UBS Maintains a 'Buy' on SunTrust Banks (STI); Redeeming $1.2 Billion in Trust Preferred
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Price: $31.25 --0%
Rating Summary:
18 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 8 | New: 17
Rating Summary:
18 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 8 | New: 17
Trade STI Now!
UBS maintains a 'Buy' on SunTrust Banks (NYSE: STI) price target of $27.00.
Analyst, Greg Ketron, notes that SunTrust was the first in redeeming it's $1.2 billion in Trust Preferred Securities
From the company press release: (i) SunTrust Capital VIII 6.100% Trust Preferred Securities due December 15, 2036 will be redeemed July 11, 2012; and (ii) SunTrust Capital IX 7.875% Trust Preferred Securities issued March 4, 2008, due March 15, 2068, which will be redeemed July 11, 2012...The aggregate principal amount of the Securities outstanding is approximately $1,187,829,000.
For an analyst ratings summary and ratings history on SunTrust Banks click here. For more ratings news on SunTrust Banks click here.
Shares of SunTrust Banks closed at $22.18 yesterday, with a 52 week range of $15.79-$26.52.
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Analyst, Greg Ketron, notes that SunTrust was the first in redeeming it's $1.2 billion in Trust Preferred Securities
From the company press release: (i) SunTrust Capital VIII 6.100% Trust Preferred Securities due December 15, 2036 will be redeemed July 11, 2012; and (ii) SunTrust Capital IX 7.875% Trust Preferred Securities issued March 4, 2008, due March 15, 2068, which will be redeemed July 11, 2012...The aggregate principal amount of the Securities outstanding is approximately $1,187,829,000.
For an analyst ratings summary and ratings history on SunTrust Banks click here. For more ratings news on SunTrust Banks click here.
Shares of SunTrust Banks closed at $22.18 yesterday, with a 52 week range of $15.79-$26.52.
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