Barclays Maintains an 'Underweight' on SunTrust Banks (STI); Gain on Coke Sale Masks Additional Repurchase Losses
Tweet
Share
E-mailGet Alerts STI Hot Sheet
Price: $7.88 +3.55%
Rating Summary:
13 Buy, 23 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 23 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Barclays maintains an 'Underweight' on SunTrust Banks (NYSE: STI) price target of $30.00 (from $28.00).
Analyst, Jason M. Goldberg, said, "STI announced several actions to reposition its balance sheet and designed to reduce risk going forward. Net, we estimate these items will add $1.40 to reported earnings in 3Q12. While capital ratios of 9.5% Tier 1 common (reported 9.4% at 2Q12) and 7.9% (8.0%) under Basel III are relatively unchanged, tangible book value is also expected to decrease modestly."
Net net, Goldberg is raises Q3 EPS estimates from $0.45 to $1.85 and FY12 from $1.94 to $3.35. FY13 from $2.40 to $2.55.
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.
Analyst, Jason M. Goldberg, said, "STI announced several actions to reposition its balance sheet and designed to reduce risk going forward. Net, we estimate these items will add $1.40 to reported earnings in 3Q12. While capital ratios of 9.5% Tier 1 common (reported 9.4% at 2Q12) and 7.9% (8.0%) under Basel III are relatively unchanged, tangible book value is also expected to decrease modestly."
Net net, Goldberg is raises Q3 EPS estimates from $0.45 to $1.85 and FY12 from $1.94 to $3.35. FY13 from $2.40 to $2.55.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
- LG Electronics India (LGEL:IN) PT Raised to INR1,815 at ICICI Securities
- Va Tech Wabag Ltd. (VATW:IN) PT Raised to INR2,410 at ICICI Securities
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Barclays, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
