SunTrust Banks, Inc. (NYSE:STI) has been assigned an average recommendation of “Hold” from the twenty-four analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $77.07.
STI has been the subject of a number of research reports. Edward Jones initiated coverage on shares of SunTrust Banks in a research report on Tuesday, August 28th. They issued a “hold” rating for the company. Wedbush set a $75.00 price target on shares of SunTrust Banks and gave the company a “hold” rating in a research report on Thursday, September 13th. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price target on shares of SunTrust Banks in a research report on Tuesday, July 24th. Barclays boosted their price target on shares of SunTrust Banks from $77.00 to $79.00 and gave the company a “$72.58” rating in a research report on Monday, July 23rd. Finally, B. Riley set a $79.00 price target on shares of SunTrust Banks and gave the company a “buy” rating in a research report on Monday, October 15th.
Shares of STI stock traded up $0.19 on Monday, reaching $63.53. 3,352,611 shares of the stock were exchanged, compared to its average volume of 4,686,830. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market cap of $28.23 billion, a P/E ratio of 15.73, a PEG ratio of 1.04 and a beta of 1.27. SunTrust Banks has a twelve month low of $56.30 and a twelve month high of $75.08.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.17. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the company earned $1.06 earnings per share. SunTrust Banks’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts forecast that SunTrust Banks will post 5.59 EPS for the current year.
In other news, EVP Jorge Arrieta sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $73.13, for a total value of $182,825.00. Following the completion of the sale, the executive vice president now directly owns 6,148 shares of the company’s stock, valued at $449,603.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. LSV Asset Management raised its holdings in shares of SunTrust Banks by 0.3% in the second quarter. LSV Asset Management now owns 6,471,822 shares of the financial services provider’s stock valued at $427,269,000 after buying an additional 21,800 shares during the last quarter. Boston Partners raised its holdings in shares of SunTrust Banks by 1.3% in the second quarter. Boston Partners now owns 5,449,455 shares of the financial services provider’s stock valued at $359,773,000 after buying an additional 71,355 shares during the last quarter. Northern Trust Corp raised its holdings in SunTrust Banks by 1.7% during the second quarter. Northern Trust Corp now owns 5,163,571 shares of the financial services provider’s stock worth $340,899,000 after purchasing an additional 87,873 shares in the last quarter. Bank of Montreal Can raised its holdings in SunTrust Banks by 6.5% during the third quarter. Bank of Montreal Can now owns 4,387,551 shares of the financial services provider’s stock worth $293,045,000 after purchasing an additional 269,665 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in SunTrust Banks by 2.1% during the third quarter. Alliancebernstein L.P. now owns 4,254,532 shares of the financial services provider’s stock worth $284,160,000 after purchasing an additional 87,486 shares in the last quarter. 84.07% of the stock is owned by institutional investors and hedge funds.
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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