State Street Corp (NYSE: STT) executive Michael L. Richards has completed a transaction involving the sale of his company's common stock. As the Executive Vice President and Chief Administrative Officer, Mr. Richards sold 3,000 shares on April 22, 2026. The shares were liquidated at prices between $153.83 and $154.00 per share, which establishes a weighted average price of $153.89 per share for the total transaction value of $461,669.
Following this specific divestment, Mr. Richards maintains a direct holding of 43,522 shares of State Street common stock. Additionally, an indirect beneficial ownership of 645 shares is held by a domestic partner, a figure that incorporates shares acquired via dividend reinvestment programs.
The timing of this sale coincides with a period of significant upward momentum for the company's stock. State Street has seen a 77.6% gain over the past year and is currently trading near its 52-week high of $156.18. While the stock has performed strongly, analysis from InvestingPro indicates that the shares remain on a list of most undervalued stocks with potential for further growth.
State Street's recent financial performance has been characterized by results that surpassed market projections for the first quarter of 2026. The corporation reported earnings per share (EPS) of $2.84, which outperformed the anticipated $2.62. Furthermore, total revenue reached $3.8 billion, exceeding the forecasted amount of $3.66 billion.
Financial institutions have responded to these results with varying price target adjustments:
- BofA Securities: Raised its price target to $160 while maintaining a Neutral rating, citing impressive revenue guidance.
- Argus: Increased its price target to $168, noting the improvement in earnings compared to the $2.04 per share reported a year prior.
- Truist Securities: Adjusted its price target to $150 and maintained a Hold rating, based on a more optimistic view regarding fee income.
- Keefe, Bruyette & Woods: Set a new price target of $175, highlighting a strong quarter characterized by notable beats in both fees and net interest income.
In terms of future outlook, State Street has provided updated guidance for the company's growth trajectories. The firm is projecting year-over-year growth of 8% to 10% in net interest income, alongside projected growth in fees between 7% and 9%.