Keefe, Bruyette & Woods Downgrades SunTrust Banks (STI) to Market Perform

SunTrust Banks (NYSE:STI) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday, The Fly reports.

Other equities research analysts also recently issued research reports about the company. B. Riley set a $79.00 target price on SunTrust Banks and gave the stock a “buy” rating in a report on Monday, October 15th. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Saturday, January 5th. Edward Jones raised SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. BMO Capital Markets reissued a “hold” rating and set a $61.00 target price on shares of SunTrust Banks in a report on Sunday, January 20th. Finally, ValuEngine raised SunTrust Banks from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. SunTrust Banks has an average rating of “Hold” and a consensus target price of $72.45.

STI stock opened at $64.72 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.95 and a quick ratio of 0.94. SunTrust Banks has a one year low of $46.05 and a one year high of $75.08. The firm has a market cap of $26.39 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 1.20 and a beta of 1.51.

SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, January 18th. The financial services provider reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.10. SunTrust Banks had a net margin of 26.61% and a return on equity of 12.40%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that SunTrust Banks will post 5.86 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Alpha Windward LLC raised its stake in SunTrust Banks by 2,274.4% during the fourth quarter. Alpha Windward LLC now owns 11,492 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 11,008 shares in the last quarter. Willis Investment Counsel grew its holdings in shares of SunTrust Banks by 22.3% during the third quarter. Willis Investment Counsel now owns 267,446 shares of the financial services provider’s stock worth $17,863,000 after purchasing an additional 48,700 shares during the last quarter. G&S Capital LLC grew its holdings in shares of SunTrust Banks by 2.3% during the third quarter. G&S Capital LLC now owns 48,121 shares of the financial services provider’s stock worth $3,214,000 after purchasing an additional 1,062 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new stake in shares of SunTrust Banks during the third quarter worth about $202,000. Finally, United Services Automobile Association grew its holdings in shares of SunTrust Banks by 5.2% during the third quarter. United Services Automobile Association now owns 236,580 shares of the financial services provider’s stock worth $15,801,000 after purchasing an additional 11,622 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

SunTrust Banks Company Profile

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.

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