SunTrust Banks (STI) was Downgraded by Bernstein to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Bernstein advised their investors in a research report released on Aug 16, 2016.
Many Wall Street Analysts have commented on SunTrust Banks. Company shares were Reiterated by Compass Point on Jul 26, 2016 to “Buy”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .Company shares were Reiterated by Goldman on Jul 25, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $44 .Shares were Downgraded by Robert W. Baird on Jul 15, 2016 to ” Underperform” and Lowered the Price Target to $ 41 from a previous price target of $43 .
On the company’s financial health, SunTrust Banks reported $0.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.88. The company had revenue of $2221.00 million for the quarter, compared to analysts expectations of $2157.32 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.
SunTrust Banks opened for trading at $42.03 and hit $42.215 on the upside on Monday, eventually ending the session at $42.1, with a gain of 0.62% or 0.26 points. The heightened volatility saw the trading volume jump to 35,61,315 shares. Company has a market cap of $20,871 M.
In a different news, on Jul 28, 2016, Mark A Chancy (Corp. EVP-Wholesale Bank Exec) sold 28,390 shares at $0.00 per share price. According to the SEC, on Jul 27, 2016, Susan S Johnson (Corporate Executive Vice Pres) sold 1,118 shares at $42.40 per share price. On May 26, 2016, Kenneth J Carrig (CEVP & Chief HR Officer) sold 17,000 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.