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SunTrust (NYSE:STI) was upgraded by stock analysts at Goldman Sachs Group Inc. from a “buy” rating to a “conviction-buy” rating in a report issued on Friday, TheFlyOnTheWall.com reports.

Shares of SunTrust (NYSE:STI) traded up 1.00% on Friday, hitting $38.39. The stock had a trading volume of 5,151,640 shares. SunTrust has a one year low of $26.93 and a one year high of $38.07. The stock has a 50-day moving average of $36. and a 200-day moving average of $34.3. The company has a market cap of $20.494 billion and a P/E ratio of 16.59.

SunTrust (NYSE:STI) last released its earnings data 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. On average, analysts predict that SunTrust will post $2.36 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Merrill Lynch upgraded shares of SunTrust to a “neutral” rating in a research note to investors on Thursday. Separately, analysts at Bank of America Corp. upgraded shares of SunTrust from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $38.00 price target on the stock, up previously from $32.00. Finally, 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. Sixteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $37.05.

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

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