SunTrust Banks (STI) Given Consensus Recommendation of “Hold” by Analysts

Shares of SunTrust Banks (NYSE:STI) have been assigned a consensus recommendation of “Hold” from the twenty-seven ratings firms that are currently covering the company, MarketBeat reports. Eighteen equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $70.40.

A number of research firms have weighed in on STI. ValuEngine upgraded SunTrust Banks from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Wednesday, March 21st. Piper Jaffray restated a “buy” rating and set a $75.00 price target on shares of SunTrust Banks in a research report on Sunday, April 22nd. Credit Suisse Group restated a “neutral” rating and set a $73.00 price target (up previously from $71.00) on shares of SunTrust Banks in a research report on Wednesday, March 14th. Finally, BMO Capital Markets lowered their price target on SunTrust Banks from $79.00 to $77.00 and set a “market perform” rating on the stock in a research report on Friday, April 20th.

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Shares of STI stock traded down $0.73 on Monday, reaching $68.65. The company’s stock had a trading volume of 1,796,271 shares, compared to its average volume of 2,542,920. 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 has a 12-month low of $51.96 and a 12-month high of $73.37. The company has a market capitalization of $32.25 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.02 and a beta of 1.33.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share for the quarter, beating 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 last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. sell-side analysts forecast that SunTrust Banks will post 5.28 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. SunTrust Banks’s dividend payout ratio (DPR) is currently 39.60%.

In related news, insider Susan S. Johnson sold 3,600 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $71.04, for a total value of $255,744.00. Following the sale, the insider now directly owns 8,857 shares of the company’s stock, valued at $629,201.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Agnes Bundy Scanlan sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $67.35, for a total value of $101,025.00. The disclosure for this sale can be found here. Insiders have sold 13,850 shares of company stock worth $961,044 over the last ninety days. Insiders own 0.52% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC grew its stake in shares of SunTrust Banks by 81.1% in the first quarter. Catalyst Capital Advisors LLC now owns 268,000 shares of the financial services provider’s stock worth $18,235,000 after purchasing an additional 120,000 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of SunTrust Banks by 4.9% in the first quarter. Xact Kapitalforvaltning AB now owns 98,455 shares of the financial services provider’s stock worth $6,699,000 after purchasing an additional 4,586 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of SunTrust Banks in the first quarter worth about $10,546,000. Private Capital Group LLC grew its stake in shares of SunTrust Banks by 2,085.5% in the first quarter. Private Capital Group LLC now owns 1,508 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,439 shares during the last quarter. Finally, Verition Fund Management LLC grew its stake in shares of SunTrust Banks by 68.8% in the first quarter. Verition Fund Management LLC now owns 11,281 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 4,598 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

SunTrust Banks Company Profile

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.

Analyst Recommendations for SunTrust Banks (NYSE:STI)