SunTrust Banks (STI) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their buy rating on shares of SunTrust Banks (NYSE:STI) in a research report sent to investors on Thursday. They currently have a $75.00 price target on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on the company. ValuEngine lowered SunTrust Banks from a buy rating to a hold rating in a research report on Monday. Zacks Investment Research lowered SunTrust Banks from a buy rating to a hold rating in a research report on Monday, March 26th. Credit Suisse Group reissued a neutral rating and set a $73.00 price target (up from $71.00) on shares of SunTrust Banks in a research report on Wednesday, March 14th. Morgan Stanley upped their price target on SunTrust Banks from $78.00 to $80.00 and gave the company an overweight rating in a research report on Friday, February 2nd. Finally, Oppenheimer reissued a hold rating on shares of SunTrust Banks in a research report on Monday, January 22nd. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $69.52.

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Shares of SunTrust Banks stock traded down $2.77 on Thursday, reaching $65.77. 2,042,305 shares of the company were exchanged, compared to its average volume of 3,374,576. The firm has a market capitalization of $31,914.66, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.08 and a beta of 1.33. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $73.37.

SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. SunTrust Banks’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. analysts expect that SunTrust Banks will post 5.06 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.60 annualized dividend and a dividend yield of 2.43%. SunTrust Banks’s dividend payout ratio (DPR) is presently 39.60%.

In other news, EVP Jerome T. Lienhard sold 29,248 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total transaction of $508,037.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan S. Johnson sold 3,600 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $71.04, for a total value of $255,744.00. Following the sale, the insider now owns 8,857 shares of the company’s stock, valued at approximately $629,201.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,348 shares of company stock valued at $1,289,757. 0.52% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC boosted its stake in shares of SunTrust Banks by 107.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 843 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in shares of SunTrust Banks during the 4th quarter worth about $156,000. Avestar Capital LLC bought a new stake in shares of SunTrust Banks during the 4th quarter worth about $162,000. Quantitative Systematic Strategies LLC bought a new stake in shares of SunTrust Banks during the 4th quarter worth about $202,000. Finally, WealthTrust Axiom LLC bought a new stake in shares of SunTrust Banks during the 4th quarter worth about $202,000. Institutional investors own 83.59% 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.

Analyst Recommendations for SunTrust Banks (NYSE:STI)

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