SunTrust Banks (STI) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of SunTrust Banks (NYSE:STI) from a hold rating to a sell rating in a report published on Monday, ValuEngine reports.

Other equities analysts have also recently issued reports about the stock. Macquarie raised shares of SunTrust Banks from an underperform rating to a neutral rating and set a $64.72 price objective on the stock in a research note on Friday, February 8th. Morgan Stanley reissued an equal weight rating and issued a $73.00 price objective (down from $80.00) on shares of SunTrust Banks in a research note on Monday, March 11th. Zacks Investment Research cut shares of SunTrust Banks from a buy rating to a hold rating in a research note on Monday, January 7th. BMO Capital Markets boosted their price objective on shares of SunTrust Banks from $61.00 to $73.00 and gave the company a market perform rating in a research note on Monday, February 11th. Finally, Robert W. Baird cut shares of SunTrust Banks from an outperform rating to a neutral rating and set a $61.90 price objective on the stock. in a research note on Monday, January 28th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $71.20.

STI stock opened at $61.24 on Monday. SunTrust Banks has a 12 month low of $46.05 and a 12 month high of $75.08. The firm has a market capitalization of $26.26 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 1.22 and a beta of 1.54. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.68.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, January 18th. The financial services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.40 by $0.10. SunTrust Banks had a net margin of 26.61% and a return on equity of 12.40%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. SunTrust Banks’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that SunTrust Banks will post 5.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were issued a $0.50 dividend. The ex-dividend date was Wednesday, February 27th. This represents a $2.00 dividend on an annualized basis and a yield of 3.27%. SunTrust Banks’s dividend payout ratio (DPR) is 35.09%.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total value of $653,800.00. Following the transaction, the insider now directly owns 205,846 shares in the company, valued at approximately $13,458,211.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jorge Arrieta sold 4,000 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $66.25, for a total transaction of $265,000.00. Following the completion of the transaction, the executive vice president now owns 8,662 shares in the company, valued at $573,857.50. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Deutsche Bank AG lifted its holdings in shares of SunTrust Banks by 171.1% during the 4th quarter. Deutsche Bank AG now owns 2,094,544 shares of the financial services provider’s stock worth $105,645,000 after acquiring an additional 1,321,862 shares during the period. Liberty Wealth Management LLC purchased a new position in shares of SunTrust Banks during the 4th quarter worth about $26,000. Belpointe Asset Management LLC purchased a new position in shares of SunTrust Banks during the 4th quarter worth about $341,000. Norges Bank purchased a new position in shares of SunTrust Banks during the 4th quarter worth about $204,713,000. Finally, Actinver Wealth Management Inc. purchased a new position in shares of SunTrust Banks during the 4th quarter worth about $245,000. Institutional investors and hedge funds own 81.15% of the company’s stock.

SunTrust Banks Company Profile

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in 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.

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Analyst Recommendations for SunTrust Banks (NYSE:STI)

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