November 23, 2016 - By Louis Casey
The insider, and Suntrust Banks Inc’s Corp Ex Vice Pres & CIO, Anil Cheriyan, sold 8,000 company shares on November 23, 2016, worth roughly $417,160 (at $52.1 per share). Right now, Anil Cheriyan owns 81,327 shares which are equivalent to about 0.02% of the company’s total market capitalization.
Out of 22 analysts covering Suntrust Banks Inc. (NYSE:STI), 9 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 41% are positive. $50 is the highest target while $40 is the lowest. The $44.65 average target is -13.64% below today’s ($51.7) stock price. Suntrust Banks Inc. has been the topic of 44 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Bernstein downgraded the stock to “Market Perform” rating in Tuesday, August 16 report. Wells Fargo downgraded the shares of STI in a report on Friday, November 18 to “Market Perform” rating. The firm has “” rating by Robert W. Baird given on Friday, July 15. The rating was upgraded by Robert W. Baird to “Underperform” on Tuesday, August 25. The stock of SunTrust Banks, Inc. (NYSE:STI) has “Buy” rating given on Monday, September 7 by Zacks. The firm has “Neutral” rating by Wedbush given on Friday, October 7. As per Monday, November 14, the company rating was downgraded by Morgan Stanley. Piper Jaffray initiated the stock with “Overweight” rating in Tuesday, November 24 report. Deutsche Bank maintained it with “Buy” rating and $50 target price in Wednesday, August 12 report. As per Monday, January 25, the company rating was maintained by RBC Capital Markets.
Insitutional Activity: The institutional sentiment decreased to 0.87 in 2016 Q2. Its down 0.07, from 0.94 in 2016Q1. The ratio dived, as 51 funds sold all SunTrust Banks, Inc. shares owned while 230 reduced positions. 74 funds bought stakes while 189 increased positions. They now own 402.06 million shares or 1.73% less from 409.14 million shares in 2016Q1.
Eaton Vance holds 529,096 shares or 0.06% of its portfolio. Moreover, Gemmer Asset Mgmt Limited Liability Corporation has 0.01% invested in SunTrust Banks, Inc. (NYSE:STI) for 241 shares. Pathstone Family Office Ltd Limited Liability Company accumulated 303 shares or 0.01% of the stock. Public Sector Pension Investment Board last reported 0.04% of its portfolio in the stock. Union Comml Bank holds 0.1% or 6,091 shares in its portfolio. Amalgamated Bankshares accumulated 23,548 shares or 0.06% of the stock. Dekabank Deutsche Girozentrale, a Germany-based fund reported 35,206 shares. Bp Public Ltd Co, a United Kingdom-based fund reported 65,000 shares. Raymond James Financial Services Inc holds 0.02% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 57,997 shares. Heritage Investors Mgmt holds 0.03% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 9,568 shares. Glg Limited Co owns 31,205 shares or 0.1% of their US portfolio. Heritage Wealth has invested 0.65% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Todd Asset Limited Liability Company reported 404,763 shares or 0.53% of all its holdings. Rhumbline Advisers has 0.1% invested in the company for 803,158 shares. Shinko Asset Management Limited reported 1,292 shares or 0% of all its holdings.
Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 5 sales for $582,494 net activity. Johnson Susan S had sold 1,118 shares worth $47,403 on Tuesday, July 26. Another trade for 959 shares valued at $42,916 was made by Panther Thomas E on Friday, November 4. 8,583 shares were sold by Gillani Aleem, worth $393,960 on Thursday, October 27.
About 505 shares traded hands. SunTrust Banks, Inc. (NYSE:STI) has risen 30.62% since April 21, 2016 and is uptrending. It has outperformed by 25.30% the S&P500.
SunTrust Banks, Inc. is a bank holding firm and a financial holding company. The company has a market cap of $25.74 billion. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for clients and businesses, including deposit, credit, mortgage banking, and trust and investment services. It has a 14.46 P/E ratio. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
According to Zacks Investment Research, “SunTrust Banks, Inc. is a commercial banking organization. The company provides a wide range of services to meet the financial needs of its growing customer base in Alabama, Florida, Georgia, Maryland, Tennessee, Virginia, and the District of Columbia. Its primary businesses include traditional deposit and credit services as well as trust and investment services. (Company Press Release)”
Analysts await SunTrust Banks, Inc. (NYSE:STI) to report earnings on January, 27. They expect $0.87 earnings per share, down 4.40% or $0.04 from last year’s $0.91 per share. STI’s profit will be $433.15M for 14.86 P/E if the $0.87 EPS becomes a reality. After $0.91 actual earnings per share reported by SunTrust Banks, Inc. for the previous quarter, Wall Street now forecasts -4.40% negative EPS growth.
More news for SunTrust Banks, Inc. (NYSE:STI) were recently published by: Prnewswire.com, which released: “SunTrust Awarded $80 million in Tax Credit Authority to Finance Community ..” on November 18, 2016. Seekingalpha.com‘s article titled: “SunTrust Bank: A Potential Case Of Extreme Overvaluation” and published on November 20, 2016 is yet another important article.
SunTrust Banks, Inc., incorporated on July 24, 1984, is a bank holding firm and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for clients and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage and capital market services. The Firm operates through three divisions: Consumer Banking and Private Wealth Management, Wholesale Banking and Mortgage Banking. It also operates a Corporate Other segment, which includes the management of the Company’s investment securities portfolio, long-term debt, end-user derivative instruments, short-term liquidity and funding activities, balance sheet risk management, and real estate assets. The Firm operates primarily within Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia.
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By Louis Casey