Argus set a $81.00 price target on SunTrust Banks (NYSE:STI) in a report published on Friday, TipRanks reports. The brokerage currently has a buy rating on the financial services provider’s stock.
Other analysts have also issued research reports about the company. ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Morgan Stanley lowered Silicon Motion Technology from an equal weight rating to an underweight rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research lowered Glu Mobile from a buy rating to a hold rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $70.65.
STI stock traded up $0.60 on Friday, reaching $65.81. The company’s stock had a trading volume of 1,737,658 shares, compared to its average volume of 3,571,791. The company has a fifty day moving average price of $63.64. SunTrust Banks has a 12-month low of $46.05 and a 12-month high of $75.08. The stock has a market capitalization of $29.22 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.20 and a beta of 1.48. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.85.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. SunTrust Banks had a return on equity of 11.86% and a net margin of 23.92%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm posted $1.49 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. On average, equities analysts expect that SunTrust Banks will post 5.65 EPS for the current year.
In other news, insider Robert Ryan Richards sold 1,844 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $62.58, for a total transaction of $115,397.52. Following the completion of the transaction, the insider now directly owns 2,083 shares in the company, valued at $130,354.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Moors & Cabot Inc. increased its holdings in shares of SunTrust Banks by 52.1% during the first quarter. Moors & Cabot Inc. now owns 7,946 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 2,723 shares in the last quarter. Toronto Dominion Bank increased its holdings in SunTrust Banks by 15.6% in the 1st quarter. Toronto Dominion Bank now owns 290,422 shares of the financial services provider’s stock worth $17,203,000 after buying an additional 39,143 shares in the last quarter. Kessler Investment Group LLC increased its holdings in SunTrust Banks by 64.0% in the 1st quarter. Kessler Investment Group LLC now owns 1,048 shares of the financial services provider’s stock worth $62,000 after buying an additional 409 shares in the last quarter. Rowland & Co. Investment Counsel ADV increased its holdings in SunTrust Banks by 0.5% in the 1st quarter. Rowland & Co. Investment Counsel ADV now owns 66,428 shares of the financial services provider’s stock worth $3,936,000 after buying an additional 358 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in SunTrust Banks by 5.3% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 36,401 shares of the financial services provider’s stock worth $1,836,000 after buying an additional 1,830 shares in the last quarter. Hedge funds and other institutional investors own 80.32% of the company’s stock.
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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