SunTrust Banks Inc. (STI) Receives Outperform Rating from FBR & Co
SunTrust Banks Inc. (NYSE:STI)‘s stock had its “outperform” rating reissued by investment analysts at FBR & Co in a research note issued to investors on Tuesday, StockTargetPrices.com reports. They presently have a $49.00 price objective on the financial services provider’s stock. FBR & Co’s price target suggests a potential upside of 6.15% from the stock’s previous close.
Several other analysts have also weighed in on STI. Deutsche Bank AG reiterated a “buy” rating on shares of SunTrust Banks in a research report on Wednesday, June 15th. Portales Partners upgraded shares of SunTrust Banks from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, June 28th. BMO Capital Markets reiterated a “hold” rating and set a $44.00 target price on shares of SunTrust Banks in a research report on Thursday, July 7th. Wells Fargo & Co. reiterated a “buy” rating on shares of SunTrust Banks in a research report on Sunday, July 10th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $46.00 target price on shares of SunTrust Banks in a research report on Sunday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $44.91.
SunTrust Banks (NYSE:STI) opened at 46.16 on Tuesday. The company’s 50 day moving average is $43.88 and its 200-day moving average is $41.85. The firm has a market cap of $23.14 billion, a price-to-earnings ratio of 12.50 and a beta of 1.31. SunTrust Banks has a 1-year low of $31.07 and a 1-year high of $46.47.
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SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. SunTrust Banks had a net margin of 22.31% and a return on equity of 8.53%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that SunTrust Banks will post $3.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.26 per share. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.04 annualized dividend and a yield of 2.25%. SunTrust Banks’s dividend payout ratio is presently 28.18%.
In related news, insider Susan S. Johnson sold 1,118 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $42.40, for a total transaction of $47,403.20. Following the completion of the transaction, the insider now owns 1,119 shares in the company, valued at $47,445.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.67% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Central Bank & Trust Co. boosted its position in shares of SunTrust Banks by 3.7% in the third quarter. Central Bank & Trust Co. now owns 90,295 shares of the financial services provider’s stock valued at $3,954,000 after buying an additional 3,181 shares during the last quarter. Bremer Trust National Association acquired a new position in shares of SunTrust Banks during the third quarter valued at approximately $1,344,000. First American Bank acquired a new position in shares of SunTrust Banks during the third quarter valued at approximately $2,967,000. Copper Rock Capital Partners LLC boosted its position in shares of SunTrust Banks by 12.4% in the third quarter. Copper Rock Capital Partners LLC now owns 10,837 shares of the financial services provider’s stock valued at $468,000 after buying an additional 1,199 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. acquired a new position in shares of SunTrust Banks during the third quarter valued at approximately $210,000. Institutional investors and hedge funds own 82.37% of the company’s stock.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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