BMO Capital Markets Boosts SunTrust Banks (STI) Price Target to $73.00

SunTrust Banks (NYSE:STI) had its target price lifted by stock analysts at BMO Capital Markets from $61.00 to $73.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 13.00% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Sanford C. Bernstein lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 target price on the stock. in a research report on Friday. Keefe, Bruyette & Woods cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Friday. Zacks Investment Research raised shares of 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. Jefferies Financial Group cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Finally, B. Riley set a $79.00 target price on shares of SunTrust Banks and gave the stock a “buy” rating in a report on Monday, October 15th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $72.02.

NYSE STI traded up $0.23 during mid-day trading on Monday, reaching $64.60. The stock had a trading volume of 3,416,019 shares, compared to its average volume of 5,793,275. SunTrust Banks has a 1 year low of $46.05 and a 1 year high of $75.08. The firm has a market cap of $23.99 billion, a P/E ratio of 11.33, a PEG ratio of 1.32 and a beta of 1.51. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.68.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, January 18th. The financial services provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. SunTrust Banks had a net margin of 26.61% and a return on equity of 12.40%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the business earned $1.09 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities analysts expect that SunTrust Banks will post 5.87 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of SunTrust Banks by 17.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,526 shares of the financial services provider’s stock valued at $1,438,000 after purchasing an additional 4,308 shares during the period. Johnson Financial Group Inc. increased its holdings in shares of SunTrust Banks by 534.5% in the 4th quarter. Johnson Financial Group Inc. now owns 10,197 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 8,590 shares during the period. Stephens Inc. AR increased its holdings in shares of SunTrust Banks by 8.0% in the 4th quarter. Stephens Inc. AR now owns 110,816 shares of the financial services provider’s stock valued at $5,590,000 after purchasing an additional 8,238 shares during the period. ZWJ Investment Counsel Inc. increased its holdings in shares of SunTrust Banks by 16.3% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 23,951 shares of the financial services provider’s stock valued at $1,208,000 after purchasing an additional 3,359 shares during the period. Finally, Highstreet Asset Management Inc. increased its holdings in shares of SunTrust Banks by 169.0% in the 4th quarter. Highstreet Asset Management Inc. now owns 24,157 shares of the financial services provider’s stock valued at $1,218,000 after purchasing an additional 15,178 shares during the period. 83.02% of the stock is currently owned by institutional investors.

About SunTrust Banks

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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Analyst Recommendations for SunTrust Banks (NYSE:STI)

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