State Street Corporation is an American depository and investment company that provides a variety of financial products to institutional investors all around the world. Learn the latest information and analysis on the company, STT stock price today, stock news, how much one share costs and other information to help you make investment decisions.
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The company dates back to two very old companies. The first, Union Bank, was founded in Boston in 1792 and later became National Union Bank of Boston. The other one, State Street, was a mutual fund custodian founded in 1891. The two companies merged in 1925 to form the State Street Corporation. In 1993, STT created the first exchange-traded fund, the SPDR S&P 500 Trust ETF and remains one of the largest ETF providers.
Analysts see a bright future for the company due to a good track record in dividend payout, which is higher than the average for the financial sector—3.27% vs 2.5%.
The State Street Corporation stock price rose by over 100% in 18 months from the beginning of the pandemic in March 2020 to September 2021, but it fell by 30% since then, which seems to be a good price to buy at $90 with average price targets of $113.
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