SunTrust Banks, Inc. (NYSE:STI) has been given a consensus recommendation of “Hold” by the twenty-four research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $77.07.
STI has been the topic of several research reports. Edward Jones initiated coverage on shares of SunTrust Banks in a research report on Tuesday, August 28th. They issued a “hold” rating on the stock. Wedbush set a $75.00 price target on shares of SunTrust Banks and gave the company a “hold” rating in a research report on Thursday, September 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price target on shares of SunTrust Banks in a research report on Tuesday, July 24th. Barclays increased their price target on shares of SunTrust Banks from $77.00 to $79.00 and gave the company a “$72.58” rating in a research report on Monday, July 23rd. Finally, B. Riley set a $79.00 price target on shares of SunTrust Banks and gave the company a “buy” rating in a research report on Monday, October 15th.
Shares of STI stock traded up $0.19 during trading hours on Monday, hitting $63.53. The company’s stock had a trading volume of 3,352,611 shares, compared to its average volume of 4,686,830. The firm has a market capitalization of $28.23 billion, a PE ratio of 15.73, a P/E/G ratio of 1.04 and a beta of 1.27. SunTrust Banks has a twelve month low of $56.30 and a twelve month high of $75.08. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.93.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.39 by $0.17. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. As a group, sell-side analysts anticipate that SunTrust Banks will post 5.59 earnings per share for the current year.
In related news, EVP Jorge Arrieta sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $73.13, for a total transaction of $182,825.00. Following the transaction, the executive vice president now owns 6,148 shares of the company’s stock, valued at $449,603.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in STI. Principal Financial Group Inc. lifted its stake in shares of SunTrust Banks by 50.0% during the first quarter. Principal Financial Group Inc. now owns 1,414,818 shares of the financial services provider’s stock valued at $96,264,000 after buying an additional 471,824 shares during the period. IFM Investors Pty Ltd raised its stake in SunTrust Banks by 41.7% during the second quarter. IFM Investors Pty Ltd now owns 20,814 shares of the financial services provider’s stock worth $1,374,000 after purchasing an additional 6,128 shares during the period. CENTRAL TRUST Co raised its stake in SunTrust Banks by 3.9% during the second quarter. CENTRAL TRUST Co now owns 68,140 shares of the financial services provider’s stock worth $4,498,000 after purchasing an additional 2,530 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in SunTrust Banks by 6.2% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 25,871 shares of the financial services provider’s stock worth $1,708,000 after purchasing an additional 1,500 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in SunTrust Banks by 5.7% during the second quarter. State of Alaska Department of Revenue now owns 75,426 shares of the financial services provider’s stock worth $4,978,000 after purchasing an additional 4,080 shares during the period. 84.07% of the stock is currently owned by institutional investors and hedge funds.
SunTrust Banks Company Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.
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