State Street stock dips as KBW downgrades financial firm to market perform on rockier outlook

State Street Corp. STT stock was down 2% in premarket trade on Monday as KBW downgraded the trust bank to market perform from outperform and cut its price target to $73 a share from $84 a share. KBW analyst Michael Brown said the bank lowered its outlook for net interest income to fall by 12% to 18% during in the third quarter and another 2% to 6% in the fourth quarter. The company also expects fee revenue to drop by 1% to 1.5% in the third quarter.

STT stock was down 2% in premarket trade on Monday as KBW downgraded the trust bank to market perform from outperform and cut its price target to $73 a share from $84 a share. KBW analyst Michael Brown said the bank lowered its outlook for net interest income to fall by 12% to 18% during in the third quarter and another 2% to 6% in the fourth quarter. The company also expects fee revenue to drop by 1% to 1.5% in the third quarter.

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Christmas in July at the Broad Street MarketChristmas in July at the Broad Street Market
Fuente: PennLive - 🏆 463. / 53 Leer más »