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Shares of SunTrust Banks Rise to a New 52-Week High

By Nick Russo

SunTrust Banks (NYSE:STI) traded today at a new 52-week high of $46.35. So far today approximately 440,000 shares have been exchanged, as compared to an average 30-day volume of 4 million shares.

SunTrust Banks, Inc. is a super-regional bank holding company. The Company's subsidiary banks operate in Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and the District of Columbia. SunTrust provides a wide range of financial services such as credit cards, mortgage banking, insurance, brokerage and capital markets services.

SunTrust Banks (NYSE:STI) has potential upside of 1.0% based on a current price of $46.24 and analysts' consensus price target of $46.70. SunTrust Banks shares have support at the 200-day moving average (MA) of $39.66 and additional support at the 50-day MA of $37.64.

In the past 52 weeks, shares of SunTrust Banks have traded between a low of $31.07 and a high of $46.35 and are now at $46.24, which is 49% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of SunTrust Banks on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.76. Since that recommendation, shares of SunTrust Banks have risen 4.4%. We continue to monitor STI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows suntrust banks

Ticker(s): STI