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Downgrade Alert for SunTrust Banks (STI)

By Nick Russo

SunTrust Banks (NYSE:STI) was downgraded from Outperform to Market Perform at Bernstein today. The stock closed yesterday at $42.11 on volume of 3.3 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 $42.11 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%.

SunTrust Banks (NYSE:STI) has potential upside of 10.9% based on a current price of $42.11 and analysts' consensus price target of $46.70. The stock should find initial support at its 200-day moving average (MA) of $39.66 and further support at its 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 tracking the current trend status for SunTrust Banks and will alert subscribers who have STI in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades suntrust banks

Ticker(s): STI