Stock Rating Runner: What To Expect After SunTrust Banks (NYSE:STI)’s Downgrade Rating From Compass Point?

November 23, 2016 - By Louis Casey

Stock Rating Runner: What To Expect After SunTrust Banks (NYSE:STI)'s Downgrade Rating From Compass Point?

SunTrust Banks (NYSE:STI) Downgrade

SunTrust Banks (NYSE:STI) was decreased by analysts at Compass Point from a Buy rating to a Neutral rating in analysts report shared with investors on 23 November.

SunTrust Banks, Inc. (NYSE:STI) Ratings Coverage

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 -14.18% below today’s ($52.03) stock price. Suntrust Banks Inc. has been the topic of 44 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Wedbush initiated the shares of STI in a report on Friday, October 7 with “Neutral” rating. On Thursday, September 3 the stock rating was downgraded by Zacks to “Hold”. On Thursday, August 27 the stock rating was upgraded by Evercore to “Hold”. The stock of SunTrust Banks, Inc. (NYSE:STI) earned “Overweight” rating by Piper Jaffray on Tuesday, November 24. Guggenheim initiated the shares of STI in a report on Thursday, October 8 with “Neutral” rating. The company was maintained on Tuesday, October 20 by Macquarie Research. The stock of SunTrust Banks, Inc. (NYSE:STI) earned “Buy” rating by Credit Agricole on Wednesday, September 9. The stock of SunTrust Banks, Inc. (NYSE:STI) has “Hold” rating given on Monday, October 19 by Jefferies. Susquehanna downgraded the shares of STI in a report on Tuesday, June 7 to “Neutral” rating. The stock has “Market Perform” rating given by Bernstein on Tuesday, August 16.

About 2.08 million 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.

Insitutional Activity: The institutional sentiment decreased to 0.87 in 2016 Q2. Its down 0.07, from 0.94 in 2016Q1. The ratio turned negative, 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.

Ameriprise, a Minnesota-based fund reported 1.14 million shares. Barnett Communication has 457 shares for 0.01% of their US portfolio. Amer Century Companies reported 8.27 million shares or 0.39% of all its holdings. Wunderlich Managemnt owns 9,954 shares or 0.35% of their US portfolio. Princeton Alpha L P holds 29,171 shares or 0.21% of its portfolio. Kbc Group Nv holds 87,524 shares or 0.05% of its portfolio. Stephens Ar last reported 83,008 shares in the company. Iowa Retail Bank, a Iowa-based fund reported 930 shares. Utd Capital Financial Advisers Limited Liability Corporation, a California-based fund reported 10,352 shares. Salient Lta has invested 0.02% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Moreover, Meeder Asset Mngmt has 0.22% invested in SunTrust Banks, Inc. (NYSE:STI) for 57,435 shares. Teacher Retirement Of Texas has 1.47M shares for 0.41% of their US portfolio. The Maryland-based Wagner Bowman has invested 0.11% in SunTrust Banks, Inc. (NYSE:STI). Ameritas Investment Inc last reported 0.03% of its portfolio in the stock. Ssi Inv Mgmt holds 0.03% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 8,358 shares.

Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 5 sales for $582,494 net activity. 794 SunTrust Banks, Inc. (NYSE:STI) shares with value of $36,187 were sold by Johnson Susan S. $42,916 worth of shares were sold by Panther Thomas E on Friday, November 4. Shares for $393,960 were sold by Gillani Aleem.

SunTrust Banks, Inc. is a bank holding firm and a financial holding company. The company has a market cap of $25.71 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 14.44 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)”

STI Company Profile

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.

Another recent and important SunTrust Banks, Inc. (NYSE:STI) news was published by Seekingalpha.com which published an article titled: “SunTrust Bank: A Potential Case Of Extreme Overvaluation” on November 20, 2016.

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