SunTrust Banks (STI) Upgraded to “Outperform” by Keefe, Bruyette & Woods
SunTrust Banks (NYSE:STI) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, The Fly reports.
Several other brokerages have also recently weighed in on STI. Credit Suisse Group raised shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $56.00 to $60.00 in a research note on Monday, October 9th. Barclays raised their price target on shares of SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Raymond James Financial cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Robert W. Baird reissued a “hold” rating and issued a $55.00 price objective on shares of SunTrust Banks in a report on Friday, August 25th. Finally, Zacks Investment Research downgraded SunTrust Banks from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Fifteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. SunTrust Banks has an average rating of “Hold” and a consensus target price of $64.58.
Shares of SunTrust Banks (STI) traded up $0.92 on Tuesday, hitting $65.54. 4,405,005 shares of the stock traded hands, compared to its average volume of 3,400,522. The company has a market cap of $31,037.36, a PE ratio of 16.89, a P/E/G ratio of 1.76 and a beta of 1.29. SunTrust Banks has a one year low of $51.96 and a one year high of $65.88. 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 (NYSE:STI) last issued its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. equities research analysts forecast that SunTrust Banks will post 4.06 EPS for the current year.
In other news, Vice Chairman Mark A. Chancy sold 4,000 shares of SunTrust Banks stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total value of $72,006.00. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Beacon Capital Management bought a new position in shares of SunTrust Banks in the fourth quarter worth $0. Guardian Life Insurance Co. of America increased its position in shares of SunTrust Banks by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 1,893 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 18 shares during the period. Whittier Trust Co. increased its position in shares of SunTrust Banks by 3.1% in the first quarter. Whittier Trust Co. now owns 1,909 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 58 shares during the period. Independent Advisor Alliance bought a new position in shares of SunTrust Banks in the fourth quarter worth $105,000. Finally, Fiduciary Trust Co. bought a new position in shares of SunTrust Banks in the second quarter worth $118,000. 80.83% of the stock is owned by institutional investors.
SunTrust Banks Company Profile
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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