SunTrust Banks (NYSE:STI) had its target price trimmed by Credit Suisse Group from $75.00 to $70.00 in a research note released on Friday. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Edward Jones upgraded shares of SunTrust Banks from a hold rating to a buy rating in a report on Wednesday, October 31st. B. Riley set a $79.00 price objective on shares of SunTrust Banks and gave the stock a buy rating in a report on Monday, October 15th. Jefferies Financial Group reiterated a buy rating and issued a $75.00 price objective on shares of SunTrust Banks in a report on Monday, October 8th. Zacks Investment Research lowered shares of SunTrust Banks from a buy rating to a hold rating in a report on Wednesday, September 19th. Finally, Wedbush set a $75.00 price objective on shares of SunTrust Banks and gave the stock a hold rating in a report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $76.73.

Shares of SunTrust Banks stock opened at $56.94 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.93. SunTrust Banks has a twelve month low of $56.58 and a twelve month high of $75.08. The firm has a market cap of $25.58 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.17. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the company earned $1.06 EPS. The firm’s revenue was down .8% on a year-over-year basis. As a group, sell-side analysts expect that SunTrust Banks will post 5.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be paid a $0.50 dividend. The ex-dividend date is Thursday, November 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.51%. SunTrust Banks’s dividend payout ratio (DPR) is presently 49.50%.

Several institutional investors have recently modified their holdings of STI. Vanguard Group Inc. raised its stake in SunTrust Banks by 2.2% during the third quarter. Vanguard Group Inc. now owns 36,403,676 shares of the financial services provider’s stock worth $2,431,401,000 after acquiring an additional 793,283 shares during the period. Capital International Investors acquired a new stake in SunTrust Banks during the third quarter worth about $441,578,000. LSV Asset Management raised its stake in SunTrust Banks by 0.3% during the second quarter. LSV Asset Management now owns 6,471,822 shares of the financial services provider’s stock worth $427,269,000 after acquiring an additional 21,800 shares during the period. Boston Partners raised its stake in SunTrust Banks by 1.3% during the second quarter. Boston Partners now owns 5,449,455 shares of the financial services provider’s stock worth $359,773,000 after acquiring an additional 71,355 shares during the period. Finally, Northern Trust Corp raised its stake in SunTrust Banks by 1.7% during the second quarter. Northern Trust Corp now owns 5,163,571 shares of the financial services provider’s stock worth $340,899,000 after acquiring an additional 87,873 shares during the period. Institutional investors and hedge funds own 82.80% of the company’s stock.

About SunTrust Banks

SunTrust Banks, Inc is a bank and financial holding company that engages in the provision of financial services. It offers deposit, credit, mortgage banking, trust and investment, asset management, securities brokerage, and capital market services. It operates through the following segments: Consumer, Wholesale, and Corporate Other.

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Analyst Recommendations for SunTrust Banks (NYSE:STI)

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