State Street Corporation (STT) released its first quarter results on Friday, April 16, 2021. The company reported net earnings of $1.37 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 15 percent compared to the same period a year ago.
State Street Corporation was founded in 1792 and is headquartered in Boston, Massachusetts. State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product accounting; daily pricing and administration; master trust and master custody; depotbank; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
State Street Corporation's revenue decreased 7 percent over the past trailing twelve-month period versus the previous twelve-month period. Operating margins decreased to 21.56% over the same period. Net earnings for past trailing twelve months were $2205.0 million, up 3% from the prior year.
Overall liquidity of the balance sheet, as measured by the current ratio, increased 25.81% this past year. The current ratio for State Street Corporation now stands at 2.08. The company decreased share outstanding by 1.11%.
Shares of STT are currently trading around $80.43. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 13.26 and price to book ratio of 1.24.