Stock analysts at Wedbush initiated coverage on shares of SunTrust Banks Inc. (NYSE:STI) in a note issued to investors on Thursday. The brokerage set a “neutral” rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on STI. Credit Suisse Group AG reiterated a “sell” rating on shares of SunTrust Banks in a research note on Tuesday, July 12th. Compass Point upped their target price on SunTrust Banks from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, July 26th. Zacks Investment Research cut SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Deutsche Bank AG restated a “buy” rating on shares of SunTrust Banks in a research note on Wednesday, June 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 target price on shares of SunTrust Banks in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. SunTrust Banks currently has an average rating of “Buy” and an average price target of $44.45.

Shares of SunTrust Banks (NYSE:STI) traded up 0.13% during midday trading on Thursday, hitting $45.79. The company had a trading volume of 3,875,054 shares. The stock has a market capitalization of $22.96 billion, a price-to-earnings ratio of 12.40 and a beta of 1.31. SunTrust Banks has a one year low of $31.07 and a one year high of $46.21. The stock’s 50-day moving average price is $43.61 and its 200-day moving average price is $41.62.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. The business earned $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. Analysts predict that SunTrust Banks will post $3.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.26 dividend. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, August 29th. This represents a $1.04 annualized dividend and a yield of 2.27%. SunTrust Banks’s dividend payout ratio (DPR) is presently 28.18%.

In related news, insider Susan S. Johnson sold 1,118 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $42.40, for a total value of $47,403.20. Following the transaction, the insider now owns 1,119 shares of the company’s stock, valued at approximately $47,445.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC boosted its position in shares of SunTrust Banks by 10.6% in the first quarter. TIAA CREF Investment Management LLC now owns 1,775,263 shares of the financial services provider’s stock valued at $64,051,000 after buying an additional 170,790 shares during the last quarter. BlackRock Group LTD boosted its position in shares of SunTrust Banks by 3.5% in the first quarter. BlackRock Group LTD now owns 4,909,411 shares of the financial services provider’s stock valued at $177,132,000 after buying an additional 163,982 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of SunTrust Banks by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 13,808,075 shares of the financial services provider’s stock valued at $498,195,000 after buying an additional 329,018 shares during the last quarter. BlackRock Japan Co. Ltd boosted its position in shares of SunTrust Banks by 1.3% in the first quarter. BlackRock Japan Co. Ltd now owns 663,162 shares of the financial services provider’s stock valued at $23,927,000 after buying an additional 8,561 shares during the last quarter. Finally, Sentry Investment Management LLC boosted its position in shares of SunTrust Banks by 5.0% in the first quarter. Sentry Investment Management LLC now owns 39,730 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 1,893 shares during the last quarter. 82.37% of the stock is currently owned by institutional investors and hedge funds.

SunTrust Banks Company Profile

SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.

5 Day Chart for NYSE:STI

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