SunTrust Banks (STI) Given Hold Rating at Credit Suisse Group

SunTrust Banks (NYSE:STI)‘s stock had its “hold” rating reissued by stock analysts at Credit Suisse Group in a report issued on Thursday. They currently have a $68.00 price target on the financial services provider’s stock. Credit Suisse Group’s price target points to a potential upside of 3.25% from the stock’s current price.

A number of other analysts have also commented on STI. Nomura boosted their price objective on SunTrust Banks from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, September 28th. Goldman Sachs Group reissued a “buy” rating and set a $74.00 price objective on shares of SunTrust Banks in a report on Thursday. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Friday. Robert W. Baird reissued a “hold” rating and set a $55.00 price objective on shares of SunTrust Banks in a report on Sunday, October 1st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $77.00 price objective on shares of SunTrust Banks in a report on Friday, December 29th. Fifteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $66.97.

SunTrust Banks (NYSE:STI) traded up $0.18 during mid-day trading on Thursday, reaching $65.86. The company had a trading volume of 5,825,600 shares, compared to its average volume of 4,601,800. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $67.02. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The firm has a market cap of $31,110.00, a P/E ratio of 16.89, a P/E/G ratio of 1.58 and a beta of 1.29.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. equities analysts predict that SunTrust Banks will post 4.07 EPS for the current year.

In other news, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were 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. Corporate insiders own 0.55% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Fiduciary Trust Co. bought a new position in SunTrust Banks during the second quarter valued at $118,000. Advisory Services Network LLC grew its holdings in SunTrust Banks by 0.9% during the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 20 shares during the period. Westwood Holdings Group Inc. bought a new position in SunTrust Banks during the second quarter valued at $136,000. Dupont Capital Management Corp grew its holdings in SunTrust Banks by 55.2% during the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 933 shares during the period. Finally, Blue Granite Capital LLC bought a new position in SunTrust Banks during the third quarter valued at $177,000. 80.69% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for SunTrust Banks (NYSE:STI)

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