SunTrust Banks, Inc. (STI) Receives Average Recommendation of “Hold” from Analysts
Shares of SunTrust Banks, Inc. (NYSE:STI) have been given a consensus rating of “Hold” by the twenty-seven brokerages that are presently covering the company, Marketbeat reports. Eighteen analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $62.97.
Several analysts have recently commented on the stock. Nomura upped their price objective on shares of SunTrust Banks from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Robert W. Baird reaffirmed a “hold” rating and issued a $55.00 price objective on shares of SunTrust Banks in a report on Sunday, October 1st. Wells Fargo & Company assumed coverage on shares of SunTrust Banks in a report on Wednesday, August 9th. They issued an “outperform” rating and a $70.00 price objective on the stock. Morgan Stanley raised shares of SunTrust Banks from an “underweight” rating to an “equal weight” rating and set a $63.00 price objective on the stock in a report on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $62.00 price objective on shares of SunTrust Banks in a report on Tuesday, October 3rd.
In other news, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of STI. State of Alaska Department of Revenue raised its position in shares of SunTrust Banks by 64.5% in the second quarter. State of Alaska Department of Revenue now owns 6,679 shares of the financial services provider’s stock valued at $378,000 after buying an additional 2,620 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in shares of SunTrust Banks in the second quarter valued at about $288,000. Oakbrook Investments LLC purchased a new stake in shares of SunTrust Banks in the second quarter valued at about $1,245,000. Manning & Napier Advisors LLC purchased a new stake in shares of SunTrust Banks in the second quarter valued at about $675,000. Finally, Financial Architects Inc grew its holdings in shares of SunTrust Banks by 0.3% in the second quarter. Financial Architects Inc now owns 56,907 shares of the financial services provider’s stock valued at $3,228,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.
Shares of SunTrust Banks (NYSE:STI) opened at $57.77 on Monday. The company has a market cap of $27,500.44, a price-to-earnings ratio of 14.97, a PEG ratio of 1.56 and a beta of 1.29. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. SunTrust Banks has a twelve month low of $51.06 and a twelve month high of $61.69.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. sell-side analysts predict that SunTrust Banks will post 4.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Wednesday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is 41.03%.
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About SunTrust Banks
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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