SunTrust Banks (NYSE:STI) was upgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, December 12th.
Several other analysts also recently weighed in on STI. Piper Jaffray Companies reiterated a “buy” rating and issued a $63.00 price objective on shares of SunTrust Banks in a research report on Monday, August 28th. Robert W. Baird reiterated a “hold” rating and issued a $55.00 price objective on shares of SunTrust Banks in a research report on Friday, August 25th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Friday, September 22nd. Nomura boosted their target price on SunTrust Banks from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, September 28th. Finally, Instinet reissued a “neutral” rating and set a $63.00 target price (up from $62.00) on shares of SunTrust Banks in a research note on Saturday, September 30th. Fifteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $66.97.
Shares of SunTrust Banks (STI) traded up $0.05 on Tuesday, hitting $65.91. The stock had a trading volume of 4,768,316 shares, compared to its average volume of 4,643,425. The company has a market cap of $31,110.00, a P/E ratio of 16.90, a PEG ratio of 1.58 and a beta of 1.29. SunTrust Banks has a 12-month low of $51.96 and a 12-month high of $67.02. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.06. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. SunTrust Banks’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. equities research analysts expect that SunTrust Banks will post 4.07 EPS for the current year.
In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Abner Herrman & Brock LLC increased its position in SunTrust Banks by 1.0% in the fourth quarter. Abner Herrman & Brock LLC now owns 166,804 shares of the financial services provider’s stock worth $10,774,000 after buying an additional 1,580 shares in the last quarter. Hellman Jordan Management Co. Inc. MA purchased a new stake in SunTrust Banks in the third quarter worth about $499,000. AXA increased its position in SunTrust Banks by 1.6% in the third quarter. AXA now owns 99,801 shares of the financial services provider’s stock worth $5,966,000 after buying an additional 1,601 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of SunTrust Banks during the third quarter worth about $191,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of SunTrust Banks by 1.1% during the third quarter. Public Employees Retirement System of Ohio now owns 248,115 shares of the financial services provider’s stock worth $14,830,000 after purchasing an additional 2,773 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
About SunTrust Banks
SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.
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