The stock of SunTrust Banks, Inc. (NYSE:STI) hit a new 52-week high and has $57.92 target or 27.00% above today’s $45.61 share price. The 8 months bullish chart indicates low risk for the $23.11B company. The 1-year high was reported on Oct, 5 by Barchart.com. If the $57.92 price target is reached, the company will be worth $6.24 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 852,771 shares traded hands. SunTrust Banks, Inc. (NYSE:STI) has risen 24.28% since March 2, 2016 and is uptrending. It has outperformed by 16.03% the S&P500.
Analysts await SunTrust Banks, Inc. (NYSE:STI) to report earnings on October, 21. They expect $0.89 EPS, down 11.00% or $0.11 from last year’s $1 per share. STI’s profit will be $450.95 million for 12.81 P/E if the $0.89 EPS becomes a reality. After $0.89 actual EPS reported by SunTrust Banks, Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
SunTrust Banks, Inc. (NYSE:STI) Ratings Coverage
Out of 17 analysts covering Suntrust Banks Inc. (NYSE:STI), 8 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 47% are positive. Suntrust Banks Inc. has been the topic of 39 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Barclays Capital maintained SunTrust Banks, Inc. (NYSE:STI) rating on Monday, January 25. Barclays Capital has “Equal Weight” rating and $46.0 price target. The stock of SunTrust Banks, Inc. (NYSE:STI) earned “Buy” rating by Deutsche Bank on Wednesday, August 12. Evercore upgraded the shares of STI in a report on Thursday, August 27 to “Hold” rating. The firm earned “Market Perform” rating on Monday, October 19 by BMO Capital Markets. The firm has “Outperform” rating given on Tuesday, June 28 by Portales Partners. The stock of SunTrust Banks, Inc. (NYSE:STI) has “Overweight” rating given on Tuesday, November 24 by Piper Jaffray. The stock of SunTrust Banks, Inc. (NYSE:STI) has “Buy” rating given on Wednesday, September 9 by CLSA. Zacks upgraded the shares of STI in a report on Monday, September 7 to “Buy” rating. The firm has “Underperform” rating given on Tuesday, August 25 by Robert W. Baird. The rating was downgraded by Robert W. Baird on Friday, July 15 to “”.
According to Zacks Investment Research, “SunTrust Banks, Inc. is a commercial banking organization. The company provides a wide range of services to meet the financial needs of its growing customer base in Alabama, Florida, Georgia, Maryland, Tennessee, Virginia, and the District of Columbia. Its primary businesses include traditional deposit and credit services as well as trust and investment services. (Company Press Release)”
Insitutional Activity: The institutional sentiment increased to 0.94 in 2016 Q2. Its up 0.04, from 0.9 in 2016Q1. The ratio is positive, as 51 funds sold all SunTrust Banks, Inc. shares owned while 230 reduced positions. 74 funds bought stakes while 189 increased positions. They now own 402.06 million shares or 1.73% less from 409.14 million shares in 2016Q1.
Moreover, Joel Isaacson & Co Limited Company has 0.01% invested in SunTrust Banks, Inc. (NYSE:STI) for 1,425 shares. Quantum Cap last reported 40,016 shares in the company. Checchi Advisers Ltd Liability holds 0.03% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 5,666 shares. Hotchkis & Wiley Capital has invested 0.58% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). First Western Mgmt holds 0.85% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 56,337 shares. Wellington Management Grp Llp has invested 0% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Fdx Advisors holds 39,712 shares or 0.07% of its portfolio. Strs Ohio last reported 0.22% of its portfolio in the stock. King Luther Capital accumulated 1.20M shares or 0.48% of the stock. Salient Communications Lta reported 5,537 shares or 0.02% of all its holdings. Moreover, Pinebridge L P has 0.25% invested in SunTrust Banks, Inc. (NYSE:STI) for 120,085 shares. Security National Trust has 0% invested in the company for 150 shares. Guggenheim Limited Liability Com has 0.09% invested in the company for 699,628 shares. Basswood Cap Mngmt Ltd Llc has 39,695 shares for 0.09% of their US portfolio. Commonwealth Fincl Svcs Limited Liability holds 0.02% or 458 shares in its portfolio.
Insider Transactions: Since April 27, 2016, the stock had 0 buys, and 3 sales for $1.47 million net activity. Gillani Aleem sold $1.01 million worth of SunTrust Banks, Inc. (NYSE:STI) on Wednesday, April 27. $47,403 worth of shares were sold by Johnson Susan S on Tuesday, July 26. Another trade for 10,000 shares valued at $420,000 was made by Cheriyan Anil T on Monday, May 2.
More news for SunTrust Banks, Inc. (NYSE:STI) were recently published by: Reuters.com, which released: “Fitch Affirms SunTrust Banks Inc. IDRs at ‘A-/F1’; Outlook Stable” on October 04, 2016. Prnewswire.com‘s article titled: “SunTrust Bank Commemorates 125th Anniversary” and published on September 19, 2016 is yet another important article.
STI Company Profile
SunTrust Banks, Inc., incorporated on July 24, 1984, is a bank holding firm and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for clients and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage and capital market services. The Firm operates through three divisions: Consumer Banking and Private Wealth Management, Wholesale Banking and Mortgage Banking. It also operates a Corporate Other segment, which includes the management of the Company’s investment securities portfolio, long-term debt, end-user derivative instruments, short-term liquidity and funding activities, balance sheet risk management, and real estate assets. The Firm operates primarily within Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.