SunTrust Banks (STI) Downgraded by Jefferies Financial Group

Jefferies Financial Group lowered shares of SunTrust Banks (NYSE:STI) from a buy rating to a hold rating in a research report report published on Tuesday, Marketbeat Ratings reports. Jefferies Financial Group also issued estimates for SunTrust Banks’ Q4 2018 earnings at $1.31 EPS, FY2018 earnings at $5.51 EPS, Q1 2019 earnings at $1.30 EPS, Q3 2019 earnings at $1.48 EPS, Q4 2019 earnings at $1.53 EPS, FY2019 earnings at $5.80 EPS and FY2020 earnings at $6.00 EPS.

Several other equities research analysts also recently commented on STI. Zacks Investment Research downgraded shares of SunTrust Banks from a buy rating to a hold rating in a research report on Monday. Robert W. Baird upgraded shares of SunTrust Banks from a neutral rating to an outperform rating and lowered their target price for the company from $70.00 to $62.00 in a research note on Wednesday, January 2nd. Credit Suisse Group decreased their price target on shares of SunTrust Banks from $75.00 to $70.00 and set a neutral rating on the stock in a research report on Friday, December 7th. ValuEngine downgraded shares of SunTrust Banks from a hold rating to a sell rating in a report on Thursday, November 1st. Finally, Edward Jones raised shares of SunTrust Banks from a hold rating to a buy rating in a report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. SunTrust Banks presently has a consensus rating of Hold and a consensus target price of $74.08.

SunTrust Banks stock traded down $0.15 during trading on Tuesday, reaching $55.22. 928,687 shares of the company’s stock were exchanged, compared to its average volume of 5,108,074. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. SunTrust Banks has a 52-week low of $46.05 and a 52-week high of $75.08. The stock has a market cap of $24.92 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.17. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.06 EPS. Analysts forecast that SunTrust Banks will post 5.6 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Friday, November 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.62%. The ex-dividend date was Thursday, November 29th. SunTrust Banks’s payout ratio is currently 49.50%.

Large investors have recently modified their holdings of the business. Moody National Bank Trust Division increased its holdings in SunTrust Banks by 48.9% in the 4th quarter. Moody National Bank Trust Division now owns 1,072 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 352 shares during the last quarter. Denali Advisors LLC bought a new stake in SunTrust Banks in the 3rd quarter worth approximately $127,000. Flagship Harbor Advisors LLC bought a new stake in SunTrust Banks in the 2nd quarter worth approximately $134,000. Oakworth Capital Inc. lifted its position in SunTrust Banks by 117.0% in the 3rd quarter. Oakworth Capital Inc. now owns 2,300 shares of the financial services provider’s stock worth $154,000 after buying an additional 1,240 shares during the last quarter. Finally, Sapphire Star Partners LP bought a new stake in SunTrust Banks in the third quarter valued at approximately $167,000. Institutional investors and hedge funds own 82.60% of the company’s stock.

About SunTrust Banks

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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