M&T Bank Corp Reduces Position in State Street Corporation $STT

M&T Bank Corp significantly reduced its stake in State Street Corporation (NYSE:STT) by 76.9% in the fourth quarter, selling 58,006 shares and retaining 17,468 shares valued at $2.25 million. Despite insider selling, State Street exceeded earnings expectations, reporting an EPS of $2.84 against an estimated $2.64 and revenue of $3.80 billion, and maintains a “Moderate Buy” consensus rating from analysts with an average price target of $154.00. The company also announced a quarterly dividend of $0.84, representing a 2.2% yield.

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