Trade Report: The FBR & Co Reiterates Outperform Rating for SunTrust Banks Inc. (STI)

The FBR & Co Reiterates Outperform Rating for SunTrust Banks Inc. (STI)

SunTrust Banks Inc. (NYSE:STI)‘s stock had its “outperform” rating reiterated by analysts at FBR & Co in a report issued on Tuesday. They currently have a $49.00 price objective on the financial services provider’s stock. FBR & Co’s price objective would suggest a potential upside of 7.22% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Nomura reiterated a “hold” rating on shares of SunTrust Banks in a research report on Saturday, July 9th. Robert W. Baird lowered shares of SunTrust Banks from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $43.00 to $41.00 in a research report on Friday, July 15th. Compass Point increased their price objective on shares of SunTrust Banks from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, July 26th. Sanford C. Bernstein lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 price objective for the company. in a research report on Tuesday, August 16th. They noted that the move was a valuation call. Finally, Portales Partners upgraded shares of SunTrust Banks from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $44.91.

SunTrust Banks (NYSE:STI) opened at 45.70 on Tuesday. The stock has a market cap of $22.91 billion, a PE ratio of 12.37 and a beta of 1.31. SunTrust Banks has a 12 month low of $31.07 and a 12 month high of $46.47. The company’s 50 day moving average is $44.04 and its 200 day moving average is $41.90.

SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. SunTrust Banks had a net margin of 22.31% and a return on equity of 8.53%. The business earned $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business earned $0.89 earnings per share. SunTrust Banks’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts anticipate that SunTrust Banks will post $3.51 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.26 dividend. The ex-dividend date was Monday, August 29th. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.28%. SunTrust Banks’s dividend payout ratio (DPR) is 28.18%.

In related news, insider Susan S. Johnson sold 1,118 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $42.40, for a total value of $47,403.20. Following the completion of the sale, the insider now directly owns 1,119 shares in the company, valued at approximately $47,445.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in STI. Vanguard Group Inc. boosted its stake in shares of SunTrust Banks by 4.2% in the second quarter. Vanguard Group Inc. now owns 32,829,325 shares of the financial services provider’s stock valued at $1,348,629,000 after buying an additional 1,335,505 shares during the last quarter. FMR LLC boosted its stake in shares of SunTrust Banks by 6.5% in the second quarter. FMR LLC now owns 31,288,755 shares of the financial services provider’s stock valued at $1,285,342,000 after buying an additional 1,918,166 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of SunTrust Banks by 64.4% in the second quarter. American Century Companies Inc. now owns 8,267,226 shares of the financial services provider’s stock valued at $339,618,000 after buying an additional 3,238,624 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in shares of SunTrust Banks by 10.8% in the second quarter. BlackRock Investment Management LLC now owns 7,702,533 shares of the financial services provider’s stock valued at $316,420,000 after buying an additional 749,340 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of SunTrust Banks by 5.5% in the second quarter. Boston Partners now owns 7,154,401 shares of the financial services provider’s stock valued at $293,903,000 after buying an additional 374,253 shares during the last quarter. Institutional investors own 82.37% of the company’s stock.

About SunTrust Banks

Related posts

Leave a Comment