SunTrust Banks (STI) Earns “Hold” Rating from Oppenheimer

SunTrust Banks (NYSE:STI)‘s stock had its “hold” rating restated by research analysts at Oppenheimer in a report issued on Monday.

STI has been the subject of several other research reports. Nomura upped their price target on SunTrust Banks from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Barclays increased their price objective on SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Wedbush cut SunTrust Banks from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $71.00 to $63.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $77.00 price objective on shares of SunTrust Banks in a research report on Friday, December 29th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $55.00 price objective on shares of SunTrust Banks in a research report on Sunday, October 1st. Fifteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $68.48.

SunTrust Banks (NYSE:STI) traded up $0.64 during trading on Monday, hitting $68.58. The stock had a trading volume of 5,101,700 shares, compared to its average volume of 4,156,008. SunTrust Banks has a twelve month low of $51.96 and a twelve month high of $69.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market capitalization of $33,270.00, a PE ratio of 17.58, a PEG ratio of 1.36 and a beta of 1.29.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. sell-side analysts expect that SunTrust Banks will post 4.74 EPS for the current fiscal year.

In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total value of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of SunTrust Banks during the fourth quarter valued at $4,747,000. State of Alaska Department of Revenue boosted its stake in shares of SunTrust Banks by 148.1% during the fourth quarter. State of Alaska Department of Revenue now owns 52,066 shares of the financial services provider’s stock valued at $3,362,000 after acquiring an additional 31,077 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of SunTrust Banks by 97.9% during the fourth quarter. Acadian Asset Management LLC now owns 5,148 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 2,547 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of SunTrust Banks by 3.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,658,745 shares of the financial services provider’s stock valued at $107,139,000 after acquiring an additional 51,904 shares during the last quarter. Finally, National Pension Service boosted its stake in shares of SunTrust Banks by 0.8% during the fourth quarter. National Pension Service now owns 479,977 shares of the financial services provider’s stock valued at $31,002,000 after acquiring an additional 3,705 shares during the last quarter. 80.65% of the stock is currently 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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