Downgrade Alert for SunTrust Banks (STI)
SunTrust Banks (NYSE:STI) was downgraded from Positive to Neutral at Susquehanna today. The stock closed yesterday at $43.40 on volume of 2.9 million shares, below average daily volume of 4.0 million.
SunTrust Banks (NYSE:STI) has potential upside of 7.6% based on a current price of $43.40 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.
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 share prices have moved between a 52-week high of $45.84 and a 52-week low of $31.07 and closed yesterday at 40% above that low price at $43.40 per share. Over the past week, 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 March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.53. Since that recommendation, shares of SunTrust Banks have risen 23.8%. We continue to monitor STI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades suntrust banks