Insider Buying: SunTrust Director Acquires 20,000 Shares of Stock (STI)
SunTrust (NYSE:STI) Director David Ratcliffe bought 20,000 shares of SunTrust stock on the open market in a transaction dated Thursday, October 24th. The shares were purchased at an average cost of $33.30 per share, with a total value of $666,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $666,000. The purchase was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on STI. Analysts at Sandler O’Neill raised their price target on shares of SunTrust to $37.50 in a research note to investors on Monday, October 21st. They now have a “hold” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of SunTrust from $39.00 to $40.00 in a research note to investors on Monday, October 21st. They now have a “buy” rating on the stock. Finally, analysts at Compass Point reiterated a “buy” rating on shares of SunTrust in a research note to investors on Friday, October 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the stock. SunTrust presently has a consensus rating of “Hold” and a consensus price target of $35.85.
Shares of SunTrust (NYSE:STI) traded up 1.44% during mid-day trading on Monday, hitting $34.195. 1,443,871 shares of the company’s stock traded hands. SunTrust has a 52-week low of $25.05 and a 52-week high of $36.29. The stock has a 50-day moving average of $33.97 and a 200-day moving average of $31.41. The company has a market cap of $18.254 billion and a price-to-earnings ratio of 14.71.
SunTrust (NYSE:STI) last announced its earnings results on Friday, October 18th. The company reported $0.66 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.69 by $0.03. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company posted $1.98 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts expect that SunTrust will post $2.44 EPS for the current fiscal year.
SunTrust Banks, Inc (NYSE:STI) is a commercial banking organization.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.