Downgrade Alert for SunTrust Banks (STI)
SunTrust Banks (NYSE:STI) was downgraded from Conviction Buy to Buy at Goldman Sachs today. The stock closed yesterday at $42.30 on volume of 3.5 million shares, below average daily volume of 4.0 million.
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 36% above that low price at $42.30 per share. The 200-day and 50-day moving averages have moved 0.19% lower and 1.53% higher over the past week, respectively.
There is potential upside of 10.4% for shares of SunTrust Banks based on a current price of $42.30 and an average consensus analyst 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.
SmarTrend is monitoring the recent change of momentum in SunTrust Banks. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of SunTrust Banks in search of a potential trend change.
Keywords: analyst upgrades/downgrades suntrust banks