State Street falls after Truist Securities downgrades to 'hold'

Charles Schwab

07/01/2026 17:12

** Shares of custodian bank State Street STT.N fall 1.17% to 132.75

** Truist Securities downgrades STT to "hold" from "buy"

** Brokerage says downgrade is less about seeing a new incremental negative in STT and more about wanting some balance in our ratings

** We also feel that we have enough equity exposure via our "buy" ratings on Robinhood HOOD.O and Charles Schwab SCHW.N, and it seems prudent to hedge a bit by moving STT to "hold", brokerage says

** 13 of 18 brokerages rate the stock "buy" or "higher", 4 "hold" and 1 "sell"; median PT is $143 — LSEG

** Including session's move, STT up 35.4% in the last 12 months

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))