SunTrust Banks (STI) was Downgraded by Robert W. Baird to ” Underperform” while Lowering the Price Target of the company shares to $ 41 from a previous price target of $43 . Earlier the firm had a rating of “Neutral ” on the company shares. Robert W. Baird advised their investors in a research report released on Jul 15, 2016.
Many Wall Street Analysts have commented on SunTrust Banks. SunTrust Banks was Upgraded by Portales Partners to ” Outperform” on Jun 28, 2016. SunTrust Banks was Downgraded by Susquehanna to ” Neutral” on Jun 7, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 44 from a previous price target of $42 .
On the company’s financial health, SunTrust Banks reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 22, 2016. Analyst had a consensus of $0.75. The company had revenue of $2099.00 million for the quarter, compared to analysts expectations of $2046.91 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.
SunTrust Banks opened for trading at $42.58 and hit $42.81 on the upside on Wednesday, eventually ending the session at $42.74, with a gain of 0.16% or 0.07 points. The heightened volatility saw the trading volume jump to 51,20,411 shares. Company has a market cap of $21,418 M.
In a different news, on May 26, 2016, Kenneth J Carrig (CEVP & Chief HR Officer) sold 17,000 shares at $0.00 per share price. According to the SEC, on May 5, 2016, Anil T Cheriyan (Corp Ex Vice Pres & CIO) sold 10,000 shares at $42.00 per share price. On May 2, 2016, Thomas E Freeman (Corp. EVP & Chief Credit Off.) sold 160,555 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Suntrust Banks Inc. is a bank holding company and a financial holding company. Through its principal subsidiary SunTrust Bank the Company offers a line of financial services for consumers 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. SunTrust operates the following business segments: 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 most real estate assets. SunTrust operates primarily within Florida Georgia Maryland North Carolina South Carolina Tennessee Virginia and the District of Columbia.