Sanford C. Bernstein upgraded shares of SunTrust Banks (NYSE:STI) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The analysts noted that the move was a valuation call.
Other research analysts have also recently issued reports about the company. Stephens cut SunTrust Banks from an overweight rating to an equal weight rating in a report on Monday, April 23rd. They noted that the move was a valuation call. Credit Suisse Group reissued a neutral rating and set a $73.00 price objective (up from $71.00) on shares of SunTrust Banks in a report on Wednesday, March 14th. ValuEngine cut SunTrust Banks from a buy rating to a hold rating in a report on Monday, April 2nd. Zacks Investment Research cut SunTrust Banks from a buy rating to a hold rating in a report on Monday, March 26th. Finally, BMO Capital Markets cut their price objective on SunTrust Banks from $79.00 to $77.00 and set a market perform rating for the company in a report on Friday, April 20th. Eighteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $70.50.
Shares of SunTrust Banks opened at $65.47 on Wednesday, MarketBeat Ratings reports. The firm has a market capitalization of $30.98 billion, a P/E ratio of 16.21, a PEG ratio of 0.98 and a beta of 1.31. SunTrust Banks has a one year low of $51.96 and a one year high of $73.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.91.
SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, April 20th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.11 by $0.18. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. SunTrust Banks’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. sell-side analysts predict that SunTrust Banks will post 5.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 31st were given a $0.40 dividend. The ex-dividend date was Wednesday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.44%. SunTrust Banks’s payout ratio is 39.60%.
In other news, EVP Jerome T. Lienhard sold 8,750 shares of the business’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $69.06, for a total transaction of $604,275.00. Following the completion of the transaction, the executive vice president now directly owns 41,374 shares in the company, valued at approximately $2,857,288.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank P. Scruggs, Jr. bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The shares were bought at an average price of $69.01 per share, with a total value of $69,010.00. Following the completion of the transaction, the director now directly owns 8,501 shares in the company, valued at approximately $586,654.01. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 21,250 shares of company stock valued at $1,464,300. Corporate insiders own 0.52% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Avalon Advisors LLC grew its position in shares of SunTrust Banks by 22.4% during the 1st quarter. Avalon Advisors LLC now owns 394,524 shares of the financial services provider’s stock worth $26,843,000 after buying an additional 72,131 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of SunTrust Banks during the 1st quarter worth about $268,000. Cynosure Advisors LLC grew its position in shares of SunTrust Banks by 294.0% during the 1st quarter. Cynosure Advisors LLC now owns 30,839 shares of the financial services provider’s stock worth $2,098,000 after buying an additional 23,011 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of SunTrust Banks during the 1st quarter worth about $393,000. Finally, Ibex Wealth Advisors acquired a new position in shares of SunTrust Banks during the 1st quarter worth about $2,889,000. Institutional investors own 83.62% of the company’s stock.
SunTrust Banks Company Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.
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