SunTrust Banks Inc. (STI) Receives “Outperform” Rating from FBR & Co
FBR & Co reiterated their outperform rating on shares of SunTrust Banks Inc. (NYSE:STI) in a report published on Tuesday. The brokerage currently has a $49.00 price target on the financial services provider’s stock.
Other research analysts also recently issued reports about the stock. Wells Fargo & Co. reissued a buy rating on shares of SunTrust Banks in a research report on Sunday, July 10th. Robert W. Baird reissued an underperform rating on shares of SunTrust Banks in a research report on Thursday, August 4th. BMO Capital Markets reissued a hold rating and set a $44.00 target price on shares of SunTrust Banks in a research report on Thursday, July 7th. Barclays PLC reissued an equal weight rating and set a $46.00 target price on shares of SunTrust Banks in a research report on Sunday, July 10th. Finally, Sanford C. Bernstein downgraded shares of SunTrust Banks from an outperform rating to a market perform rating and set a $43.00 target price for the company. in a research report on Tuesday, August 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $44.91.
SunTrust Banks (NYSE:STI) opened at 45.63 on Tuesday. SunTrust Banks has a 1-year low of $31.07 and a 1-year high of $46.47. The firm has a market cap of $22.88 billion, a P/E ratio of 12.36 and a beta of 1.31. The stock has a 50 day moving average price of $43.95 and a 200-day moving average price of $41.88.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. SunTrust Banks had a net margin of 22.31% and a return on equity of 8.53%. The business earned $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the firm posted $0.89 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that SunTrust Banks will post $3.51 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.26 dividend. The ex-dividend date was Monday, August 29th. This is a positive change from SunTrust Banks’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.28%. SunTrust Banks’s payout ratio is currently 28.18%.
In other news, insider Susan S. Johnson sold 1,118 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $42.40, for a total value of $47,403.20. Following the completion of the sale, the insider now directly owns 1,119 shares in the company, valued at $47,445.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in STI. Panagora Asset Management Inc. raised its stake in shares of SunTrust Banks by 0.5% in the first quarter. Panagora Asset Management Inc. now owns 2,371,568 shares of the financial services provider’s stock worth $85,566,000 after buying an additional 11,760 shares in the last quarter. Endeavour Capital Advisors Inc. raised its stake in shares of SunTrust Banks by 69.1% in the first quarter. Endeavour Capital Advisors Inc. now owns 912,310 shares of the financial services provider’s stock worth $32,916,000 after buying an additional 372,871 shares in the last quarter. Standard Life Investments LTD raised its stake in shares of SunTrust Banks by 0.6% in the second quarter. Standard Life Investments LTD now owns 2,153,447 shares of the financial services provider’s stock worth $88,496,000 after buying an additional 11,808 shares in the last quarter. AMP Capital Investors Ltd raised its stake in shares of SunTrust Banks by 10.7% in the first quarter. AMP Capital Investors Ltd now owns 294,737 shares of the financial services provider’s stock worth $10,755,000 after buying an additional 28,469 shares in the last quarter. Finally, Pegasus Partners Ltd. raised its stake in shares of SunTrust Banks by 14.9% in the second quarter. Pegasus Partners Ltd. now owns 18,270 shares of the financial services provider’s stock worth $751,000 after buying an additional 2,365 shares in the last quarter. Hedge funds and other institutional investors own 82.37% of the company’s stock.
About SunTrust Banks
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.
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