Barclays Increases SunTrust Banks (STI) Price Target to $77.00

SunTrust Banks (NYSE:STI) had its price target lifted by Barclays from $68.00 to $77.00 in a research report released on Tuesday, January 2nd, Marketbeat Ratings reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on STI. Zacks Investment Research upgraded SunTrust Banks from a hold rating to a buy rating and set a $68.00 price objective on the stock in a research report on Tuesday, October 10th. Piper Jaffray Companies reissued a buy rating and set a $63.00 target price on shares of SunTrust Banks in a research note on Wednesday, October 4th. Jefferies Group reaffirmed a buy rating and set a $69.00 price objective on shares of SunTrust Banks in a research report on Thursday, October 12th. Royal Bank of Canada reissued a buy rating and issued a $65.00 target price on shares of SunTrust Banks in a report on Monday, October 23rd. Finally, UBS Group raised SunTrust Banks from a neutral rating to a buy rating and upped their price objective for the company from $62.00 to $73.00 in a research note on Tuesday, December 12th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $67.88.

Shares of SunTrust Banks (NYSE:STI) traded up $0.75 during midday trading on Tuesday, hitting $67.70. The company had a trading volume of 3,274,500 shares, compared to its average volume of 4,206,457. SunTrust Banks has a 1 year low of $51.96 and a 1 year high of $68.62. The stock has a market cap of $32,230.00, a PE ratio of 17.36, a P/E/G ratio of 1.58 and a beta of 1.29. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.50.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. analysts predict that SunTrust Banks will post 4.07 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were paid a $0.40 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.36%. SunTrust Banks’s dividend payout ratio (DPR) is 41.03%.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of SunTrust Banks 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in STI. Pacer Advisors Inc. increased its holdings in shares of SunTrust Banks by 8.4% in the second quarter. Pacer Advisors Inc. now owns 10,114 shares of the financial services provider’s stock valued at $574,000 after buying an additional 780 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of SunTrust Banks by 32.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,578 shares of the financial services provider’s stock valued at $1,054,000 after buying an additional 4,541 shares in the last quarter. Commerce Bank increased its holdings in shares of SunTrust Banks by 11.6% in the second quarter. Commerce Bank now owns 4,562 shares of the financial services provider’s stock valued at $259,000 after buying an additional 474 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its holdings in shares of SunTrust Banks by 46.7% in the second quarter. Meiji Yasuda Life Insurance Co now owns 8,800 shares of the financial services provider’s stock valued at $499,000 after buying an additional 2,800 shares in the last quarter. Finally, Calamos Advisors LLC increased its holdings in shares of SunTrust Banks by 2.8% in the second quarter. Calamos Advisors LLC now owns 61,755 shares of the financial services provider’s stock valued at $3,503,000 after buying an additional 1,673 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This story was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://www.dispatchtribunal.com/2018/01/11/suntrust-banks-sti-pt-raised-to-77-00.html.

About SunTrust Banks

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)

Receive News & Ratings for SunTrust Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply