SunTrust Banks (STI) PT Raised to $73.00

SunTrust Banks (NYSE:STI) had its price objective raised by equities research analysts at BMO Capital Markets from $61.00 to $73.00 in a note issued to investors on Monday. The firm presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 13.21% from the company’s current price.

A number of other brokerages have also recently issued reports on STI. Sanford C. Bernstein cut SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 target price on the stock. in a report on Friday. Keefe, Bruyette & Woods cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Friday. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Saturday, January 5th. Jefferies Financial Group cut SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Finally, B. Riley set a $79.00 target price on SunTrust Banks and gave the stock a “buy” rating in a report on Monday, October 15th. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $72.02.

SunTrust Banks stock traded up $0.11 during mid-day trading on Monday, hitting $64.48. The stock had a trading volume of 3,119,689 shares, compared to its average volume of 5,793,275. The stock has a market cap of $23.99 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 1.32 and a beta of 1.51. SunTrust Banks has a 12 month low of $46.05 and a 12 month high of $75.08. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.68.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, January 18th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.10. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 earnings per share. As a group, sell-side analysts expect that SunTrust Banks will post 5.87 EPS for the current year.

A number of institutional investors have recently made changes to their positions in STI. Capital International Investors acquired a new stake in SunTrust Banks in the 3rd quarter valued at approximately $441,578,000. Oregon Public Employees Retirement Fund increased its position in shares of SunTrust Banks by 4,883.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,581,469 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 2,529,671 shares during the last quarter. Vanguard Group Inc increased its position in shares of SunTrust Banks by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 36,403,676 shares of the financial services provider’s stock worth $2,431,401,000 after purchasing an additional 793,283 shares during the last quarter. Vanguard Group Inc. increased its position in shares of SunTrust Banks by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 36,403,676 shares of the financial services provider’s stock worth $2,431,401,000 after purchasing an additional 793,283 shares during the last quarter. Finally, Bridgeway Capital Management Inc. acquired a new position in shares of SunTrust Banks during the 3rd quarter worth approximately $28,406,000. 83.02% of the stock is currently owned by institutional investors and hedge funds.

SunTrust Banks Company Profile

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through 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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