Royal Bank Of Canada restated their buy rating on shares of SunTrust Banks, Inc. (NYSE:STI) in a report published on Thursday morning. They currently have a $60.00 target price on the financial services provider’s stock.

A number of other analysts have also recently weighed in on STI. Jefferies Group LLC raised SunTrust Banks from a hold rating to a buy rating and set a $63.00 price objective for the company in a research report on Monday, April 3rd. Oppenheimer Holdings, Inc. reissued a hold rating on shares of SunTrust Banks in a research report on Sunday, April 23rd. Bank of America Corporation reissued a hold rating on shares of SunTrust Banks in a research report on Monday, April 24th. Rafferty Capital Markets raised their price objective on SunTrust Banks from $63.00 to $64.50 and gave the stock a buy rating in a research report on Monday, April 24th. Finally, Barclays PLC raised their price objective on SunTrust Banks from $62.00 to $65.00 and gave the stock an equal weight rating in a research report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $58.58.

SunTrust Banks (NYSE STI) opened at 56.59 on Thursday. The stock has a 50 day moving average price of $56.42 and a 200 day moving average price of $56.52. The stock has a market cap of $27.33 billion, a PE ratio of 15.05 and a beta of 1.33. SunTrust Banks has a 1-year low of $41.07 and a 1-year high of $61.69.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.05. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.29 billion. SunTrust Banks had a return on equity of 9.05% and a net margin of 23.77%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS. On average, analysts predict that SunTrust Banks will post $4.03 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was published by Watch List News and is owned by of Watch List News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright laws. The legal version of this news story can be accessed at https://www.watchlistnews.com/royal-bank-of-canada-reiterates-buy-rating-for-suntrust-banks-inc-sti/1463454.html.

SunTrust Banks declared that its board has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $1.32 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 4.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional investors have recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America raised its position in SunTrust Banks by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 1,893 shares of the financial services provider’s stock worth $105,000 after buying an additional 18 shares during the last quarter. Canal Capital Management LLC raised its position in SunTrust Banks by 0.4% in the second quarter. Canal Capital Management LLC now owns 6,318 shares of the financial services provider’s stock worth $358,000 after buying an additional 27 shares during the last quarter. Capital Management Corp VA raised its position in SunTrust Banks by 0.4% in the first quarter. Capital Management Corp VA now owns 8,163 shares of the financial services provider’s stock worth $451,000 after buying an additional 35 shares during the last quarter. Great Lakes Advisors LLC raised its position in SunTrust Banks by 0.5% in the first quarter. Great Lakes Advisors LLC now owns 8,984 shares of the financial services provider’s stock worth $497,000 after buying an additional 43 shares during the last quarter. Finally, Ronald Blue & Co. LLC raised its position in SunTrust Banks by 0.9% in the first quarter. Ronald Blue & Co. LLC now owns 6,315 shares of the financial services provider’s stock worth $349,000 after buying an additional 54 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

SunTrust Banks Company Profile

SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.

Analyst Recommendations for SunTrust Banks (NYSE:STI)

Receive News & Ratings for SunTrust Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.