State Str Corp Stock Price, News & Analysis

State Street Corporation (NYSE: STT) reported its third-quarter 2021 financial results. As of September 30, 2021, the firm managed $3.9 trillion in assets and administered $43.3 trillion in assets. A conference call is scheduled for October 18, 2021 at 10:00 a.m. ET to discuss results and outlook. The call will be accessible publicly via the Investor Relations website. For more details, please visit State Street's Investor Relations.

State Street Corporation (NYSE: STT) has announced its partnership with the Digital Securities Depository Corporation (DSDC) to provide custody services. DSDC aims to enhance cross-border securities settlement for digital depositary receipts (DDRs), starting with UK’s FTSE 350 equities. State Street will offer various services including safekeeping and transaction settlement for non-US listed securities. This collaboration supports State Street's digital finance strategy, as it continues to build out its capabilities in crypto and distributed market infrastructure.

State Street Corporation (NYSE: STT) has expanded its Direct Access Lending product to include Convertible Bond Arbitrage Strategies, allowing borrowers to use US convertible bonds as collateral. This peer-to-peer securities finance product has seen substantial growth since its launch in Q4 2019, adding new clients and increasing on-loan balances. The enhancements aim to attract both existing and prospective clients, supporting operational efficiencies without raising operational risk.

State Street Corporation (NYSE:STT) has been appointed back office servicing agent for Harbor Capital Advisors’ first actively managed fully transparent fixed income ETFs, launched in September. These include the Harbor Scientific Alpha Income ETF (SIFI) and the Harbor Scientific Alpha High-Yield ETF (SIHY). State Street will provide ETF servicing solutions such as custody, fund accounting, and order-taking. With over 30 years of partnership, State Street manages $58B in assets for Harbor and boasts $42.6 trillion in assets under custody. This collaboration is expected to enhance ETF growth.

State Street Global Advisors has launched the SPDR Loomis Sayles Opportunistic Bond ETF (OBND), an actively managed fund aimed at providing diverse income sources through a mix of investment-grade, high-yield, and non-U.S. dollar denominated debt. Managed by the Loomis Sayles Alpha Strategies team, it targets risk-adjusted total returns by navigating global credit conditions. The fund responds to the current low interest rate landscape, offering investors a solution for yield and diversification.

State Street Corporation (NYSE: STT) will announce its third-quarter 2021 financial results on October 18, 2021, at 7:30 a.m. ET. Investors can access the webcast at investors.statestreet.com and by phone at (833) 380-0399. A replay will be available for two weeks after the call. As of June 30, 2021, State Street had $42.6 trillion in assets under custody and $3.9 trillion in assets under management, operating in over 100 markets globally.

State Street Corporation (NYSE: STT) announced a public offering of 21,724,217 shares of its common stock at $87.60 per share, expected to close on September 14, 2021. The proceeds will fund part of the acquisition of Brown Brothers Harriman Investor Services. If the acquisition does not close, the funds will be used for general corporate purposes. The offering is underwritten by Goldman Sachs & Co. LLC and BofA Securities and registered under the Securities Act of 1933.

State Street Corporation (NYSE: STT) announced plans to sell 21,724,217 shares of common stock in an underwritten public offering. Proceeds will fund part of the cash consideration for acquiring Brown Brothers Harriman Investor Services. This offering is independent of the acquisition's completion and proceeds will be used for general corporate purposes if the acquisition does not finalize. Goldman Sachs and BofA Securities are the underwriters for this offering.

State Street Corporation (NYSE: STT) has announced its acquisition of Brown Brothers Harriman & Co. (BBH)’s Investor Services business for $3.5 billion. The deal targets completion by year-end 2021, subject to regulatory approvals. This acquisition will strengthen State Street’s position as the world’s leading asset servicer, increasing its Assets Under Custody to $37.3 trillion. The merger is expected to provide earnings accretion in the first year with an increased pre-tax margin target of 31% by 2023, thanks to estimated synergies of $260 million by year 3.