Price Action to Note: SunTrust Banks, Inc. Can’t Be More Hot. Just Reaches 52-Week High

Price Action to Note: SunTrust Banks, Inc. Can't Be More Hot. Just Reaches 52 Week High

The stock of SunTrust Banks, Inc. (NYSE:STI) hit a new 52-week high and has $61.88 target or 30.00% above today’s $47.60 share price. The 7 months bullish chart indicates low risk for the $23.07 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $61.88 price target is reached, the company will be worth $6.92 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.87 million shares traded hands. SunTrust Banks, Inc. (NYSE:STI) has risen 29.00% since April 7, 2016 and is uptrending. It has outperformed by 24.21% the S&P500.

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 firm has “Equal Weight” rating by Barclays Capital given on Monday, January 25. The rating was upgraded by Credit Agricole to “Buy” on Wednesday, September 9. As per Thursday, September 3, the company rating was downgraded by Zacks. JP Morgan maintained SunTrust Banks, Inc. (NYSE:STI) on Thursday, April 7 with “Overweight” rating. The firm earned “Hold” rating on Monday, October 19 by Jefferies. The stock has “Neutral” rating given by Guggenheim on Thursday, October 8. The rating was upgraded by Bank of America on Tuesday, January 12 to “Buy”. Zacks upgraded SunTrust Banks, Inc. (NYSE:STI) on Monday, September 7 to “Buy” rating. The rating was initiated by Wedbush on Friday, October 7 with “Neutral”. Deutsche Bank maintained SunTrust Banks, Inc. (NYSE:STI) on Thursday, September 17 with “Buy” rating.

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 Q2 2016. 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.
Citigroup accumulated 0.01% or 232,935 shares. Millennium Management Lc accumulated 0.01% or 111,313 shares. Nicholas Com Wi accumulated 0.1% or 120,760 shares. Winton Ltd has 0.58% invested in the company for 860,570 shares. One Natl Association has 75,808 shares for 0.26% of their US portfolio. Arcadia Invest Corporation Mi has 12 shares for 0% of their US portfolio. Pitcairn, a Pennsylvania-based fund reported 9,813 shares. Wg Shaheen Associate Dba Whitney has 0.85% invested in the company for 50,895 shares. The Illinois-based Deere & has invested 0.09% in SunTrust Banks, Inc. (NYSE:STI). Moreover, Federated Pa has 0.05% invested in SunTrust Banks, Inc. (NYSE:STI) for 417,630 shares. Pggm Invests has 357,894 shares for 0.08% of their US portfolio. First Heartland Consultants Inc has 7,863 shares for 0.04% of their US portfolio. Tci Wealth Advisors Inc accumulated 1,285 shares or 0.03% of the stock. Guardian Life Ins Communications Of America accumulated 1,885 shares or 0.01% of the stock. Washington Capital Management last reported 3.51% of its portfolio in the stock.

Insider Transactions: Since July 26, 2016, the stock had 0 insider purchases, and 4 selling transactions for $520,466 net activity. 959 SunTrust Banks, Inc. (NYSE:STI) shares with value of $42,916 were sold by Panther Thomas E. The insider Gillani Aleem sold $393,960. Johnson Susan S also sold $36,187 worth of SunTrust Banks, Inc. (NYSE:STI) shares.

More news for SunTrust Banks, Inc. (NYSE:STI) were recently published by: Prnewswire.com, which released: “SunTrust Bank Expands Partnership with Operation HOPE” on November 01, 2016. Prnewswire.com‘s article titled: “SunTrust Bank to Acquire Assets of Pillar Financial, LLC.” and published on October 20, 2016 is yet another important article.

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.

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