SunTrust Banks (NYSE:STI) has been given an average recommendation of “Hold” by the twenty-seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Eighteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $70.40.
A number of research firms recently weighed in on STI. Susquehanna Bancshares set a $75.00 price target on SunTrust Banks and gave the stock a “hold” rating in a research note on Tuesday, April 10th. Morgan Stanley upped their price target on SunTrust Banks from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Credit Suisse Group upped their price target on SunTrust Banks from $73.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, April 23rd. B. Riley reaffirmed a “hold” rating and set a $70.00 price target on shares of SunTrust Banks in a research note on Monday, January 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $79.00 price target on shares of SunTrust Banks in a research note on Sunday, January 21st.
In other SunTrust Banks news, Director Frank P. Scruggs, Jr. bought 1,000 shares of SunTrust Banks stock in a transaction dated Wednesday, May 16th. The stock was bought at an average cost of $69.01 per share, with a total value of $69,010.00. Following the completion of the acquisition, the director now directly owns 8,501 shares in the company, valued at approximately $586,654.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Susan S. Johnson sold 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $71.04, for a total value of $255,744.00. Following the completion of the transaction, the insider now directly owns 8,857 shares of the company’s stock, valued at $629,201.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,850 shares of company stock valued at $961,044. Company insiders own 0.52% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in STI. Private Capital Group LLC grew its holdings in shares of SunTrust Banks by 2,085.5% in the first quarter. Private Capital Group LLC now owns 1,508 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 1,439 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of SunTrust Banks by 107.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 843 shares in the last quarter. First Personal Financial Services grew its holdings in shares of SunTrust Banks by 114.3% in the first quarter. First Personal Financial Services now owns 1,963 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,047 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of SunTrust Banks in the fourth quarter valued at approximately $156,000. Finally, Avestar Capital LLC bought a new position in shares of SunTrust Banks in the fourth quarter valued at approximately $162,000. 84.47% of the stock is owned by institutional investors.
Shares of SunTrust Banks traded down $0.73, reaching $68.65, during midday trading on Monday, Marketbeat Ratings reports. The company’s stock had a trading volume of 1,796,271 shares, compared to its average volume of 2,542,920. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $73.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.91. The company has a market capitalization of $32.25 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.02 and a beta of 1.33.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.18. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. analysts anticipate that SunTrust Banks will post 5.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Wednesday, May 30th. SunTrust Banks’s dividend payout ratio (DPR) is presently 39.60%.
SunTrust Banks Company Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.
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