,194.0% in the second quarter. California State Teachers Retirement System now owns 76,843,386 shares of the asset manager’s stock valued at $13,032,638,000 after buying an additional 76,371,782 shares in the last quarter. BlackRock Inc. bought a new position in shares of State Street in the second quarter worth about $4,139,389,000. Regents of The University of California lifted its position in shares of State Street by 15.6% during the first quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock worth $1,273,841,000 after purchasing an additional 1,358,923 shares in the last quarter. Morgan Stanley lifted its position in shares of State Street by 9.0% during the fourth quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager’s stock worth $673,740,000 after purchasing an additional 433,201 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of State Street by 30.8% during the fourth quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock valued at $588,227,000 after purchasing an additional 1,074,174 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.1% Shares of NYSE:STT opened at $192.03 on Thursday. State Street Corporation has a 52 week low of $104.64 and a 52 week high of $195.93. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $52.75 billion, a PE ratio of 16.93, a PEG ratio of 0.91 and a beta of 1.41. The company has a 50 day moving average price of $185.90 and a two-hundred day moving average price of $159.65.

State Street (NYSE:STT – Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.31. State Street had a net margin of 15.02% and a return on equity of 15.26%. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same period last year, the firm posted $2.04 earnings per share. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. Analysts forecast that State Street Corporation will post 13.76 earnings per share for the current year. State Street Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.92 per share. This is a boost from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, October 1st. State Street’s dividend payout ratio is presently 29.63%.

Insider Transactions at State Street In other news, EVP W. Hu sold 9,758 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the sale, the executive vice president owned 49,794 shares of the company’s stock, valued at $9,187,988.88. This trade represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hanley Ronald P. O sold 14,553 shares of State Street stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total value of $2,680,226.01. Following the transaction, the chief executive officer owned 240,959 shares in the company, valued at $44,377,419.03. This trade represents a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of State Street from $176.50 to $187.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Evercore set a $200.00 target price on State Street in a research report on Monday, July 20th. Truist Financial reaffirmed a “hold” rating and set a $191.00 price target (up from $176.00) on shares of State Street in a research note on Friday, July 17th. Morgan Stanley raised their price target on State Street from $183.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Bank of America lifted their price objective on State Street from $160.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $185.38.

View Our Latest Analysis on State Street

State Street Profile (Free Report)

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792, it serves institutional investors, asset managers, asset owners, insurance companies, official institutions and other financial organizations worldwide.

Through its investment servicing business, State Street provides custody and fund administration, accounting, transfer agency, middle-office outsourcing, collateral management, performance measurement and regulatory reporting services.

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On Wednesday, September 2, State Street Investment Management announced the debut of the State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF (UCBG). Notably, this fund was created through a collaboration between State Street and UC Investments, the investment arm of the University of California.

Key Takeaways:

State Street launched the State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF (UCBG), a new fund made in collaboration with UC Investments.
The fund debuted with a $2.5 billion initial investment from UC Investments. As a result, this makes it the largest-ever U.S.-listed ETF launch.
UCBG blends exposure to the S&P 500 with a smaller allocation to short-duration investment-grade corporate bonds.

Backed by a $2.5 billion initial investment from UC Investments, UCBG debuts as the largest U.S.-listed ETF launch in history, according to State Street.

The fund’s innovative investment approach seeks to replicate the total returns of the UC Investments 90/10 Endowment Strategy Index.

Pairing Equity and Fixed Income Exposure
Specifically, the index offers a 90%/10% equity and fixed income allocation, with 90% focused on large caps within the S&P 500 and the remaining 10% focused on investment-grade short-duration corporate bonds. 

In fact, UC Investments’ top-performing Blue and Gold Endowment Pool inspired the index. Through the ETF wrapper, this institutional strategy is now available to all investors beyond the University of California community.

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“Our relationship with UC Investments spans more than two decades and has always been driven by innovation,” noted Ronald O’Hanley, chairman and chief executive officer of State Street Corporation. “With this launch, we are bringing an endowment-inspired strategy to a far broader range of investors, delivered with the low cost and transparency that make ETFs so powerful.”

A Variety of Portfolio Applications
UCBG’s investment approach may resonate with a number of different portfolios. Given its low expense ratio of six basis points, the fund can slot in as a simple and straightforward way to chase strong returns from the S&P 500 while mitigating risk with short-duration bonds. 

Especially given the macroeconomic environment that we find ourselves in today, this strategy could certainly pay off. Lower-risk approaches are currently seeing broad appeal, and balancing S&P exposure with an attractive bond class may thus offer a potent path through the macroeconomic chaos.

See More: Investors Are Balancing S&P 500 Growth With Gold Hedges

“State Street continues to bring innovative ETFs to market in support of institutional and retail investors, added Todd Rosenbluth, head of research at VettaFi. “While the initial investment stems from a large university, the simple approach is likely to appeal to a broader audience.” 

State Street offers an impressive ETF library, with well over 170 funds listed in the United States. One of its largest funds, the State Street Technology Select Sector SPDR ETF (XLK), holds over $120 billion in assets under management. 

For more news, information, and analysis, visit the Equity ETF Content Hub.