SunTrust Banks, Inc.’s Trend Down, Especially After This Options Activity

 SunTrust Banks, Inc.'s Trend Down, Especially After This Options Activity

In today’s session SunTrust Banks, Inc. (STI) recorded an unusually high (2,592) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious STI decrease. With 2,592 contracts traded and 7094 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: STI170120P00042000 closed last at: $1.37 or 25.7% up. About 1.15M shares traded hands. SunTrust Banks, Inc. (NYSE:STI) has risen 22.07% since March 14, 2016 and is uptrending. It has outperformed by 16.45% 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 $443.91 million for 12.56 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 19 analysts covering Suntrust Banks Inc. (NYSE:STI), 9 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 47% are positive. Suntrust Banks Inc. has been the topic of 41 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The company was initiated on Thursday, October 8 by Guggenheim. The firm earned “Buy” rating on Wednesday, September 9 by Credit Agricole. The stock of SunTrust Banks, Inc. (NYSE:STI) earned “Neutral” rating by Citigroup on Monday, April 25. Wedbush initiated SunTrust Banks, Inc. (NYSE:STI) on Friday, October 7 with “Neutral” rating. The rating was upgraded by Evercore to “Hold” on Thursday, August 27. On Monday, January 25 the stock rating was maintained by RBC Capital Markets with “Outperform”. Portales Partners upgraded the shares of STI in a report on Tuesday, June 28 to “Outperform” rating. The firm earned “Neutral” rating on Thursday, August 20 by Sterne Agee CRT. Robert W. Baird upgraded SunTrust Banks, Inc. (NYSE:STI) rating on Tuesday, August 25. Robert W. Baird has “Underperform” rating and $41.0 price target. The firm earned “Hold” rating on Thursday, August 27 by Zacks.

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 improved, 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.
The South Africa-based Old Mutual Customised Solutions (Proprietary) Limited has invested 0.08% in SunTrust Banks, Inc. (NYSE:STI). Raymond James Na last reported 20,968 shares in the company. Assetmark last reported 13,453 shares in the company. Prentiss Smith And Inc has 0.02% invested in the company for 875 shares. Caisse De Depot Et Placement Du Quebec owns 131,671 shares or 0.01% of their US portfolio. Vident Investment Advisory Limited Liability Com has invested 0.3% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Moreover, Parsons Capital Mngmt Ri has 0.16% invested in SunTrust Banks, Inc. (NYSE:STI) for 31,368 shares. Abner Herrman & Brock Ltd Com holds 1.4% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 143,282 shares. Moreover, Aperio Group Limited Liability Corp has 0.08% invested in SunTrust Banks, Inc. (NYSE:STI) for 239,206 shares. Independent Consultants has invested 0.03% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Envestnet Asset Mngmt Incorporated last reported 147,037 shares in the company. Investec Asset Mgmt holds 2.39M shares or 0.51% of its portfolio. Bp Public Limited Co has invested 0.11% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Teachers Advsr, a New York-based fund reported 2.08M shares. Moreover, Neuberger Berman Limited Company has 0% invested in SunTrust Banks, Inc. (NYSE:STI) for 69,425 shares.

Insider Transactions: Since April 27, 2016, the stock had 0 buys, and 3 insider sales for $1.47 million net activity. Cheriyan Anil T also sold $420,000 worth of SunTrust Banks, Inc. (NYSE:STI) on Monday, May 2. Gillani Aleem sold $1.01 million worth of stock. Shares for $47,403 were sold by Johnson Susan S on Tuesday, July 26.

SunTrust Banks, Inc. is a bank holding firm and a financial holding company. The company has a market cap of $22.31 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 12.12 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 news for SunTrust Banks, Inc. (NYSE:STI) were recently published by: Prnewswire.com, which released: “SunTrust Banks Offers Extended Hours Following Hurricane Matthew” on October 07, 2016. Prnewswire.com‘s article titled: “SunTrust Bank Commemorates 125th Anniversary” and published on September 19, 2016 is yet another important article.

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