A number of other equities analysts have also commented on STI. Zacks Investment Research lowered shares of SunTrust Banks from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $73.00 price objective (down previously from $80.00) on shares of SunTrust Banks in a report on Monday, March 11th. Macquarie upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 price objective on the stock in a report on Friday, February 8th. Robert W. Baird lowered shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and set a $61.90 price objective on the stock. in a report on Monday, January 28th. Finally, Sanford C. Bernstein lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 price objective on the stock. in a report on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $70.65.
NYSE:STI opened at $65.09 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.76. The firm has a market cap of $29.02 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.43 and a beta of 1.56. SunTrust Banks has a twelve month low of $46.05 and a twelve month high of $75.08.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. SunTrust Banks had a net margin of 25.26% and a return on equity of 12.22%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the business posted $1.29 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts forecast that SunTrust Banks will post 5.78 EPS for the current year.
In other news, Vice Chairman Mark A. Chancy sold 41,882 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $63.10, for a total value of $2,642,754.20. Following the completion of the sale, the insider now owns 228,130 shares of the company’s stock, valued at approximately $14,395,003. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jorge Arrieta sold 4,000 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $66.25, for a total transaction of $265,000.00. Following the completion of the sale, the executive vice president now directly owns 8,662 shares of the company’s stock, valued at approximately $573,857.50. The disclosure for this sale can be found here. Insiders sold a total of 62,488 shares of company stock valued at $3,980,771 in the last three months. Insiders own 0.42% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc increased its position in shares of SunTrust Banks by 2.2% in 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. Geode Capital Management LLC increased its position in shares of SunTrust Banks by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 6,297,205 shares of the financial services provider’s stock worth $317,113,000 after purchasing an additional 684,600 shares during the last quarter. Boston Partners increased its position in shares of SunTrust Banks by 43.7% in the 1st quarter. Boston Partners now owns 6,241,376 shares of the financial services provider’s stock worth $369,802,000 after purchasing an additional 1,898,260 shares during the last quarter. Northern Trust Corp grew its position in shares of SunTrust Banks by 9.1% during the 4th quarter. Northern Trust Corp now owns 5,573,625 shares of the financial services provider’s stock valued at $281,133,000 after buying an additional 463,087 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of SunTrust Banks by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 5,136,609 shares of the financial services provider’s stock valued at $259,091,000 after buying an additional 144,530 shares during the last quarter. 80.36% of the stock is owned by institutional investors.
About SunTrust Banks
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.
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