NYSE:STTCapital Markets
State Street (STT) Completes $500 Million Preferred Offering, Is The Stock Fully Valued?
State Street (STT) has moved to refine its capital structure, filing amendments in Massachusetts to define its new Series L preferred stock after completing a $500 million offering of callable, non cumulative, perpetual depositary shares.
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The preferred offering and related amendments come at a time when State Street’s share price has moved firmly higher, with a 90 day share price return of 27.94% and a 1 year total shareholder return of 78.08%, which...