SunTrust Banks, Inc. (STI) Given Average Rating of “Hold” by Brokerages

Shares of SunTrust Banks, Inc. (NYSE:STI) have received a consensus recommendation of “Hold” from the twenty-seven analysts that are presently covering the stock, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $68.13.

Several equities research analysts recently issued reports on STI shares. Credit Suisse Group upgraded SunTrust Banks from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $56.00 to $60.00 in a research note on Monday, October 9th. Barclays boosted their price target on SunTrust Banks from $68.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Morgan Stanley upgraded SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price target for the company in a research note on Monday. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Tuesday, December 26th. Finally, Raymond James Financial cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd.

Shares of SunTrust Banks (STI) opened at $66.35 on Tuesday. SunTrust Banks has a 1-year low of $51.96 and a 1-year high of $67.02. The stock has a market capitalization of $31,580.00, a P/E ratio of 17.01, a PEG ratio of 1.58 and a beta of 1.29. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.60 annualized dividend and a yield of 2.41%. SunTrust Banks’s dividend payout ratio is currently 41.03%.

In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction on 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 owned by insiders.

Several large investors have recently made changes to their positions in the company. Copper Rock Capital Partners LLC increased its holdings in shares of SunTrust Banks by 48.4% during the fourth quarter. Copper Rock Capital Partners LLC now owns 135,293 shares of the financial services provider’s stock worth $8,854,000 after buying an additional 44,110 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of SunTrust Banks during the fourth quarter worth $210,000. Abner Herrman & Brock LLC increased its holdings in shares of SunTrust Banks by 1.0% during the fourth quarter. Abner Herrman & Brock LLC now owns 166,804 shares of the financial services provider’s stock worth $10,774,000 after buying an additional 1,580 shares in the last quarter. Hellman Jordan Management Co. Inc. MA acquired a new position in shares of SunTrust Banks during the third quarter worth $499,000. Finally, AXA increased its holdings in shares of SunTrust Banks by 1.6% during the third quarter. AXA now owns 99,801 shares of the financial services provider’s stock worth $5,966,000 after buying an additional 1,601 shares in the last quarter. Institutional investors 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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