Zacks Investment Research downgraded shares of SunTrust Banks Inc. (NYSE:STI) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

According to Zacks, “SunTrust shares have substantially outperformed the Zacks categorized Major Regional Banks industry over the last three months. Its initiatives to enhance revenues through growth in loan and deposit balances are impressive. In Oct 2016, the company announced a deal to buy Pillar Financial, which is likely to improve Wholesale Banking segment revenue by $90 million in 2017. Also, the gradually stabilizing energy sector will aid the company’s credit quality in the near term. However, significant exposure to risky loan portfolios and stringent regulatory requirements are major cause of concerns. Further, pressure on margin is expected to continue in absence of notable rate hike.”

Other equities analysts have also issued research reports about the company. Sanford C. Bernstein lowered SunTrust Banks from an outperform rating to a market perform rating and set a $43.00 price target for the company. in a research report on Tuesday, August 16th. They noted that the move was a valuation call. Wedbush started coverage on SunTrust Banks in a research report on Thursday, October 6th. They issued a neutral rating and a $47.00 price target for the company. Robert W. Baird reiterated an underperform rating on shares of SunTrust Banks in a research report on Thursday, August 4th. Wells Fargo & Co. lowered SunTrust Banks from an outperform rating to a market perform rating in a research report on Friday, November 18th. Finally, Barclays PLC reiterated a hold rating and issued a $49.00 price target on shares of SunTrust Banks in a research report on Monday, November 7th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SunTrust Banks currently has an average rating of Hold and an average target price of $46.13.

Shares of SunTrust Banks (NYSE:STI) opened at 51.56 on Monday. The company’s 50-day moving average is $47.63 and its 200-day moving average is $43.96. SunTrust Banks has a 52-week low of $31.07 and a 52-week high of $52.65. The firm has a market cap of $25.57 billion, a P/E ratio of 14.28 and a beta of 1.36.

SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, October 21st. The financial services provider reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. SunTrust Banks had a return on equity of 8.18% and a net margin of 21.12%. The business earned $2.20 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the business posted $1.00 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts forecast that SunTrust Banks will post $3.57 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a $0.26 dividend. 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 other SunTrust Banks news, SVP Thomas E. Panther sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $51.69, for a total value of $62,028.00. Following the completion of the transaction, the senior vice president now directly owns 19,122 shares of the company’s stock, valued at $988,416.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anil T. Cheriyan sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $52.15, for a total value of $417,200.00. Following the completion of the transaction, the insider now directly owns 81,203 shares of the company’s stock, valued at $4,234,736.45. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new position in SunTrust Banks during the third quarter worth about $2,205,000. Credit Suisse AG boosted its position in SunTrust Banks by 151.1% in the third quarter. Credit Suisse AG now owns 3,446,948 shares of the financial services provider’s stock valued at $150,976,000 after buying an additional 2,074,075 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in SunTrust Banks by 21.0% in the third quarter. Ameritas Investment Partners Inc. now owns 11,987 shares of the financial services provider’s stock valued at $525,000 after buying an additional 2,080 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in SunTrust Banks during the third quarter valued at $370,000. Finally, Cetera Advisor Networks LLC boosted its position in SunTrust Banks by 70.3% in the third quarter. Cetera Advisor Networks LLC now owns 11,851 shares of the financial services provider’s stock valued at $519,000 after buying an additional 4,892 shares in the last quarter. 81.23% of the stock is owned by hedge funds and other institutional investors.

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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