Jefferies Maintains a 'Buy' on SunTrust Banks (STI); Sentiment vs. Numbers

Jefferies maintains a 'Buy' on SunTrust Banks (NYSE: STI) price target of $28.00.

Analyst, Ken Usdin, said, "Core results looked fine, but STI's decision not to ask for a higher return of capital weighed on the stock. We believe this news means more to near-term sentiment than actual earnings as we do not believe there was a significant expectation for buybacks. We increase our '12 EPS estimate to $1.95 (from $1.80) to reflect better credit and mortgage banking trends, but keep our '13 estimate at $2.65."

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 $23.52 yesterday.

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