SunTrust Banks (STI) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

SunTrust Banks (NYSE:STI)‘s stock had its “buy” rating reiterated by analysts at Keefe, Bruyette & Woods in a note issued to investors on Friday. They presently have a $77.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 17.67% from the company’s previous close.

A number of other equities analysts have also recently issued reports on STI. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Friday, September 22nd. Nomura boosted their price objective on SunTrust Banks from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Instinet reaffirmed a “neutral” rating and set a $63.00 target price (up from $62.00) on shares of SunTrust Banks in a research report on Saturday, September 30th. Robert W. Baird reaffirmed a “hold” rating and set a $55.00 target price on shares of SunTrust Banks in a research report on Sunday, October 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $63.00 target price on shares of SunTrust Banks in a research report on Wednesday, October 4th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $65.75.

SunTrust Banks (NYSE:STI) opened at $65.44 on Friday. SunTrust Banks has a 1-year low of $51.96 and a 1-year high of $66.62. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $31,150.00, a price-to-earnings ratio of 16.78, a P/E/G ratio of 1.77 and a beta of 1.29.

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

In other news, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was 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 own 0.55% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in SunTrust Banks by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 32,947,441 shares of the financial services provider’s stock worth $1,868,780,000 after buying an additional 227,501 shares during the last quarter. FMR LLC grew its stake in SunTrust Banks by 4.3% during the 2nd quarter. FMR LLC now owns 29,614,981 shares of the financial services provider’s stock worth $1,679,761,000 after buying an additional 1,219,272 shares during the last quarter. Capital World Investors grew its stake in SunTrust Banks by 20.7% during the 2nd quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock worth $1,673,982,000 after buying an additional 5,056,000 shares during the last quarter. American Century Companies Inc. grew its stake in SunTrust Banks by 31.4% during the 3rd quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock worth $435,947,000 after buying an additional 1,742,756 shares during the last quarter. Finally, Boston Partners grew its stake in SunTrust Banks by 6.8% during the 3rd quarter. Boston Partners now owns 6,812,235 shares of the financial services provider’s stock worth $407,167,000 after buying an additional 433,042 shares during the last quarter. 80.69% 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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