SunTrust Banks (NYSE:STI) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, January 8th, Marketbeat Ratings reports. The firm presently has a $68.00 target price on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 4.23% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Nomura boosted their price target on SunTrust Banks from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Barclays lifted their target price on SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. Wedbush downgraded SunTrust Banks from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $71.00 to $63.00 in a report on Thursday, December 21st. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $77.00 price target on shares of SunTrust Banks in a report on Friday, December 29th. Finally, Robert W. Baird restated a “hold” rating and issued a $55.00 price objective on shares of SunTrust Banks in a research report on Sunday, October 1st. Fifteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $68.48.
Shares of SunTrust Banks (NYSE:STI) opened at $71.00 on Monday. SunTrust Banks has a 52-week low of $51.96 and a 52-week high of $72.06. The stock has a market capitalization of $33,205.35, a price-to-earnings ratio of 15.78, a P/E/G ratio of 1.33 and a beta of 1.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.92.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. analysts anticipate that SunTrust Banks will post 4.98 EPS for the current year.
In related news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of SunTrust Banks stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The disclosure for this sale can be found here. Insiders sold a total of 36,548 shares of company stock valued at $820,284 over the last three months. Insiders own 0.55% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Mountain Pacific Investment Advisers Inc. ID grew its position in SunTrust Banks by 242.7% during the third quarter. Mountain Pacific Investment Advisers Inc. ID now owns 23,017 shares of the financial services provider’s stock valued at $1,376,000 after acquiring an additional 16,300 shares during the period. Whittier Trust Co. lifted its stake in shares of SunTrust Banks by 119.9% in the third quarter. Whittier Trust Co. now owns 4,197 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 2,288 shares in the last quarter. Highstreet Asset Management Inc. bought a new stake in SunTrust Banks in the third quarter valued at about $778,000. Commerce Bank increased its holdings in SunTrust Banks by 293.8% in the third quarter. Commerce Bank now owns 17,967 shares of the financial services provider’s stock valued at $1,074,000 after buying an additional 13,405 shares during the last quarter. Finally, Bank of Stockton grew its holdings in shares of SunTrust Banks by 17.8% during the third quarter. Bank of Stockton now owns 12,190 shares of the financial services provider’s stock valued at $728,000 after purchasing an additional 1,840 shares during the last quarter. 80.71% of the stock is owned by institutional investors.
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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.
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