SunTrust Banks (STI) Upgraded by Morgan Stanley to Overweight

Morgan Stanley upgraded shares of SunTrust Banks (NYSE:STI) from an equal weight rating to an overweight rating in a research note released on Monday morning, MarketBeat Ratings reports. They currently have $68.00 price objective on the financial services provider’s stock.

A number of other brokerages also recently commented on STI. Credit Suisse Group upgraded shares of SunTrust Banks from an underperform rating to a neutral rating and lifted their price target for the stock from $56.00 to $60.00 in a report on Monday, October 9th. Barclays lifted their price target on shares of SunTrust Banks from $68.00 to $77.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of SunTrust Banks from a hold rating to a buy rating and set a $74.00 price target for the company in a report on Tuesday, December 26th. Raymond James Financial downgraded shares of SunTrust Banks from an outperform rating to a market perform rating in a report on Monday, October 23rd. Finally, Wedbush downgraded shares of SunTrust Banks from an outperform rating to a neutral rating and lowered their price target for the stock from $71.00 to $63.00 in a report on Thursday, December 21st. They noted that the move was a valuation call. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $67.88.

Shares of SunTrust Banks (NYSE STI) opened at $67.86 on Monday. The company has a market cap of $32,300.00, a PE ratio of 17.40, a PEG ratio of 1.58 and a beta of 1.29. SunTrust Banks has a twelve month low of $51.96 and a twelve month high of $68.62. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.

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

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a $0.40 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.36%. SunTrust Banks’s payout ratio is 41.03%.

In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of SunTrust Banks stock in a transaction that occurred on Wednesday, November 29th. The shares were 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 currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fiduciary Trust Co. acquired a new position in shares of SunTrust Banks during the second quarter worth $118,000. Advisory Services Network LLC lifted its position in shares of SunTrust Banks by 0.9% during the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 20 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of SunTrust Banks during the second quarter worth $136,000. Tiedemann Wealth Management LLC lifted its position in shares of SunTrust Banks by 12.1% during the third quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 2,920 shares in the last quarter. Finally, Dupont Capital Management Corp lifted its position in shares of SunTrust Banks by 55.2% during the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 933 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

WARNING: “SunTrust Banks (STI) Upgraded by Morgan Stanley to Overweight” was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://www.com-unik.info/2018/01/12/suntrust-banks-sti-upgraded-by-morgan-stanley-to-overweight.html.

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)

What are top analysts saying about SunTrust Banks? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for SunTrust Banks and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit