Vining Sparks Reaffirms “Buy” Rating for SunTrust Banks (STI)

Vining Sparks reiterated their buy rating on shares of SunTrust Banks (NYSE:STI) in a research report released on Monday morning. The brokerage currently has a $85.00 target price on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on STI. Nomura boosted their price target on shares of SunTrust Banks from $62.00 to $63.00 and gave the company a neutral rating in a research report on Thursday, September 28th. Robert W. Baird reiterated a hold rating and set a $55.00 price target on shares of SunTrust Banks in a research report on Sunday, October 1st. Keefe, Bruyette & Woods reiterated a buy rating and set a $77.00 price target on shares of SunTrust Banks in a research report on Friday, December 29th. Goldman Sachs Group reiterated a buy rating and set a $74.00 price target on shares of SunTrust Banks in a research report on Thursday, January 4th. Finally, Zacks Investment Research upgraded shares of SunTrust Banks from a hold rating to a buy rating and set a $72.00 price target on the stock in a research report on Friday, January 5th. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. SunTrust Banks currently has a consensus rating of Hold and an average price target of $67.88.

Shares of SunTrust Banks (NYSE STI) traded up $1.03 during midday trading on Monday, hitting $68.89. 4,509,411 shares of the company traded hands, compared to its average volume of 4,235,878. SunTrust Banks has a one year low of $51.96 and a one year high of $68.95. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market capitalization of $32,790.00, a PE ratio of 17.66, a P/E/G ratio of 1.58 and a beta of 1.29.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. SunTrust Banks’s quarterly revenue was up 3.7% on a year-over-year basis. equities analysts anticipate that SunTrust Banks will post 4.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Wednesday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is presently 41.03%.

In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC lifted its stake in shares of SunTrust Banks by 0.9% in the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after buying an additional 20 shares in the last quarter. Balentine LLC lifted its stake in shares of SunTrust Banks by 2.9% in the second quarter. Balentine LLC now owns 3,148 shares of the financial services provider’s stock worth $179,000 after buying an additional 90 shares in the last quarter. Krilogy Financial LLC lifted its stake in shares of SunTrust Banks by 1.8% in the second quarter. Krilogy Financial LLC now owns 5,153 shares of the financial services provider’s stock worth $292,000 after buying an additional 90 shares in the last quarter. South State Corp lifted its stake in shares of SunTrust Banks by 1.3% in the second quarter. South State Corp now owns 11,920 shares of the financial services provider’s stock worth $676,000 after buying an additional 150 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in shares of SunTrust Banks by 1.7% in the second quarter. Thrivent Financial For Lutherans now owns 18,320 shares of the financial services provider’s stock worth $1,039,000 after buying an additional 310 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

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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)

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