Market Overview

UPDATE: Jefferies Downgrades SunTrust Banks to Hold on Revenue Headwinds

Share:
Related STI
10 Notable Stocks Trading Ex-Dividend Monday, November 28
Taking Profits In Financials? Proceed With Caution
Banks continue surge on higher rates, lower regulation (Seeking Alpha)

Jefferies downgraded SunTrust Banks (NYSE: STI) from Buy to Hold and lowered the price target from $32.00 to $30.00.

Jefferies noted, "We are downgrading STI to Hold (target to $30 from $32) on revenue trajectory concerns, notably in mortgage banking. STI has a large % of revs. from mortgage production (>10%) and also had a large positive delta in '12 from related fee growth. With gain-on-sale margins declining, STI is more exposed than most to revenue revisions. EPS support from declining credit costs and leverage to housing improvement remain positives."

SunTrust Banks closed at $28.79 on Thursday.

Latest Ratings for STI

DateFirmActionFromTo
Nov 2016Deutsche BankMaintainsBuy
Nov 2016Compass PointDowngradesBuyNeutral
Nov 2016Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for STI
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Analyst Ratings

 

Related Articles (STI)

View Comments and Join the Discussion!