SunTrust Banks, Inc. (NYSE:STI) Receives $70.64 Consensus PT from Analysts

Shares of SunTrust Banks, Inc. (NYSE:STI) have been given a consensus recommendation of “Hold” by the twenty research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $70.64.

A number of research firms have recently commented on STI. Morgan Stanley downgraded Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a report on Monday, April 22nd. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research downgraded Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th.

STI stock traded down $0.35 during mid-day trading on Friday, reaching $65.39. The company had a trading volume of 3,975,031 shares, compared to its average volume of 2,876,222. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.98 and a quick ratio of 0.95. The company has a market cap of $29.18 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. The company has a fifty day moving average of $63.22. SunTrust Banks has a fifty-two week low of $46.05 and a fifty-two week high of $75.08.

SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. SunTrust Banks had a return on equity of 11.86% and a net margin of 23.92%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the business posted $1.49 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts predict that SunTrust Banks will post 5.68 EPS for the current year.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 41,882 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $63.10, for a total transaction of $2,642,754.20. Following the completion of the sale, the insider now directly owns 228,130 shares of the company’s stock, valued at approximately $14,395,003. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Ryan Richards sold 1,844 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $62.58, for a total value of $115,397.52. Following the sale, the insider now directly owns 2,083 shares of the company’s stock, valued at $130,354.14. The disclosure for this sale can be found here. Insiders have sold a total of 50,332 shares of company stock worth $3,177,368 in the last 90 days. 0.42% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of STI. First American Bank lifted its holdings in shares of SunTrust Banks by 4.1% in the 2nd quarter. First American Bank now owns 38,739 shares of the financial services provider’s stock valued at $2,435,000 after buying an additional 1,531 shares during the period. Davy Asset Management Ltd acquired a new stake in shares of SunTrust Banks in the 2nd quarter valued at approximately $664,000. FDx Advisors Inc. lifted its holdings in shares of SunTrust Banks by 9.1% in the 2nd quarter. FDx Advisors Inc. now owns 24,227 shares of the financial services provider’s stock valued at $1,523,000 after buying an additional 2,016 shares during the period. Abner Herrman & Brock LLC lifted its holdings in shares of SunTrust Banks by 0.6% in the 2nd quarter. Abner Herrman & Brock LLC now owns 162,586 shares of the financial services provider’s stock valued at $10,219,000 after buying an additional 940 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of SunTrust Banks by 23.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,793,690 shares of the financial services provider’s stock valued at $112,733,000 after buying an additional 341,554 shares during the period. 80.21% of the stock is owned by institutional investors.

About SunTrust Banks

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.

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Analyst Recommendations for SunTrust Banks (NYSE:STI)

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