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SunTrust Banks (NYSE:STI) had its price target cut by BMO Capital Markets from $74.00 to $70.00 in a research note released on Monday, October 22nd. They currently have a market perform rating on the financial services provider’s stock.
Several other badysts have also issued reports on STI. Jefferies Financial Group reiterated a buy rating and set a $80.00 target price on shares of SunTrust Banks in a report on Tuesday, July 24th. Argus boosted their price target on SunTrust Banks to $81.00 and gave the stock a buy rating in a research report on Wednesday, July 25th. Keefe, Bruyette & Woods reissued a buy rating and set a $79.00 price target on shares of SunTrust Banks in a research report on Monday, July 23rd. Zacks Investment Research raised SunTrust Banks from a hold rating to a buy rating and set a $76.00 price target on the stock in a research report on Monday, July 16th. Finally, FIG Partners raised SunTrust Banks from a market perform rating to an outperform rating in a research report on Friday, June 29th. One investment badyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $77.00.
STI traded up $1.38 on Monday, hitting $60.94. 222,926 shares of the company were exchanged, compared to its average volume of 4,959,478. SunTrust Banks has a 12 month low of $56.30 and a 12 month high of $75.08. The firm has a market capitalization of $27.44 billion, a PE ratio of 15.08, a PEG ratio of 1.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.95.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.17. SunTrust Banks had a return on equity of 11.66% and a net margin of 28.17%. The business had revenue of $2.29 billion for the quarter, compared to badyst estimates of $2.35 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. SunTrust Banks’s revenue was down .8% on a year-over-year basis. On average, research badysts forecast that SunTrust Banks will post 5.61 earnings per share for the current year.
In other news, EVP Jorge Arrieta sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $73.13, for a total value of $182,825.00. Following the transaction, the executive vice president now owns 6,148 shares of the company’s stock, valued at $449,603.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Fortis Advisors LLC lifted its stake in SunTrust Banks by 13.4% during the second quarter. Fortis Advisors LLC now owns 6,380 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 755 shares during the last quarter. Trust Co lifted its stake in SunTrust Banks by 23.9% during the first quarter. Trust Co now owns 4,118 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 794 shares during the last quarter. Parallel Advisors LLC lifted its stake in SunTrust Banks by 52.2% during the second quarter. Parallel Advisors LLC now owns 2,318 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 795 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its stake in SunTrust Banks by 1.8% during the second quarter. Beacon Investment Advisory Services Inc. now owns 45,648 shares of the financial services provider’s stock worth $3,014,000 after purchasing an additional 797 shares during the last quarter. Finally, Huntington National Bank lifted its stake in SunTrust Banks by 9.5% during the third quarter. Huntington National Bank now owns 9,704 shares of the financial services provider’s stock worth $648,000 after purchasing an additional 839 shares during the last quarter. 84.13% of the stock is currently owned by institutional investors and hedge funds.
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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