Susquehanna Downgrades SunTrust Banks to Neutral

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 Susquehanna was issued on Jun 7, 2016.

In a different note, On Apr 25, 2016, Citigroup said it Maintains its rating on SunTrust Banks. In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Neutral’ by the firm. On Apr 7, 2016, JP Morgan said it Maintains its rating on SunTrust Banks. In the research note, the firm Lowers the price-target to $43.50 per share. The shares have been rated ‘Overweight’ by the firm.

SunTrust Banks (STI) shares turned negative on Fridays trading session with the shares closing down -0.49 points or -1.14% at a volume of 29,64,038. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $42.58. The peak price level was also seen at $42.58 while the days lowest was $42.07. Finally the shares closed at $42.48. The 52-week high of the shares is $45.84 while the 52-week low is $31.065. According to the latest information available, the market cap of the company is $21,288 M.

SunTrust Banks(STI) last announced its earnings results on Apr 22, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.10B. Analysts had an estimated revenue of $2.03B. Earnings per share were $0.84. Analysts had estimated an EPS of $0.75.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Kenneth J Carrig (CEVP & Chief HR Officer) sold 17,000 shares at $0.00 per share price.Also, 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.

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