SunTrust Banks’ (STI) “Buy” Rating Reaffirmed at Vining Sparks

SunTrust Banks (NYSE:STI)‘s stock had its “buy” rating restated by stock analysts at Vining Sparks in a note issued to investors on Monday, January 8th. They presently have a $85.00 price target on the financial services provider’s stock. Vining Sparks’ price target suggests a potential upside of 22.34% from the stock’s previous close.

STI has been the topic of several other research reports. 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 upped their price objective on SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. Wedbush cut SunTrust Banks from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $71.00 to $63.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Keefe, Bruyette & Woods restated a “buy” rating and set a $77.00 price objective on shares of SunTrust Banks in a research note on Friday, December 29th. Finally, Robert W. Baird restated a “hold” rating and set a $55.00 price objective on shares of SunTrust Banks in a research note on Sunday, October 1st. Fifteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $69.02.

Shares of SunTrust Banks (STI) opened at $69.48 on Monday. SunTrust Banks has a 1 year low of $51.96 and a 1 year high of $72.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market capitalization of $32,720.29, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.30 and a beta of 1.37.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. equities research analysts forecast that SunTrust Banks will post 5.03 EPS for the current year.

In other SunTrust Banks news, EVP Jerome T. Lienhard sold 29,248 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total transaction of $508,037.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction 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. Insiders sold a total of 36,548 shares of company stock valued at $820,284 over the last three months. Corporate insiders own 0.55% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Fiduciary Trust Co. bought a new position in SunTrust Banks during the 2nd quarter valued at $118,000. Advisory Services Network LLC boosted its stake in SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 20 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in SunTrust Banks during the 2nd quarter valued at $136,000. Dupont Capital Management Corp boosted its stake in SunTrust Banks by 55.2% during the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 933 shares in the last quarter. Finally, Blue Granite Capital LLC bought a new position in SunTrust Banks during the 3rd quarter valued at $177,000. 80.71% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for SunTrust Banks (NYSE:STI)

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