SunTrust Banks (NYSE:STI) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, The Fly reports.
Several other research firms also recently weighed in on STI. Credit Suisse Group reissued a “hold” rating and issued a $68.00 target price on shares of SunTrust Banks in a report on Thursday. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Friday. Goldman Sachs Group reissued a “buy” rating and issued a $74.00 target price on shares of SunTrust Banks in a report on Thursday. Keefe, Bruyette & Woods raised SunTrust Banks from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 12th. Finally, Wedbush downgraded SunTrust Banks from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $71.00 to $63.00 in a report on Thursday, December 21st. They noted that the move was a valuation call. Fourteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $66.97.
Shares of SunTrust Banks (STI) opened at $65.91 on Monday. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $67.02. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $31,375.35, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29.
In related news, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction that occurred 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 legal filing with the SEC, which is available at this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’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 value of $240,240.00. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fiduciary Trust Co. acquired a new stake in shares of SunTrust Banks in the 2nd quarter worth approximately $118,000. Advisory Services Network LLC lifted its stake in SunTrust Banks by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in SunTrust Banks in the 2nd quarter valued at approximately $136,000. Tiedemann Wealth Management LLC lifted its stake in SunTrust Banks by 12.1% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock valued at $142,000 after buying an additional 2,920 shares in the last quarter. Finally, Dupont Capital Management Corp lifted its stake in SunTrust Banks by 55.2% in the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after buying an additional 933 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
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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.
