SunTrust Banks (STI) Receives a Buy from Wells Fargo

Wells Fargo analyst Mike Mayo maintained a Buy rating on SunTrust Banks (STIResearch Report) yesterday. The company’s shares closed yesterday at $64.49.

According to TipRanks.com, Mayo is a 3-star analyst with an average return of 3.3% and a 58.6% success rate. Mayo covers the Financial sector, focusing on stocks such as Goldman Sachs Group Inc, State Street Corp, and Bank of America.

SunTrust Banks has an analyst consensus of Hold, with a price target consensus of $69.14.

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Based on SunTrust Banks’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.77 billion and net profit of $658 million. In comparison, last year the company earned revenue of $2.47 billion and had a net profit of $740 million.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is neutral on the stock.

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SunTrust Banks, Inc. is a bank and financial holding company that engages in the provision of financial services. It offers deposit, credit, mortgage banking, trust and investment, asset management, securities brokerage, and capital market services. It operates through the following segments: Consumer, Wholesale, and Corporate Other.

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