SunTrust Banks Inc. (NYSE:STI) has earned a consensus recommendation of “Buy” from the twenty-seven ratings firms that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $44.74.
A number of equities analysts recently issued reports on STI shares. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday, September 21st. Wells Fargo & Co. reiterated a “buy” rating on shares of SunTrust Banks in a report on Sunday, July 10th. Barclays PLC reiterated an “equal weight” rating and issued a $46.00 target price on shares of SunTrust Banks in a report on Sunday, July 10th. Credit Agricole SA increased their target price on SunTrust Banks from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of SunTrust Banks in a report on Wednesday, June 15th.
SunTrust Banks (NYSE:STI) opened at 43.33 on Friday. The firm has a market capitalization of $21.72 billion, a P/E ratio of 11.73 and a beta of 1.31. The firm has a 50 day moving average of $43.26 and a 200 day moving average of $41.33. SunTrust Banks has a 12-month low of $31.07 and a 12-month high of $45.24.
SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the business earned $0.89 EPS. SunTrust Banks’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts forecast that SunTrust Banks will post $3.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Monday, August 29th. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.24. SunTrust Banks’s dividend payout ratio (DPR) is 28.18%.
In other news, insider Susan S. Johnson sold 1,118 shares of SunTrust Banks stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total transaction of $47,403.20. Following the completion of the sale, the insider now owns 1,119 shares in the company, valued at approximately $47,445.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.67% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. AXA acquired a new stake in shares of SunTrust Banks during the second quarter worth about $127,000. Amica Retiree Medical Trust acquired a new stake in shares of SunTrust Banks during the second quarter worth about $129,000. Euclid Advisors LLC acquired a new stake in shares of SunTrust Banks during the second quarter worth about $140,000. Balentine LLC increased its stake in shares of SunTrust Banks by 13.0% in the first quarter. Balentine LLC now owns 4,254 shares of the financial services provider’s stock worth $153,000 after buying an additional 488 shares during the period. Finally, Washington Trust Bank increased its stake in shares of SunTrust Banks by 2.1% in the second quarter. Washington Trust Bank now owns 4,420 shares of the financial services provider’s stock worth $182,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 82.37% of the company’s stock.
SunTrust Banks Company Profile
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.
Receive News & Ratings for SunTrust Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.