SunTrust Banks, Inc. (NYSE:STI)‘s stock had its “hold” rating reiterated by equities researchers at Robert W. Baird in a note issued to investors on Friday. They presently have a $55.00 target price on the financial services provider’s stock. Robert W. Baird’s price objective suggests a potential downside of 2.50% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of SunTrust Banks in a research note on Sunday, July 23rd. Piper Jaffray Companies restated a “buy” rating and issued a $63.00 target price on shares of SunTrust Banks in a research note on Monday. BidaskClub cut SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Instinet restated a “neutral” rating and issued a $61.00 target price on shares of SunTrust Banks in a research note on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $58.00 target price on shares of SunTrust Banks in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $60.39.

Shares of SunTrust Banks (STI) traded down 1.44% during mid-day trading on Friday, hitting $55.60. 1,235,049 shares of the company were exchanged. The firm has a 50 day moving average of $56.91 and a 200 day moving average of $56.63. The company has a market capitalization of $26.78 billion, a price-to-earnings ratio of 14.79 and a beta of 1.33. SunTrust Banks has a 12-month low of $42.36 and a 12-month high of $61.69.

SunTrust Banks (NYSE:STI) last released its earnings results on Friday, July 21st. The financial services provider reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.05. The company 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 8.48% and a net margin of 20.51%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. Equities research analysts forecast that SunTrust Banks will post $4.04 earnings per share for the current year.

SunTrust Banks announced that its board has approved a share buyback program on Wednesday, June 28th that allows the company to repurchase $1.32 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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In other SunTrust Banks news, insider Susan S. Johnson sold 808 shares of SunTrust Banks stock in a transaction on Monday, August 14th. The stock was sold at an average price of $57.34, for a total value of $46,330.72. Following the completion of the sale, the insider now owns 3,515 shares of the company’s stock, valued at approximately $201,550.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Whittier Trust Co. raised its stake in shares of SunTrust Banks by 3.1% in the first quarter. Whittier Trust Co. now owns 1,909 shares of the financial services provider’s stock valued at $105,000 after buying an additional 58 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of 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 valued at $105,000 after buying an additional 18 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of SunTrust Banks during the first quarter valued at approximately $117,000. Fiduciary Trust Co. purchased a new stake in shares of SunTrust Banks during the second quarter valued at approximately $118,000. Finally, Bronfman E.L. Rothschild L.P. raised its stake in shares of SunTrust Banks by 9.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,269 shares of the financial services provider’s stock valued at $125,000 after buying an additional 192 shares during the last quarter. 81.20% of the stock is owned by institutional investors and hedge funds.

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)

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