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SunTrust (NYSE:STI) was upgraded by research analysts at Bank of America Corp. from an “underperform” rating to a “neutral” rating in a report released on Thursday, American Banking and Market News reports. The firm currently has a $38.00 price target on the stock, up from their previous price target of $32.00. Bank of America Corp.’s price target indicates a potential upside of 1.96% from the stock’s previous close.

The analysts wrote, “Further, STI has demonstrated conservative expense controls in the face of top-line pressure, and believe that positive 2014 guidance on both revenue and expense opportunities could serve as a potential catalyst for upward estimate revisions. Lastly, we expect increasing capital payout following the 2014 CCAR results (March), to be viewed positively by investors that are looking for stronger capital return here. We are raising our ’14 EPS estimate to $2.95 (from $2.88) and ’15 estimate to $3.20 (from $3.15) primarily on lower provisioning expenses due to improving credit trends. Our 4Q13 EPS estimate of $0.70 remains unchanged.”

A number of other analysts have also recently weighed in on STI. Analysts at BMO Capital Markets upgraded shares of SunTrust from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $42.00 price target on the stock, up previously from $40.00. Separately, analysts at Barclays upgraded shares of SunTrust from an “underweight” rating to an “equal weight” rating in a research note to investors on Monday. They now have a $40.00 price target on the stock, up previously from $34.00. Finally, analysts at Morgan Stanley downgraded shares of SunTrust from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday, December 4th. They now have a $40.00 price target on the stock. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.17.

SunTrust (NYSE:STI) traded up 2.04% on Thursday, hitting $38.03. The stock had a trading volume of 4,185,994 shares. SunTrust has a 1-year low of $26.93 and a 1-year high of $37.44. The stock has a 50-day moving average of $36.07 and a 200-day moving average of $34.32. The company has a market cap of $20.301 billion and a price-to-earnings ratio of 16.27.

SunTrust (NYSE:STI) last posted its quarterly 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 last year, the company posted $1.98 earnings per share. SunTrust’s revenue was up .9% compared to the same quarter last year. Analysts expect that SunTrust will post $2.36 EPS for the current fiscal year.

SunTrust Banks, Inc (NYSE:STI) is a commercial banking organization.

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