SunTrust Banks (NYSE:STI) has tumbled 2.87% during the past week and has dropped 3.03% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.71%. SunTrust Banks (NYSE:STI) has underperformed the index by 3.92% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
SunTrust Banks (NYSE:STI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $40.80 and $40.69 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $41.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $41.26, notching a gain of 1.25% for the day. The total traded volume was 4,342,646 . The stock had closed at $40.75 on the previous day.
The company shares have dropped -6.57% from its 1 Year high price. On Jul 17, 2015, the shares registered one year high at $45.84 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $42.17 and the 200 Day Moving Average price is recorded at $39.08.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Cheriyan Anil T, officer (Corp Ex Vice Pres & CIO) of Suntrust Banks Inc, had unloaded 10,000 shares at an average price of $42 in a transaction dated on May 2, 2016. The total value of the transaction was worth $420,000.
Many analysts have stated their opinion on the company shares. Brokerage firm Susquehanna downgrades its rating on SunTrust Banks (NYSE:STI). The shares have been rated Neutral. Previously, the analysts had a Positive rating on the shares. The rating by the firm was issued on June 7, 2016. Currently the company Insiders own 0.67% of SunTrust Banks shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -0.12% . Institutional Investors own 81.9% of SunTrust Banks shares. During last six month period, the net percent change held by insiders has seen a change of 0.04%.
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 Companys 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 Companys 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.