SunTrust Banks Inc. (NYSE:STI) had its price objective increased by Credit Agricole SA from $52.00 to $54.00 in a report issued on Friday. The firm currently has a buy rating on the financial services provider’s stock.
A number of other research analysts have also weighed in on STI. Nomura reaffirmed a hold rating on shares of SunTrust Banks in a research note on Saturday, July 9th. Zacks Investment Research raised shares of SunTrust Banks from a hold rating to a buy rating and set a $49.00 price objective on the stock in a research note on Wednesday, September 21st. Deutsche Bank AG reaffirmed a buy rating on shares of SunTrust Banks in a research note on Wednesday, June 15th. Compass Point raised their price objective on shares of SunTrust Banks from $45.00 to $48.00 and gave the company a buy rating in a research note on Tuesday, July 26th. Finally, Robert W. Baird raised shares of SunTrust Banks from an underperform rating to a neutral rating and set a $41.00 price objective on the stock in a research note on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. SunTrust Banks currently has a consensus rating of Buy and a consensus price target of $44.45.
SunTrust Banks (NYSE:STI) opened at 43.59 on Friday. The firm has a market cap of $21.85 billion, a price-to-earnings ratio of 11.80 and a beta of 1.31. SunTrust Banks has a 52 week low of $31.07 and a 52 week high of $45.24. The company has a 50-day moving average of $43.29 and a 200-day moving average of $41.35.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The business earned $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. SunTrust Banks had a net margin of 22.31% and a return on equity of 8.53%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.89 earnings per share. Equities research analysts forecast that SunTrust Banks will post $3.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 29th. This represents a $1.04 annualized dividend and a yield of 2.39%. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.24. SunTrust Banks’s payout ratio is currently 28.18%.
In other SunTrust Banks news, insider Susan S. Johnson sold 1,118 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $42.40, for a total transaction of $47,403.20. Following the completion of the sale, the insider now directly owns 1,119 shares in the company, valued at $47,445.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.67% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. raised its stake in shares of SunTrust Banks by 0.5% in the first quarter. Panagora Asset Management Inc. now owns 2,371,568 shares of the financial services provider’s stock valued at $85,566,000 after buying an additional 11,760 shares during the last quarter. Endeavour Capital Advisors Inc. raised its stake in shares of SunTrust Banks by 69.1% in the first quarter. Endeavour Capital Advisors Inc. now owns 912,310 shares of the financial services provider’s stock valued at $32,916,000 after buying an additional 372,871 shares during the last quarter. AMP Capital Investors Ltd raised its stake in shares of SunTrust Banks by 10.7% in the first quarter. AMP Capital Investors Ltd now owns 294,737 shares of the financial services provider’s stock valued at $10,755,000 after buying an additional 28,469 shares during the last quarter. Pegasus Partners Ltd. raised its stake in shares of SunTrust Banks by 14.9% in the second quarter. Pegasus Partners Ltd. now owns 18,270 shares of the financial services provider’s stock valued at $751,000 after buying an additional 2,365 shares during the last quarter. Finally, 1st Global Advisors Inc. bought a new stake in shares of SunTrust Banks during the second quarter valued at about $202,000. Institutional investors and hedge funds own 82.37% of the company’s stock.
About SunTrust Banks
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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