SunTrust Banks, Inc. (STI) Receives Average Recommendation of “Hold” from Brokerages

Shares of SunTrust Banks, Inc. (NYSE:STI) have been given an average recommendation of “Hold” by the twenty-eight analysts that are currently covering the company, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $69.31.

A number of analysts have recently weighed in on STI shares. Sandler O’Neill lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Monday, October 23rd. Keefe, Bruyette & Woods upgraded shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 12th. Wedbush lowered shares of 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 note on Thursday, December 21st. They noted that the move was a valuation call. UBS Group upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $73.00 in a research note on Tuesday, December 12th. Finally, Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Tuesday, December 26th.

In other news, EVP Jerome T. Lienhard sold 29,248 shares of SunTrust Banks stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total value of $508,037.76. The sale 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 SunTrust Banks stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,548 shares of company stock worth $820,284. 0.55% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in STI. Janus Henderson Group PLC grew its position in shares of SunTrust Banks by 3,033.8% in the second quarter. Janus Henderson Group PLC now owns 2,006,553 shares of the financial services provider’s stock valued at $113,812,000 after purchasing an additional 1,942,524 shares during the period. American Century Companies Inc. grew its position in shares of SunTrust Banks by 31.4% in the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock valued at $435,947,000 after purchasing an additional 1,742,756 shares during the period. APG Asset Management N.V. grew its position in shares of SunTrust Banks by 162.8% in the fourth quarter. APG Asset Management N.V. now owns 1,761,268 shares of the financial services provider’s stock valued at $94,737,000 after purchasing an additional 1,091,177 shares during the period. Victory Capital Management Inc. grew its position in shares of SunTrust Banks by 9.5% in the fourth quarter. Victory Capital Management Inc. now owns 6,359,543 shares of the financial services provider’s stock valued at $410,764,000 after purchasing an additional 549,640 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of SunTrust Banks by 7.3% in the third quarter. Bank of New York Mellon Corp now owns 6,448,472 shares of the financial services provider’s stock valued at $385,427,000 after purchasing an additional 437,387 shares during the period. Institutional investors and hedge funds own 80.71% of the company’s stock.

SunTrust Banks (STI) opened at $69.48 on Friday. The stock has a market cap of $33,070.00, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.37. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $72.06. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.90 earnings per share. sell-side analysts expect that SunTrust Banks will post 4.98 EPS for the current year.

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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.

Analyst Recommendations for SunTrust Banks (NYSE:STI)

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