SunTrust Banks Inc. (STI) Stock Rating Lowered by Compass Point
SunTrust Banks Inc. (NYSE:STI) was downgraded by analysts at Compass Point from a “buy” rating to a “neutral” rating in a research report issued on Wednesday. They presently have a $54.00 target price on the financial services provider’s stock, up from their prior target price of $48.00. Compass Point’s price target indicates a potential upside of 3.13% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other brokerages also recently weighed in on STI. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Wednesday, November 16th. Standpoint Research downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Robert W. Baird restated an “underperform” rating on shares of SunTrust Banks in a research report on Saturday, November 19th. Wells Fargo & Co. cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Friday, November 18th. Finally, Morgan Stanley cut shares of SunTrust Banks from an “equal weight” rating to an “underweight” rating and set a $53.00 target price for the company. in a report on Monday, November 14th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $46.13.
SunTrust Banks (NYSE:STI) opened at 52.36 on Wednesday. The firm has a market capitalization of $25.97 billion, a price-to-earnings ratio of 14.50 and a beta of 1.36. The firm has a 50-day moving average price of $47.22 and a 200 day moving average price of $43.76. SunTrust Banks has a 12 month low of $31.07 and a 12 month high of $52.65.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, October 21st. The financial services provider reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.15 billion. SunTrust Banks had a net margin of 21.12% and a return on equity of 8.18%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 earnings per share. On average, equities analysts forecast that SunTrust Banks will post $3.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.99%. SunTrust Banks’s payout ratio is 28.89%.
In related news, SVP Thomas E. Panther sold 959 shares of SunTrust Banks stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $44.75, for a total transaction of $42,915.25. Following the completion of the sale, the senior vice president now owns 20,322 shares in the company, valued at approximately $909,409.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Susan S. Johnson sold 794 shares of SunTrust Banks stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $45.58, for a total transaction of $36,190.52. Following the sale, the insider now owns 1,947 shares of the company’s stock, valued at approximately $88,744.26. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Canal Capital Management LLC raised its stake in shares of SunTrust Banks by 0.6% in the third quarter. Canal Capital Management LLC now owns 5,956 shares of the financial services provider’s stock worth $261,000 after buying an additional 35 shares during the last quarter. Washington Trust Bank raised its stake in shares of SunTrust Banks by 0.9% in the third quarter. Washington Trust Bank now owns 4,461 shares of the financial services provider’s stock worth $195,000 after buying an additional 41 shares during the last quarter. Capital Management Corp VA raised its stake in shares of SunTrust Banks by 0.6% in the second quarter. Capital Management Corp VA now owns 8,013 shares of the financial services provider’s stock worth $329,000 after buying an additional 45 shares during the last quarter. Pitcairn Co. raised its stake in shares of SunTrust Banks by 0.7% in the second quarter. Pitcairn Co. now owns 9,813 shares of the financial services provider’s stock worth $403,000 after buying an additional 72 shares during the last quarter. Finally, BancorpSouth Inc raised its stake in shares of SunTrust Banks by 1.7% in the third quarter. BancorpSouth Inc now owns 4,971 shares of the financial services provider’s stock worth $218,000 after buying an additional 85 shares during the last quarter. Institutional investors own 83.93% of the company’s stock.
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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.
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