SunTrust Banks Inc. (NYSE:STI) dropped 1.7% during mid-day trading on Friday . The stock traded as low as $41.79 and last traded at $42.44, with a volume of 3,480,816 shares. The stock had previously closed at $43.17.

Several research analysts recently commented on STI shares. Raymond James Financial Inc. raised shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a research note on Friday, April 22nd. Wells Fargo & Co. reaffirmed a “buy” rating on shares of SunTrust Banks in a research note on Sunday, July 10th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $43.00 price target on shares of SunTrust Banks in a research note on Wednesday, April 13th. JPMorgan Chase & Co. reduced their price target on shares of SunTrust Banks from $43.50 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, April 7th. Finally, Zacks Investment Research downgraded shares of SunTrust Banks from a “hold” rating to a “sell” rating in a research note on Friday, April 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $43.76.

The stock has a market capitalization of $21.43 billion and a PE ratio of 11.64. The firm’s 50-day moving average is $41.90 and its 200-day moving average is $38.87.

SunTrust Banks (NYSE:STI) last released its earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that SunTrust Banks Inc. will post $3.48 earnings per share for the current year.

In related news, CFO Aleem Gillani sold 23,664 shares of the company’s stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $42.49, for a total transaction of $1,005,483.36. Following the sale, the chief financial officer now directly owns 248,235 shares in the company, valued at $10,547,505.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anil T. Cheriyan sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $42.00, for a total transaction of $420,000.00. Following the sale, the insider now owns 89,203 shares in the company, valued at $3,746,526. The disclosure for this sale can be found here.

A number of institutional investors recently made changes to their positions in the stock. Tredje AP fonden raised its position in shares of SunTrust Banks by 1.3% in the fourth quarter. Tredje AP fonden now owns 32,776 shares of the financial services provider’s stock valued at $1,404,000 after buying an additional 422 shares in the last quarter. Strategic Global Advisors LLC bought a new position in shares of SunTrust Banks during the fourth quarter valued at approximately $1,409,000. Azimuth Capital Management LLC raised its position in shares of SunTrust Banks by 1.1% in the fourth quarter. Azimuth Capital Management LLC now owns 41,447 shares of the financial services provider’s stock valued at $1,776,000 after buying an additional 447 shares in the last quarter. Stephens Inc. AR raised its position in shares of SunTrust Banks by 2.2% in the fourth quarter. Stephens Inc. AR now owns 43,330 shares of the financial services provider’s stock valued at $1,856,000 after buying an additional 937 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of SunTrust Banks by 76.9% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 46,000 shares of the financial services provider’s stock valued at $1,971,000 after buying an additional 20,000 shares in the last quarter.

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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