Price Don’t Lie: Is SunTrust Banks, Inc. a Buy? The Stock Reaches 52-Week High Today

Price Don't Lie: Is SunTrust Banks, Inc. a Buy? The Stock Reaches 52 Week High Today

The stock of SunTrust Banks, Inc. (NYSE:STI) hit a new 52-week high and has $54.28 target or 3.00% above today’s $52.70 share price. The 8 months bullish chart indicates low risk for the $26.28 billion company. The 1-year high was reported on Dec, 1 by If the $54.28 price target is reached, the company will be worth $788.40M 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 4.00 million shares traded hands. SunTrust Banks, Inc. (NYSE:STI) has risen 23.48% since April 28, 2016 and is uptrending. It has outperformed by 17.56% the S&P500.

Analysts await SunTrust Banks, Inc. (NYSE:STI) to report earnings on January, 27. They expect $0.87 earnings per share, down 4.40% or $0.04 from last year’s $0.91 per share. STI’s profit will be $433.84 million for 15.14 P/E if the $0.87 EPS becomes a reality. After $0.91 actual earnings per share reported by SunTrust Banks, Inc. for the previous quarter, Wall Street now forecasts -4.40% negative EPS growth.

SunTrust Banks, Inc. (NYSE:STI) Ratings Coverage

Out of 23 analysts covering Suntrust Banks Inc. (NYSE:STI), 9 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 39% are positive. Suntrust Banks Inc. has been the topic of 46 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The company was downgraded on Thursday, September 3 by Zacks. The firm has “Neutral” rating given on Tuesday, October 20 by Macquarie Research. The firm has “Hold” rating given on Monday, October 19 by Jefferies. The stock has “Market Perform” rating given by Wells Fargo on Friday, November 18. The stock of SunTrust Banks, Inc. (NYSE:STI) earned “Buy” rating by Credit Agricole on Wednesday, September 9. The stock has “Outperform” rating given by Bernstein on Friday, January 8. As per Monday, January 25, the company rating was maintained by RBC Capital Markets. The stock of SunTrust Banks, Inc. (NYSE:STI) has “Underweight” rating given on Monday, November 14 by Morgan Stanley. The rating was downgraded by Compass Point on Wednesday, November 23 to “Neutral”. The firm has “Market Perform” rating by Bernstein given on Tuesday, August 16.

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 decreased to 0.87 in 2016 Q2. Its down 0.07, from 0.94 in 2016Q1. The ratio dived, 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.
Panagora Asset Incorporated has invested 0.61% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Aviance Cap Mgmt Lc holds 0.04% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 32,631 shares. Janney Montgomery Scott Ltd Liability Company holds 0.02% of its portfolio in SunTrust Banks, Inc. (NYSE:STI) for 34,973 shares. Shell Asset Mngmt, a Netherlands-based fund reported 60,614 shares. Mizuho Tru Banking Com Limited holds 0.1% or 794,435 shares in its portfolio. Quantum Cap Mngmt has invested 0.23% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Parasol Management Ltd Liability Company accumulated 500 shares or 0.02% of the stock. Advance I, a Michigan-based fund reported 7,600 shares. The Minnesota-based Advantus Cap Mngmt has invested 0.06% in SunTrust Banks, Inc. (NYSE:STI). Gillespie Robinson & Grimm has invested 2.48% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Vantage Invest Advsr Ltd Liability Corporation reported 33 shares or 0% of all its holdings. Richard Bernstein Advsrs Limited Liability accumulated 63,199 shares or 0.25% of the stock. Oak Assocs Oh holds 107,930 shares or 0.53% of its portfolio. Cibc Asset Mgmt Inc reported 53,196 shares or 0.02% of all its holdings. Washington Capital Management reported 60,025 shares or 3.51% of all its holdings.

Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 6 selling transactions for $999,654 net activity. Johnson Susan S also sold $36,187 worth of SunTrust Banks, Inc. (NYSE:STI) on Monday, October 24. Panther Thomas E also sold $62,028 worth of SunTrust Banks, Inc. (NYSE:STI) on Wednesday, November 16. 8,000 shares were sold by Cheriyan Anil T, worth $417,160. 8,583 shares were sold by Gillani Aleem, worth $393,960 on Thursday, October 27.

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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