A number of firms have modified their ratings and price targets on shares of SunTrust Banks (NYSE: STI) recently:

  • 10/1/2017 – SunTrust Banks had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $55.00 price target on the stock.
  • 9/30/2017 – SunTrust Banks had its “neutral” rating reaffirmed by analysts at Instinet. They now have a $63.00 price target on the stock, up previously from $62.00.
  • 9/28/2017 – SunTrust Banks had its price target raised by analysts at Nomura from $62.00 to $63.00. They now have a “neutral” rating on the stock.
  • 9/25/2017 – SunTrust Banks was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “SunTrust’s shares have underperformed the industry over the past six months. Yet, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Easing margin pressure, rise in loan demand, initiatives to enhance revenue growth and improve efficiency as well as expected rise in lending activates (owing to the potential lesser regulations) should support the company’s profitability. However, its significant exposure to commercial and residential loan portfolios remains a major near-term concern. Also, expectations of weaker mortgage business makes us apprehensive.”
  • 9/22/2017 – SunTrust Banks was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $64.00 price target on the stock. According to Zacks, “SunTrust’s shares have underperformed the industry in a year’s time. Yet, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Easing margin pressure, rise in loan demand, initiatives to enhance revenue growth and improve efficiency as well as expected rise in lending activates (owing to the potential lesser regulations) should support the company’s profitability. Given a solid capital position, the company is expected to continue enhancing shareholder value through efficient capital deployment activities. However, its significant exposure to commercial and residential loan portfolios remains a major near-term concern. Also, expectations of weaker mortgage business makes us apprehensive.”
  • 8/28/2017 – SunTrust Banks had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $63.00 price target on the stock.
  • 8/25/2017 – SunTrust Banks had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $55.00 price target on the stock.
  • 8/9/2017 – SunTrust Banks is now covered by analysts at Wells Fargo & Company. They set an “outperform” rating and a $70.00 price target on the stock.

SunTrust Banks, Inc. (STI) traded down 0.52% during trading on Tuesday, reaching $59.52. The company’s stock had a trading volume of 2,686,377 shares. SunTrust Banks, Inc. has a 12 month low of $43.87 and a 12 month high of $61.69. The stock’s 50-day moving average is $56.12 and its 200 day moving average is $56.01. The company has a market cap of $28.67 billion, a P/E ratio of 15.83 and a beta of 1.31.

SunTrust Banks (NYSE:STI) last released its earnings results on Friday, July 21st. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.05. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.29 billion. SunTrust Banks had a net margin of 20.51% and a return on equity of 8.48%. SunTrust Banks’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 EPS. On average, equities analysts forecast that SunTrust Banks, Inc. will post $4.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.40 dividend. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.26. This represents a $1.60 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Tuesday, August 29th. SunTrust Banks’s payout ratio is 42.67%.

In other news, insider Susan S. Johnson sold 808 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $57.34, for a total transaction of $46,330.72. Following the transaction, the insider now owns 3,515 shares in the company, valued at $201,550.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.

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