FBR & Co reaffirmed their outperform rating on shares of SunTrust Banks Inc. (NYSE:STI) in a report published on Tuesday. They currently have a $49.00 price objective on the financial services provider’s stock.
Several other research analysts have also commented on STI. Nomura restated a hold rating on shares of SunTrust Banks in a report on Saturday, July 9th. Zacks Investment Research upgraded shares of SunTrust Banks from a hold rating to a buy rating and set a $49.00 price objective for the company in a report on Wednesday, September 21st. Deutsche Bank AG restated a buy rating on shares of SunTrust Banks in a report on Wednesday, June 15th. Compass Point upped their price objective on shares of SunTrust Banks from $45.00 to $48.00 and gave the stock a buy rating in a report on Tuesday, July 26th. Finally, Credit Agricole SA upped their price objective on shares of SunTrust Banks from $52.00 to $54.00 and gave the stock a buy rating in a report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $44.91.
SunTrust Banks (NYSE:STI) opened at 45.03 on Tuesday. The company’s 50-day moving average is $44.17 and its 200 day moving average is $41.98. The stock has a market capitalization of $22.58 billion, a PE ratio of 12.19 and a beta of 1.31. SunTrust Banks has a 12-month low of $31.07 and a 12-month high of $46.47.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. SunTrust Banks had a net margin of 22.31% and a return on equity of 8.53%. The business earned $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the business earned $0.89 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts expect that SunTrust Banks will post $3.51 earnings per share for the current fiscal year.
In other 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 sale, the insider now owns 1,119 shares in the company, valued at $47,445.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.67% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. AXA bought a new stake in SunTrust Banks during the second quarter valued at about $127,000. Amica Retiree Medical Trust bought a new stake in SunTrust Banks during the second quarter valued at about $129,000. MSI Financial Services Inc boosted its stake in SunTrust Banks by 66.2% in the third quarter. MSI Financial Services Inc now owns 3,010 shares of the financial services provider’s stock valued at $132,000 after buying an additional 1,199 shares during the last quarter. Euclid Advisors LLC bought a new stake in SunTrust Banks during the second quarter valued at about $140,000. Finally, Washington Trust Bank boosted its stake in SunTrust Banks by 2.1% in the second quarter. Washington Trust Bank now owns 4,420 shares of the financial services provider’s stock valued at $182,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 82.36% 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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