UBS Maintains a 'Buy' on SunTrust Banks (STI); What Risk?
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Price: $31.75 --0%
Rating Summary:
18 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
18 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Trade STI Now!
UBS maintains a 'Buy' on SunTrust Banks (NYSE: STI) price target of $30.00 (from $27.00).
Analyst, Greg Ketron, said, "We believe STI’s plan will be viewed positively as it significantly reduces the stock’s risk-profile. A $375 mln repurchase provision intended to reserve for all future pre-2009 GSE requests was the most significant takeaway. Other highlights were an early termination of a forward agree ment relating to STI’s KO stock position resulting in a $1.9 bln PT gain and $490 increase in tier 1 common capital, STI announced a $3 bln transfer of Loans to HFS ($250 mln loss on transfer), and $200 mln ($100 mln expense) affordable housing investments marketed for sale."
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 $26.68 yesterday, with a 52 week range of $15.79-$26.77.
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Analyst, Greg Ketron, said, "We believe STI’s plan will be viewed positively as it significantly reduces the stock’s risk-profile. A $375 mln repurchase provision intended to reserve for all future pre-2009 GSE requests was the most significant takeaway. Other highlights were an early termination of a forward agree ment relating to STI’s KO stock position resulting in a $1.9 bln PT gain and $490 increase in tier 1 common capital, STI announced a $3 bln transfer of Loans to HFS ($250 mln loss on transfer), and $200 mln ($100 mln expense) affordable housing investments marketed for sale."
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 $26.68 yesterday, with a 52 week range of $15.79-$26.77.
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