SunTrust Banks, Inc. (STI) Stock Rating Reaffirmed by Robert W. Baird
SunTrust Banks, Inc. (NYSE:STI)‘s stock had its “hold” rating reiterated by analysts at Robert W. Baird in a research report issued to clients and investors on Sunday. They currently have a $55.00 target price on the financial services provider’s stock. Robert W. Baird’s target price points to a potential downside of 8.07% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of SunTrust Banks in a report on Sunday, July 23rd. Instinet reaffirmed a “neutral” rating and set a $61.00 price objective on shares of SunTrust Banks in a research note on Wednesday, July 12th. BidaskClub raised SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 target price on shares of SunTrust Banks in a report on Thursday, July 27th. Finally, Zacks Investment Research lowered SunTrust Banks from a “buy” rating to a “hold” rating in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the stock. SunTrust Banks presently has a consensus rating of “Hold” and an average target price of $61.13.
SunTrust Banks (NYSE STI) opened at 59.83 on Friday. The firm’s 50-day moving average is $56.12 and its 200 day moving average is $56.01. SunTrust Banks has a 52-week low of $43.87 and a 52-week high of $61.69. The stock has a market capitalization of $28.82 billion, a PE ratio of 15.91 and a beta of 1.31.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, July 21st. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating 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 net margin of 20.51% and a return on equity of 8.48%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.94 earnings per share. On average, equities analysts forecast that SunTrust Banks will post $4.05 earnings per share for the current year.
SunTrust Banks announced that its board has approved a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $1.32 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In related news, insider Susan S. Johnson sold 808 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $57.34, for a total value of $46,330.72. Following the completion of the transaction, the insider now directly owns 3,515 shares of the company’s stock, valued at $201,550.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.55% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of STI. Guardian Life Insurance Co. of America lifted its stake 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 valued at $105,000 after acquiring an additional 18 shares during the last quarter. Fiduciary Trust Co. bought a new position in shares of SunTrust Banks in the 2nd quarter valued at about $118,000. Advisory Services Network LLC grew its position in shares of SunTrust Banks by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 20 shares during the period. Westwood Holdings Group Inc. bought a new position in shares of SunTrust Banks in the 2nd quarter valued at about $136,000. Finally, Independent Portfolio Consultants Inc. grew its position in shares of SunTrust Banks by 184.7% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,648 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 1,718 shares during the period. 81.19% of the stock is currently owned by hedge funds and other institutional investors.
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.
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