November 30, 2016 - By Marguerite Chambers
In a note shared with investors on Wednesday, 30 November, SunTrust Banks (NYSE:STI) stock had its “Neutral” Rating restate by stock research analysts at Wedbush. They currently have a $53 target price per share on firm. Wedbush’s target would indicate a potential upside of 3.64% from the company’s last price.
Out of 23 analysts covering Suntrust Banks Inc. (NYSE:STI), 9 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 39% are positive. $50 is the highest target while $40 is the lowest. The $44.65 average target is -12.69% below today’s ($51.14) stock price. Suntrust Banks Inc. has been the topic of 45 analyst reports since July 20, 2015 according to StockzIntelligence Inc. FBR Capital reinitiated the shares of STI in a report on Tuesday, October 11 with “Outperform” rating. The rating was initiated by Piper Jaffray on Tuesday, November 24 with “Overweight”. The stock of SunTrust Banks, Inc. (NYSE:STI) earned “Outperform” rating by RBC Capital Markets on Monday, January 25. The company was downgraded on Monday, November 14 by Morgan Stanley. The stock has “Neutral” rating given by Macquarie Research on Tuesday, October 20. The rating was downgraded by Standpoint Research to “Hold” on Tuesday, November 15. As per Monday, September 7, the company rating was upgraded by Zacks. The firm earned “Neutral” rating on Thursday, October 8 by Guggenheim. The stock of SunTrust Banks, Inc. (NYSE:STI) has “Neutral” rating given on Wednesday, November 23 by Compass Point. On Tuesday, August 16 the stock rating was downgraded by Bernstein to “Market Perform”.
The stock closed at $51.14 during the last session. It is down 20.13% since April 27, 2016 and is uptrending. It has outperformed by 14.90% the S&P500.
Analysts await SunTrust Banks, Inc. (NYSE:STI) to report earnings on January, 27. They expect $0.87 EPS, down 4.40% or $0.04 from last year’s $0.91 per share. STI’s profit will be $423.43 million for 14.70 P/E if the $0.87 EPS becomes a reality. After $0.91 actual EPS reported by SunTrust Banks, Inc. for the previous quarter, Wall Street now forecasts -4.40% negative EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.87 in 2016 Q2. Its down 0.07, from 0.94 in 2016Q1. The ratio fall, 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.
Mutual Of America Capital Mgmt Limited Liability Company last reported 0.08% of its portfolio in the stock. Wunderlich Managemnt has 9,954 shares for 0.35% of their US portfolio. Vanguard Group Inc owns 32.83 million shares or 0.08% of their US portfolio. Vigilant Mgmt Ltd Com has 0.03% invested in the company for 3,325 shares. Concert Wealth has invested 0.06% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Mai Mngmt holds 0.02% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 5,288 shares. Boston Advsrs Limited Liability holds 0.28% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 277,395 shares. Principal Finance reported 4.06 million shares or 0.23% of all its holdings. Wellington Management Gru Llp holds 0% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 59,359 shares. Mizuho Tru Bk has invested 0.1% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Equity Inv Ga owns 2.09M shares or 2.67% of their US portfolio. Suntrust Banks has 2.16 million shares for 0.54% of their US portfolio. Goldman Sachs Grp Inc Incorporated last reported 5.21 million shares in the company. Meeder Asset Mgmt has 0.22% invested in the company for 57,435 shares. Manufacturers Life Ins The holds 0.14% or 2.26M shares in its portfolio.
Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 6 insider sales for $999,654 net activity. Panther Thomas E also sold $62,028 worth of SunTrust Banks, Inc. (NYSE:STI) shares. Gillani Aleem sold 8,583 shares worth $393,960. 8,000 shares were sold by Cheriyan Anil T, worth $417,160. Johnson Susan S sold $47,403 worth of stock or 1,118 shares.
SunTrust Banks, Inc. is a bank holding firm and a financial holding company. The company has a market cap of $24.89 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 14.19 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)”
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.
More news for SunTrust Banks, Inc. (NYSE:STI) were recently published by: Bizjournals.com, which released: “SunTrust advisor: The time for an end-of-year financial review is now” on November 29, 2016. Prnewswire.com‘s article titled: “SunTrust Bank Expands Partnership with Operation HOPE” and published on November 01, 2016 is yet another important article.
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