SunTrust Banks (STI) Raised to “Outperform” at FIG Partners

SunTrust Banks (NYSE:STI) was upgraded by equities research analysts at FIG Partners from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, The Fly reports.

A number of other analysts also recently issued reports on STI. Sandler O’Neill raised SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Friday. Sanford C. Bernstein raised SunTrust Banks from a “market perform” rating to an “outperform” rating in a research note on Wednesday. They noted that the move was a valuation call. Susquehanna Bancshares set a $75.00 price objective on SunTrust Banks and gave the stock a “hold” rating in a research note on Tuesday, April 10th. Credit Suisse Group lifted their price objective on SunTrust Banks from $73.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, April 23rd. Finally, Stephens downgraded SunTrust Banks from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 23rd. They noted that the move was a valuation call. Seventeen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $70.50.

Shares of STI opened at $65.71 on Friday. The company has a market cap of $30.43 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.31. SunTrust Banks has a 12-month low of $51.96 and a 12-month high of $73.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.93.

SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, April 20th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.18. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The company’s revenue was up .4% compared to the same quarter last year. equities analysts expect that SunTrust Banks will post 5.29 EPS for the current year.

In other SunTrust Banks news, EVP Jerome T. Lienhard sold 8,750 shares of the company’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $69.06, for a total value of $604,275.00. Following the completion of the sale, the executive vice president now directly owns 41,374 shares in the company, valued at approximately $2,857,288.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Hugh S. Cummins III sold 11,000 shares of the company’s stock in a transaction on Monday, May 21st. The stock was sold at an average price of $69.00, for a total value of $759,000.00. Following the completion of the sale, the chief operating officer now owns 40,198 shares of the company’s stock, valued at $2,773,662. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,250 shares of company stock valued at $1,464,300. 0.52% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Private Capital Group LLC lifted its holdings in shares of SunTrust Banks by 2,085.5% in the 1st quarter. Private Capital Group LLC now owns 1,508 shares of the financial services provider’s stock worth $103,000 after buying an additional 1,439 shares during the period. First Personal Financial Services lifted its holdings in shares of SunTrust Banks by 114.3% in the 1st quarter. First Personal Financial Services now owns 1,963 shares of the financial services provider’s stock worth $133,000 after buying an additional 1,047 shares during the period. Icon Wealth Partners LLC purchased a new stake in shares of SunTrust Banks in the 4th quarter worth $156,000. Summit Trail Advisors LLC lifted its holdings in shares of SunTrust Banks by 6,663.1% in the 1st quarter. Summit Trail Advisors LLC now owns 159,204 shares of the financial services provider’s stock worth $159,000 after buying an additional 156,850 shares during the period. Finally, Avestar Capital LLC purchased a new stake in shares of SunTrust Banks in the 4th quarter worth $162,000. Institutional investors and hedge funds own 83.62% of the company’s stock.

About SunTrust Banks

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.

The Fly

Analyst Recommendations for SunTrust Banks (NYSE:STI)

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