SunTrust Banks, Inc. (NYSE:STI) Receives $73.75 Consensus Target Price from Brokerages

SunTrust Banks, Inc. (NYSE:STI) has earned a consensus rating of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $73.75.

Several equities analysts have commented on the stock. Morgan Stanley reiterated a “hold” rating and set a $72.00 price objective (up previously from $71.00) on shares of SunTrust Banks in a research report on Monday, November 18th. Janney Montgomery Scott lowered shares of SunTrust Banks from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th.

STI stock remained flat at $$70.13 during trading on Friday. SunTrust Banks has a 1-year low of $46.05 and a 1-year high of $71.75. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.99 and a quick ratio of 0.98. The firm’s fifty day moving average is $70.13 and its two-hundred day moving average is $68.10. The company has a market capitalization of $31.14 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.50 and a beta of 1.53.

Institutional investors have recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. lifted its holdings in shares of SunTrust Banks by 5.2% in the 3rd quarter. Pictet Asset Management Ltd. now owns 243,606 shares of the financial services provider’s stock worth $16,760,000 after acquiring an additional 12,100 shares during the last quarter. Redpoint Investment Management Pty Ltd lifted its holdings in shares of SunTrust Banks by 4.4% in the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 24,016 shares of the financial services provider’s stock worth $1,652,000 after acquiring an additional 1,011 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of SunTrust Banks by 10.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 169,637 shares of the financial services provider’s stock worth $11,671,000 after acquiring an additional 16,426 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of SunTrust Banks in the 3rd quarter worth about $2,231,000. Finally, Boston Advisors LLC lifted its holdings in shares of SunTrust Banks by 1.7% in the 3rd quarter. Boston Advisors LLC now owns 58,904 shares of the financial services provider’s stock worth $4,053,000 after acquiring an additional 992 shares during the last quarter. Hedge funds and other institutional investors own 80.38% of the company’s stock.

SunTrust Banks Company Profile

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.

Further Reading: Hedge Funds Explained

Analyst Recommendations for SunTrust Banks (NYSE:STI)

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