SunTrust Banks (NYSE:STI) had its price objective upped by research analysts at Morgan Stanley from $78.00 to $80.00 in a research report issued to clients and investors on Friday. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 15.14% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. UBS Group cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Sandler O’Neill cut SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research note on Monday, October 23rd. Raymond James Financial cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Keefe, Bruyette & Woods upgraded SunTrust Banks from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 12th. Finally, Citigroup cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Fifteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $69.02.
SunTrust Banks (NYSE:STI) traded down $1.93 during midday trading on Friday, reaching $69.48. The company’s stock had a trading volume of 4,794,080 shares, compared to its average volume of 3,769,716. The company has a market cap of $33,294.82 and a PE ratio of 15.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.92. SunTrust Banks has a 12-month low of $51.96 and a 12-month high of $72.06.
In related news, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’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 transaction of $240,240.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jerome T. Lienhard sold 29,248 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total value of $508,037.76. The disclosure for this sale can be found here. Insiders have sold a total of 36,548 shares of company stock worth $820,284 over the last three months. 0.55% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC increased its holdings in shares of SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 20 shares during the last quarter. Krilogy Financial LLC increased its holdings in shares of SunTrust Banks by 1.8% during the 2nd quarter. Krilogy Financial LLC now owns 5,153 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 90 shares during the last quarter. Balentine LLC increased its holdings in shares of SunTrust Banks by 2.9% during the 2nd quarter. Balentine LLC now owns 3,148 shares of the financial services provider’s stock worth $179,000 after acquiring an additional 90 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of SunTrust Banks by 1.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 18,320 shares of the financial services provider’s stock worth $1,039,000 after acquiring an additional 310 shares during the last quarter. Finally, Investec Asset Management PTY Ltd increased its holdings in shares of SunTrust Banks by 3.4% during the 3rd quarter. Investec Asset Management PTY Ltd now owns 28,280 shares of the financial services provider’s stock worth $1,688,000 after acquiring an additional 926 shares during the last quarter. 80.71% of the stock is currently owned by institutional investors and hedge funds.
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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.
