Financial Performance - Total revenue for 2023 was $11,945 million, a decrease of 1.7% compared to 2022[4] - Net income available to common shareholders for 2023 was $1,821 million, down 31.6% from $2,660 million in 2022[4] - Total revenue for Q1 2024 was $2,587 million, a decrease of 0.3% year-over-year but an increase of 3.6% compared to Q4 2023[35] - Net income for Q1 2024 was $463 million, down 15.7% from Q1 2023, while net income available to common shareholders was $418 million, a decrease of 20.4% year-over-year[44] - Diluted earnings per share on a GAAP basis for Q1 2024 were $1.37, a decline of 9.9% compared to Q1 2023[44] Revenue and Fee Income - Total fee revenue for 1Q24 was $2,422 million, an increase of 3.7% year-over-year[7] - Total fee revenue increased to $1,876 million in Q1 2024, reflecting a 2.3% increase year-over-year and a 2.7% increase from Q4 2023[35] - Management fees for 1Q24 were $510 million, an increase of 11.6% compared to 1Q23[7] - Total fee revenue for 1Q24 was $2,422 million, representing a 3.7% increase compared to 1Q23 and a 2.4% increase from 4Q23[42] Assets and Liabilities - Assets under custody and/or administration increased to $41.81 trillion in 2023, up from $36.74 trillion in 2022[4] - Total assets increased to $298.57 billion in Q1 2024, reflecting a 7.6% increase from the previous quarter[9] - Total assets increased to $338,003 million as of March 31, 2024, representing a 16.2% increase year-over-year[12] - Total liabilities grew to $313,570 million, a 17.9% increase compared to the same period last year[12] - Total deposits rose to $218.89 billion, marking a 4.1% increase compared to Q4 2023[9] Capital and Equity - The company’s Tier 1 capital ratio was 13.4% for 2023, down from 15.4% in 2022[4] - Shareholders' equity totaled $24,433 million, a 2.7% increase from the previous quarter[12] - Total shareholders' equity increased from $23,621 million in 3Q23 to $24,433 million in 1Q24, reflecting a growth of 3.4%[52] - Common equity tier 1 capital ratio decreased from 12.2% in 3Q23 to 11.7% in 1Q24[54] Income and Expenses - Total expenses for 1Q24 were $2,513 million, a decrease of 10.9% from 4Q23[7] - Total expenses for Q1 2024 were $1,963 million, a decrease of 0.8% year-over-year but an increase of 9.8% from Q4 2023[35] - The company reported a total income before income tax expense of $597 million in Q1 2024, reflecting a decrease of 13.6% from Q4 2023[35] - The allowance for credit losses ending balance was $146 million in Q1 2024, down 9.9% year-over-year and 2.7% from Q4 2023[37] Investment and Securities - The total investment securities amounted to $101.5 billion, with 82% classified as HQLA[20] - The held-to-maturity portfolio was valued at $52.9 billion, with a significant portion in government and agency securities[23] - The fair value of mortgage-backed securities in the available-for-sale category was $5.8 billion, with a 99% rating[20] - The company reported a loss of $294 million on the sale of investment securities related to repositioning efforts[46] Market and Growth - The company is focusing on enhancing its investment management services and expanding its market presence through strategic initiatives[39] - Total Assets Under Management increased to $4.336 billion in 1Q24, reflecting a 19.8% growth year-over-year[28] - North America saw total flows of $212.2 billion in 1Q24, with ETFs contributing $265.2 billion, a significant increase[32]

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.Zacks Premium also includes the Zacks Style Scores.What a ...

State Street (STT) is slated to report first-quarter 2024 results on Apr 12 before the opening bell. The company’s quarterly revenues are expected to have decreased on a year-over-year basis, while earnings are likely to have been stable.In the last reported quarter, STT’s earnings beat the Zacks Consensus Estimate. Results were largely driven by stable fee revenues. However, higher expenses, a decline in net interest revenues (NIR) and a rise in provisions hurt results to some extent.State Street has a dec ...

The upcoming report from State Street Corporation (STT) is expected to reveal quarterly earnings of $1.52 per share, indicating no change from the year-ago quarter compared to the year-ago period. Analysts forecast revenues of $3.06 billion, representing a decrease of 1.4% year over year.The consensus EPS estimate for the quarter has been revised 0.9% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates dur ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? State Street Corporation (STT) , which belongs to the Zacks Banks - Major Regional industry, could be a great candidate to consider.This company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 10.87%.For the most recent quar ...

State Street Corporation (STT) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...

(Kitco News) - The gold market continues to move from strength to strength and in a world filled with uncertainty, investors should expect this trend to continue, according to one market analyst.In a recent interview with Kitco News, George Milling-Stanley, Chief Gold Strategist at State Street Global Advisors, said that he is not surprised gold prices are notching new record highs on nearly a daily basis.The comments come as June gold futures last traded at $2,258.30 an ounce, up nearly 1% on the day.Milli ...

UKRAINE - 2021/06/06: In this photo illustration a State Street Corporation logo seen displayed on a ... [+] smartphone with the stock market information of State Street Corporation in the background. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesState Street’s stock (NYSE: STT) has lost 5% YTD, as compared to the 9% rise in the S&P500 over the same period. Further, the stock is currently trading at $74 per share, which is 14% below it ...

BOSTON--(BUSINESS WIRE)--State Street Corporation (“State Street”) (NYSE: STT) announced today that it has issued an aggregate principal amount of $1 billion of senior debt. The offering, which closed today, was structured in keeping with State Street’s ongoing inclusion, diversity, and equity efforts, with Blaylock Van, LLC acting as a joint book-running manager, and Cabrera Capital Markets LLC, CAVU Securities LLC, Mischler Financial Group, Inc. and Tigress Financial Partners LLC each acting as co-manager ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium also includes the Zacks Style Scores.What are the Zacks Style Scores?The Zacks Style Sc ...