Barclays Maintains an 'Underweight' on SunTrust Banks (STI); Gain on Coke Sale Masks Additional Repurchase Losses
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Price: $7.72 --0%
Rating Summary:
13 Buy, 23 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
13 Buy, 23 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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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.
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