SunTrust Rating Reiterated by JPMorgan Chase & Co. (STI)
SunTrust (NYSE:STI)‘s stock had its “overweight” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research report issued on Thursday. They currently have a $43.50 price objective on the stock, up from their previous price objective of $43.00. JPMorgan Chase & Co.’s target price points to a potential upside of 13.90% from the stock’s previous close.
Shares of SunTrust (NYSE:STI) traded up 1.05% on Thursday, hitting $38.59. 934,382 shares of the company’s stock traded hands. SunTrust has a 52-week low of $31.97 and a 52-week high of $41.26. The stock has a 50-day moving average of $37.98 and a 200-day moving average of $38.72. The company has a market cap of $20.444 billion and a P/E ratio of 14.98.
SunTrust (NYSE:STI) last issued its quarterly earnings data on Monday, July 21st. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.73 by $0.08. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. Analysts expect that SunTrust will post $3.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Wednesday, August 27th.
A number of other analysts have also recently weighed in on STI. Analysts at Zacks reiterated a “neutral” rating on shares of SunTrust in a research note on Wednesday, August 27th. They now have a $40.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of SunTrust in a research note on Wednesday, July 23rd. They now have a $43.00 price target on the stock, down previously from $44.00. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of SunTrust in a research note on Tuesday, July 22nd. They now have a $46.00 price target on the stock, down previously from $47.00. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $42.00.
SunTrust Banks, Inc (NYSE:STI) is a commercial banking organization.
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