Trade Report: Today, SunTrust Banks Inc. (STI) Cut to “Neutral” at Compass Point

Today, SunTrust Banks Inc. (STI) Cut to “Neutral” at Compass Point

Compass Point downgraded shares of SunTrust Banks Inc. (NYSE:STI) from a buy rating to a neutral rating in a research report report published on Wednesday. They currently have $54.00 price target on the financial services provider’s stock, up from their prior price target of $48.00. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued research reports about the stock. FBR & Co set a $49.00 price objective on shares of SunTrust Banks and gave the stock a buy rating in a research report on Monday, October 24th. Zacks Investment Research upgraded shares of SunTrust Banks from a hold rating to a buy rating and set a $59.00 price target for the company in a report on Wednesday, November 16th. Sanford C. Bernstein downgraded shares of SunTrust Banks from an outperform rating to a market perform rating and set a $43.00 price target for the company. in a report on Tuesday, August 16th. They noted that the move was a valuation call. Barclays PLC reiterated a hold rating and issued a $49.00 price target on shares of SunTrust Banks in a report on Monday, November 7th. Finally, Robert W. Baird reiterated an underperform rating on shares of SunTrust Banks in a report on Saturday, November 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. SunTrust Banks presently has an average rating of Hold and a consensus price target of $46.13.

SunTrust Banks (NYSE:STI) opened at 51.56 on Wednesday. The firm has a market capitalization of $25.57 billion, a price-to-earnings ratio of 14.28 and a beta of 1.36. The firm has a 50-day moving average of $47.63 and a 200 day moving average of $43.96. SunTrust Banks has a 12-month low of $31.07 and a 12-month high of $52.65.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, October 21st. The financial services provider reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.03. The company earned $2.20 billion during the quarter, compared to the consensus estimate of $2.15 billion. SunTrust Banks had a net margin of 21.12% and a return on equity of 8.18%. SunTrust Banks’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. On average, equities analysts predict that SunTrust Banks will post $3.57 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, November 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.99%. SunTrust Banks’s dividend payout ratio is currently 28.89%.

In other SunTrust Banks news, SVP Thomas E. Panther sold 959 shares of the firm’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $44.75, for a total transaction of $42,915.25. Following the sale, the senior vice president now directly owns 20,322 shares of the company’s stock, valued at approximately $909,409.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aleem Gillani sold 8,583 shares of the firm’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $45.90, for a total transaction of $393,959.70. Following the sale, the insider now directly owns 239,652 shares in the company, valued at $11,000,026.80. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in SunTrust Banks by 13.0% in the second quarter. Victory Capital Management Inc. now owns 4,105,521 shares of the financial services provider’s stock valued at $168,654,000 after buying an additional 471,201 shares in the last quarter. Roosevelt Investment Group Inc. boosted its stake in SunTrust Banks by 43.0% in the second quarter. Roosevelt Investment Group Inc. now owns 594,445 shares of the financial services provider’s stock valued at $24,420,000 after buying an additional 178,795 shares in the last quarter. Standard Life Investments LTD boosted its stake in SunTrust Banks by 0.6% in the second quarter. Standard Life Investments LTD now owns 2,153,447 shares of the financial services provider’s stock valued at $88,496,000 after buying an additional 11,808 shares in the last quarter. BB&T Corp boosted its stake in SunTrust Banks by 63.3% in the second quarter. BB&T Corp now owns 247,768 shares of the financial services provider’s stock valued at $10,178,000 after buying an additional 96,045 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in SunTrust Banks by 1.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 38,926 shares of the financial services provider’s stock valued at $1,599,000 after buying an additional 418 shares in the last quarter. 81.23% of the stock is currently owned by institutional investors.

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