SunTrust Banks’ (STI) Hold Rating Reaffirmed at Oppenheimer

SunTrust Banks (NYSE:STI)‘s stock had its “hold” rating reissued by equities researchers at Oppenheimer in a research note issued on Monday.

A number of other brokerages have also recently weighed in on STI. BMO Capital Markets reiterated a “hold” rating and issued a $79.00 price objective on shares of SunTrust Banks in a research note on Sunday. B. Riley reiterated a “hold” rating and issued a $70.00 price objective on shares of SunTrust Banks in a research note on Monday. Vining Sparks reiterated a “buy” rating and issued a $85.00 price objective on shares of SunTrust Banks in a research note on Monday, January 8th. Morgan Stanley upgraded SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price objective for the company in a research note on Monday, January 8th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $68.00 price objective on shares of SunTrust Banks in a research note on Thursday, January 4th. Fifteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.48.

Shares of SunTrust Banks (NYSE:STI) traded up $0.64 on Monday, reaching $68.58. The company had a trading volume of 5,101,700 shares, compared to its average volume of 4,156,008. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $32,970.00, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. SunTrust Banks has a 52-week low of $51.96 and a 52-week high of $69.56.

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

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction 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. 0.55% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in STI. Capital World Investors raised its position in SunTrust Banks by 20.7% in the second quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock worth $1,673,982,000 after acquiring an additional 5,056,000 shares in the last quarter. Janus Henderson Group PLC raised its position in SunTrust Banks by 3,033.8% in the second quarter. Janus Henderson Group PLC now owns 2,006,553 shares of the financial services provider’s stock worth $113,812,000 after acquiring an additional 1,942,524 shares in the last quarter. American Century Companies Inc. raised its position in SunTrust Banks by 31.4% in the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock worth $435,947,000 after acquiring an additional 1,742,756 shares in the last quarter. Bank of New York Mellon Corp raised its position in SunTrust Banks by 7.3% in the third quarter. Bank of New York Mellon Corp now owns 6,448,472 shares of the financial services provider’s stock worth $385,427,000 after acquiring an additional 437,387 shares in the last quarter. Finally, Boston Partners raised its position in SunTrust Banks by 6.8% in the third quarter. Boston Partners now owns 6,812,235 shares of the financial services provider’s stock worth $407,167,000 after acquiring an additional 433,042 shares in the last quarter. Hedge funds and other institutional investors own 80.65% of the company’s stock.

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About SunTrust Banks

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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