SunTrust Banks, Inc. (STI) Given Average Recommendation of “Hold” by Brokerages
SunTrust Banks, Inc. (NYSE:STI) has earned a consensus recommendation of “Hold” from the twenty-six research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $59.08.
A number of analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of SunTrust Banks in a report on Wednesday. They set an “outperform” rating and a $70.00 target price for the company. Morgan Stanley raised shares of SunTrust Banks from an “underweight” rating to an “equal weight” rating and set a $63.00 target price for the company in a report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 target price on shares of SunTrust Banks in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of SunTrust Banks in a report on Sunday, July 23rd. Finally, BidaskClub lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th.
A number of large investors have recently bought and sold shares of STI. Retirement Systems of Alabama boosted its stake in SunTrust Banks by 2.1% in the first quarter. Retirement Systems of Alabama now owns 237,540 shares of the financial services provider’s stock valued at $13,136,000 after buying an additional 4,914 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of SunTrust Banks during the first quarter valued at about $224,000. Patten & Patten Inc. TN raised its stake in shares of SunTrust Banks by 6.9% in the first quarter. Patten & Patten Inc. TN now owns 72,012 shares of the financial services provider’s stock valued at $3,982,000 after buying an additional 4,626 shares during the last quarter. DnB Asset Management AS raised its stake in shares of SunTrust Banks by 14.4% in the first quarter. DnB Asset Management AS now owns 56,510 shares of the financial services provider’s stock valued at $3,125,000 after buying an additional 7,100 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its stake in shares of SunTrust Banks by 1.0% in the first quarter. Capital Investment Advisors LLC now owns 23,151 shares of the financial services provider’s stock valued at $1,280,000 after buying an additional 231 shares during the last quarter. 82.10% of the stock is currently owned by institutional investors and hedge funds.
SunTrust Banks (STI) traded down 0.76% during midday trading on Friday, reaching $55.99. The company’s stock had a trading volume of 3,418,636 shares. SunTrust Banks has a 52-week low of $41.76 and a 52-week high of $61.69. The stock has a market capitalization of $26.97 billion, a price-to-earnings ratio of 14.89 and a beta of 1.33. The firm has a 50-day moving average price of $56.86 and a 200 day moving average price of $56.69.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, July 21st. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. SunTrust Banks had a net margin of 20.51% and a return on equity of 8.48%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business earned $0.94 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts predict that SunTrust Banks will post $4.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.40 dividend. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.26. This represents a $1.60 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, August 29th. SunTrust Banks’s payout ratio is currently 27.73%.
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 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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About SunTrust Banks
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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