SunTrust Banks, Inc. (NYSE:STI) Given New $64.00 Price Target at Nomura

SunTrust Banks, Inc. (NYSE:STI) had its price objective lifted by investment analysts at Nomura from $63.00 to $64.00 in a report issued on Thursday, October 26th. The firm currently has a “neutral” rating on the financial services provider’s stock. Nomura’s price target indicates a potential upside of 11.63% from the company’s previous close.

Several other analysts also recently weighed in on STI. Credit Suisse Group AG upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $56.00 to $60.00 in a research report on Monday, October 9th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of SunTrust Banks in a research note on Sunday, July 23rd. Instinet reiterated a “neutral” rating and issued a $61.00 price objective on shares of SunTrust Banks in a research report on Wednesday, July 12th. Barclays PLC boosted their price objective on shares of SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Finally, Raymond James Financial, Inc. lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Monday, October 23rd. Nineteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. SunTrust Banks has an average rating of “Hold” and an average price target of $63.18.

Shares of SunTrust Banks (NYSE STI) traded up $0.54 during trading hours on Thursday, reaching $57.33. 3,185,800 shares of the company traded hands, compared to its average volume of 3,372,443. SunTrust Banks has a one year low of $50.66 and a one year high of $61.69. The company has a market cap of $27,290.00, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93.

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

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In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.55% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Advisory Services Network LLC increased 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 valued at $121,000 after acquiring an additional 20 shares during the last quarter. Canal Capital Management LLC lifted its stake in SunTrust Banks by 0.4% in the second quarter. Canal Capital Management LLC now owns 6,318 shares of the financial services provider’s stock valued at $358,000 after buying an additional 27 shares during the last quarter. Capital Management Corp VA lifted its stake in SunTrust Banks by 0.5% in the second quarter. Capital Management Corp VA now owns 8,201 shares of the financial services provider’s stock valued at $465,000 after buying an additional 38 shares during the last quarter. Smith Salley & Associates increased its holdings in shares of SunTrust Banks by 1.3% during the second quarter. Smith Salley & Associates now owns 5,139 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 66 shares during the period. Finally, Intrust Bank NA increased its holdings in shares of SunTrust Banks by 0.4% during the second quarter. Intrust Bank NA now owns 16,568 shares of the financial services provider’s stock valued at $940,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 82.32% of the company’s stock.

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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