In today’s session SunTrust Banks, Inc. (STI) recorded an unusually high (462) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious STI decrease. With 462 contracts traded and 8104 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: STI161021P00044000 closed last at: $0.71 or 34.9% down. About 1.71 million shares traded hands. SunTrust Banks, Inc. (NYSE:STI) has risen 25.12% since March 3, 2016 and is uptrending. It has outperformed by 16.77% 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 $451.03 million for 12.84 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. The company was initiated on Tuesday, November 24 by Piper Jaffray. Barclays Capital maintained the stock with “Equal Weight” rating in Monday, January 25 report. Sterne Agee CRT initiated SunTrust Banks, Inc. (NYSE:STI) on Thursday, August 20 with “Neutral” rating. The firm has “Hold” rating given on Thursday, August 27 by Evercore. Susquehanna downgraded SunTrust Banks, Inc. (NYSE:STI) on Tuesday, June 7 to “Neutral” rating. The firm has “Buy” rating given on Wednesday, September 9 by CLSA. The stock of SunTrust Banks, Inc. (NYSE:STI) has “Buy” rating given on Wednesday, August 12 by Deutsche Bank. The firm earned “Hold” rating on Thursday, August 27 by Zacks. Bank of America upgraded the stock to “Buy” rating in Tuesday, January 12 report. The rating was upgraded by Zacks to “Buy” on Monday, September 7.
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, Teachers Advsrs Incorporated has 0.15% invested in SunTrust Banks, Inc. (NYSE:STI) for 2.08M shares. Nomura Asset Management Limited accumulated 0.05% or 67,514 shares. Advisors Asset accumulated 0.01% or 9,910 shares. Ing Groep Nv holds 0.01% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 17,730 shares. Synovus Corp has invested 0.19% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Mgmt Corporation last reported 0.11% of its portfolio in the stock. Springbok Cap Limited holds 0.01% or 1,188 shares in its portfolio. Moreover, Nicholas Wi has 0.1% invested in SunTrust Banks, Inc. (NYSE:STI) for 120,760 shares. Pacad Invest Limited holds 0.03% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 4,800 shares. Ameriprise Fin has invested 0.03% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Huber Cap Mngmt Ltd Limited Liability Company last reported 575,172 shares in the company. The Illinois-based Continental Limited Liability Corporation has invested 1.47% in SunTrust Banks, Inc. (NYSE:STI). Elizabeth Park Cap Advisors owns 303,165 shares or 5.3% of their US portfolio. Pinnacle Limited Liability, a Oklahoma-based fund reported 10,487 shares. Hightower Ltd Com has 0.01% invested in the company for 26,794 shares.
Insider Transactions: Since April 27, 2016, the stock had 0 insider purchases, and 3 insider sales for $1.47 million net activity. Another trade for 10,000 shares valued at $420,000 was sold by Cheriyan Anil T. On Wednesday, April 27 the insider Gillani Aleem sold $1.01 million. On Tuesday, July 26 Johnson Susan S sold $47,403 worth of the stock or 1,118 shares.
SunTrust Banks, Inc. is a bank holding firm and a financial holding company. The company has a market cap of $23.17 billion. 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. It has a 12.39 P/E ratio. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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.
More recent SunTrust Banks, Inc. (NYSE:STI) news were published by: Reuters.com which released: “Fitch Affirms SunTrust Banks Inc. IDRs at ‘A-/F1’; Outlook Stable” on October 04, 2016. Also Washingtonpost.com published the news titled: “Constellation Brands and SunTrust Banks rise; Acuity skids” on October 05, 2016. Prnewswire.com‘s news article titled: “SunTrust Bank Commemorates 125th Anniversary” with publication date: September 19, 2016 was also an interesting one.
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