SunTrust Banks’ (STI) Hold Rating Reaffirmed at Oppenheimer

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

Other analysts have also issued research reports about the company. BMO Capital Markets reaffirmed a “hold” rating and set a $79.00 price objective on shares of SunTrust Banks in a research note on Sunday. B. Riley reaffirmed a “hold” rating and set a $70.00 price objective on shares of SunTrust Banks in a research note on Monday. UBS Group lowered SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Sandler O’Neill lowered SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Monday, October 23rd. Finally, Raymond James Financial downgraded SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Monday, October 23rd. Fifteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.48.

SunTrust Banks (NYSE:STI) traded up $0.64 on Monday, hitting $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 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 capitalization of $32,970.00, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.36 and a beta of 1.29. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $69.56.

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

In other news, Vice Chairman Mark A. Chancy sold 4,000 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Also, Director Kyle P. Legg sold 3,300 shares of the firm’s stock in a transaction dated 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. Company insiders own 0.55% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in STI. Thrivent Financial For Lutherans raised its holdings in shares of SunTrust Banks by 1.7% in the 2nd 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 raised its holdings in shares of SunTrust Banks by 23.4% during the 2nd quarter. Quantbot Technologies LP now owns 13,266 shares of the financial services provider’s stock valued at $752,000 after buying an additional 2,516 shares during the period. Cibc World Markets Corp raised its holdings in shares of SunTrust Banks by 33.1% during the 2nd quarter. Cibc World Markets Corp now owns 68,314 shares of the financial services provider’s stock valued at $3,875,000 after buying an additional 16,976 shares during the period. Nordea Investment Management AB raised its holdings in shares of SunTrust Banks by 66.5% during the 2nd quarter. Nordea Investment Management AB now owns 354,640 shares of the financial services provider’s stock valued at $20,115,000 after buying an additional 141,600 shares during the period. Finally, Evercore Wealth Management LLC raised its holdings in shares of SunTrust Banks by 462.0% during the 2nd quarter. Evercore Wealth Management LLC now owns 9,216 shares of the financial services provider’s stock valued at $523,000 after buying an additional 7,576 shares during the period. Institutional investors own 80.65% of the company’s stock.

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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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