Credit Suisse Group Reiterates “Hold” Rating for SunTrust Banks (STI)

Credit Suisse Group reaffirmed their hold rating on shares of SunTrust Banks (NYSE:STI) in a report issued on Thursday, January 4th. Credit Suisse Group currently has a $68.00 price target on the financial services provider’s stock.

Several other research analysts have also issued reports on the stock. Sandler O’Neill lowered shares of SunTrust Banks from a buy rating to a hold rating and set a $62.00 price target for the company. in a research note on Monday, October 23rd. Keefe, Bruyette & Woods upgraded shares of SunTrust Banks from a market perform rating to an outperform rating in a research note on Tuesday, December 12th. Wedbush lowered shares of SunTrust Banks from an outperform rating to a neutral rating and reduced their price objective for the company from $71.00 to $63.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. UBS Group upgraded shares of SunTrust Banks from a neutral rating to a buy rating and raised their price objective for the company from $62.00 to $73.00 in a research note on Tuesday, December 12th. Finally, Nomura raised their price objective on shares of SunTrust Banks from $63.00 to $64.00 and gave the company a neutral rating in a research note on Thursday, October 26th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $67.88.

Shares of SunTrust Banks (STI) traded up $0.16 during trading on Thursday, hitting $67.86. 4,168,300 shares of the company traded hands, compared to its average volume of 4,201,688. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94. The company has a market cap of $32,600.00, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29. SunTrust Banks has a 52 week low of $51.96 and a 52 week high of $68.62.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.06. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. SunTrust Banks’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. equities analysts anticipate that SunTrust Banks will post 4.07 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Wednesday, November 29th. SunTrust Banks’s payout ratio is presently 41.03%.

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 shares were sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $72,006.00. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of STI. Fiduciary Trust Co. bought a new stake in SunTrust Banks during the 2nd quarter worth approximately $118,000. Advisory Services Network LLC raised its stake in SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 20 shares during the period. Westwood Holdings Group Inc. bought a new stake in SunTrust Banks during the 2nd quarter worth approximately $136,000. Tiedemann Wealth Management LLC raised its stake in SunTrust Banks by 12.1% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 2,920 shares during the period. Finally, Dupont Capital Management Corp raised its stake in SunTrust Banks by 55.2% during the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 933 shares during the period. 80.69% of the stock is currently owned by institutional investors.

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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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