SunTrust Banks (STI) Earns “Hold” Rating from B. Riley

SunTrust Banks (NYSE:STI)‘s stock had its “hold” rating reaffirmed by B. Riley in a note issued to investors on Monday. They currently have a $70.00 price target on the financial services provider’s stock. B. Riley’s target price would indicate a potential upside of 2.07% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $63.00 target price on shares of SunTrust Banks in a report on Wednesday, October 4th. Jefferies Group reaffirmed a “buy” rating and issued a $69.00 target price on shares of SunTrust Banks in a report on Thursday, October 12th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $65.00 target price on shares of SunTrust Banks in a report on Monday, October 23rd. Finally, UBS Group raised SunTrust Banks from a “neutral” rating to a “buy” rating and upped their target price for the stock from $62.00 to $73.00 in a report on Tuesday, December 12th. Fifteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $68.48.

Shares of SunTrust Banks (NYSE STI) traded up $0.64 on Monday, reaching $68.58. The company’s stock had a trading volume of 5,101,700 shares, compared to its average volume of 4,156,008. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $69.56. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The firm has a market cap of $32,970.00, a PE ratio of 17.58, a PEG ratio of 1.36 and a beta of 1.29.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. equities analysts forecast that SunTrust Banks will post 4.74 earnings per share for the current fiscal year.

In related news, Vice Chairman Mark A. Chancy sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kyle P. Legg sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total value of $72,006.00. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STI. Thrivent Financial For Lutherans grew its stake in SunTrust Banks by 1.7% during the second quarter. Thrivent Financial For Lutherans now owns 18,320 shares of the financial services provider’s stock worth $1,039,000 after purchasing an additional 310 shares during the period. Quantbot Technologies LP boosted its holdings in SunTrust Banks by 23.4% in the second quarter. Quantbot Technologies LP now owns 13,266 shares of the financial services provider’s stock worth $752,000 after acquiring an additional 2,516 shares in the last quarter. Cibc World Markets Corp boosted its holdings in SunTrust Banks by 33.1% in the second quarter. Cibc World Markets Corp now owns 68,314 shares of the financial services provider’s stock worth $3,875,000 after acquiring an additional 16,976 shares in the last quarter. Nordea Investment Management AB boosted its holdings in SunTrust Banks by 66.5% in the second quarter. Nordea Investment Management AB now owns 354,640 shares of the financial services provider’s stock worth $20,115,000 after acquiring an additional 141,600 shares in the last quarter. Finally, Evercore Wealth Management LLC boosted its holdings in SunTrust Banks by 462.0% in the second quarter. Evercore Wealth Management LLC now owns 9,216 shares of the financial services provider’s stock worth $523,000 after acquiring an additional 7,576 shares in the last quarter. 80.65% of the stock is owned by institutional investors and hedge funds.

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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)

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