Keefe, Bruyette & Woods Lowers SunTrust Banks (STI) to Market Perform

Keefe, Bruyette & Woods cut shares of SunTrust Banks (NYSE:STI) from an outperform rating to a market perform rating in a research report sent to investors on Friday morning, The Fly reports.

Other research analysts also recently issued research reports about the company. B. Riley set a $79.00 target price on SunTrust Banks and gave the company a buy rating in a research note on Monday, October 15th. 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 research note on Saturday, January 5th. Edward Jones upgraded SunTrust Banks from a hold rating to a buy rating in a research note on Wednesday, October 31st. BMO Capital Markets restated a hold rating and issued a $61.00 target price on shares of SunTrust Banks in a research note on Sunday, January 20th. Finally, ValuEngine upgraded SunTrust Banks from a sell rating to a hold rating in a research note on Saturday, January 19th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $71.27.

Shares of NYSE STI opened at $64.37 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. SunTrust Banks has a one year low of $46.05 and a one year high of $75.08. The stock has a market capitalization of $23.99 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.32 and a beta of 1.51.



SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, January 18th. The financial services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that SunTrust Banks will post 5.87 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of SunTrust Banks by 2.2% in the third quarter. Vanguard Group Inc. now owns 36,403,676 shares of the financial services provider’s stock worth $2,431,401,000 after buying an additional 793,283 shares during the last quarter. Vanguard Group Inc lifted its position in shares of SunTrust Banks by 2.2% in the third quarter. Vanguard Group Inc now owns 36,403,676 shares of the financial services provider’s stock worth $2,431,401,000 after buying an additional 793,283 shares during the last quarter. Capital International Investors acquired a new stake in shares of SunTrust Banks in the third quarter worth about $441,578,000. Victory Capital Management Inc. lifted its position in shares of SunTrust Banks by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,136,609 shares of the financial services provider’s stock worth $259,091,000 after buying an additional 144,530 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of SunTrust Banks by 6.5% in the third quarter. Bank of Montreal Can now owns 4,387,551 shares of the financial services provider’s stock worth $293,045,000 after buying an additional 269,665 shares during the last quarter. 83.02% of the stock is owned by institutional investors.

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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