Analysts Set SunTrust Banks, Inc. (STI) Target Price at $72.24

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Shares of SunTrust Banks, Inc. (NYSE:STI) have received an average recommendation of “Hold” from the twenty-two research firms that are currently covering the firm, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $71.31.

STI has been the subject of several analyst reports. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Saturday, January 5th. Morgan Stanley reissued an “equal weight” rating and set a $73.00 price target (down from $80.00) on shares of SunTrust Banks in a research note on Monday. BMO Capital Markets reissued a “hold” rating and set a $61.00 price target on shares of SunTrust Banks in a research note on Sunday, January 20th. ValuEngine raised SunTrust Banks from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Finally, Jefferies Financial Group lowered SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th.

In other SunTrust Banks news, EVP Jorge Arrieta sold 4,000 shares of SunTrust Banks stock in a transaction on 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of SunTrust Banks stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total value of $653,800.00. Following the sale, the insider now directly owns 205,846 shares of the company’s stock, valued at $13,458,211.48. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Alpha Windward LLC increased its holdings in shares of SunTrust Banks by 2,274.4% in the 4th quarter. Alpha Windward LLC now owns 11,492 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 11,008 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of SunTrust Banks by 3.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 26,593 shares of the financial services provider’s stock valued at $1,341,000 after acquiring an additional 882 shares during the period. Willis Investment Counsel increased its holdings in shares of SunTrust Banks by 22.3% in the 3rd quarter. Willis Investment Counsel now owns 267,446 shares of the financial services provider’s stock valued at $17,863,000 after acquiring an additional 48,700 shares during the period. United Services Automobile Association increased its holdings in shares of SunTrust Banks by 5.2% in the 3rd quarter. United Services Automobile Association now owns 236,580 shares of the financial services provider’s stock valued at $15,801,000 after acquiring an additional 11,622 shares during the period. Finally, YHB Investment Advisors Inc. increased its holdings in shares of SunTrust Banks by 32.1% in the 4th quarter. YHB Investment Advisors Inc. now owns 72,870 shares of the financial services provider’s stock valued at $3,676,000 after acquiring an additional 17,719 shares during the period. 95.47% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:STI traded up $0.05 during trading on Friday, hitting $64.14. The company had a trading volume of 167,515 shares, compared to its average volume of 5,044,588. The firm has a market capitalization of $28.41 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.31 and a beta of 1.55. SunTrust Banks has a one year low of $46.05 and a one year high of $75.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.95 and a quick ratio of 0.94.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, January 18th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.10. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.09 EPS. As a group, analysts expect that SunTrust Banks will post 5.8 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 28th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Wednesday, February 27th. SunTrust Banks’s dividend payout ratio (DPR) is presently 35.09%.

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.

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Analyst Recommendations for SunTrust Banks (NYSE:STI)

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