SunTrust Banks (STI) Upgraded by UBS to Buy

UBS upgraded shares of SunTrust Banks (NYSE:STI) from a neutral rating to a buy rating in a report released on Tuesday, 99wallstreet.com reports. They currently have $73.00 price objective on the financial services provider’s stock, up from their prior price objective of $62.00.

STI has been the subject of a number of other reports. Citigroup cut SunTrust Banks from an outperform rating to a market perform rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a buy rating and set a $65.00 price objective on shares of SunTrust Banks in a research note on Monday, October 23rd. Zacks Investment Research raised SunTrust Banks from a hold rating to a buy rating and set a $68.00 price objective for the company in a research note on Tuesday, October 10th. FBR & Co reaffirmed a hold rating and set a $62.00 price objective on shares of SunTrust Banks in a research note on Friday, October 20th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $62.00 price objective on shares of SunTrust Banks in a research note on Tuesday, October 3rd. Fifteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $64.58.

Shares of SunTrust Banks (NYSE:STI) opened at $65.00 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94. SunTrust Banks has a 52 week low of $51.96 and a 52 week high of $66.11. The company has a market capitalization of $30,489.93, a price-to-earnings ratio of 16.59, a P/E/G ratio of 1.72 and a beta of 1.29.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. analysts anticipate that SunTrust Banks will post 4.06 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a $0.40 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.46%. SunTrust Banks’s payout ratio is 41.03%.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Fiduciary Trust Co. acquired a new position in shares of SunTrust Banks during the second quarter worth about $118,000. Advisory Services Network LLC boosted its position in shares of SunTrust Banks by 0.9% during the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after buying an additional 20 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of SunTrust Banks during the second quarter worth about $136,000. Tiedemann Wealth Management LLC boosted its position in shares of SunTrust Banks by 12.1% during the third quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock worth $142,000 after buying an additional 2,920 shares during the period. Finally, Dupont Capital Management Corp boosted its position in shares of SunTrust Banks by 55.2% during the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after buying an additional 933 shares during the period. 80.83% of the stock is owned by institutional investors.

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About SunTrust Banks

SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.

Analyst Recommendations for SunTrust Banks (NYSE:STI)

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