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STI

SunTrust

$49.39

-1.5 (-2.95%)

18:03
12/19/18
12/19
18:03
12/19/18
18:03

SunTrust raises prime lending rate to 5.50% from 5.25%

Following the Federal Reserve's announcement to increase the Federal Funds rate, SunTrust Bank announced today it has increased its prime lending rate to 5.50% from 5.25%, effective December 20, 2018. The prime rate is a benchmark used to set interest rates on various forms of consumer and commercial loans. The prime rate last changed on September 27, 2018.

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STI SunTrust
$49.39

-1.5 (-2.95%)

12/12/18
KBWI
12/12/18
DOWNGRADE
KBWI
Market Perform
Keefe, wanting to own defensive banks, downgrades Comerica and KeyCorp
Keefe Bruyette analyst Brian Klock expects the narrative in 2019 to shift to "defensive banks that can grow earnings using other levers rather than depending on rates." With that in mind, the analyst downgraded both Comerica (CMA) and KeyCorp (KEY) to Market Perform from Outperform. Comerica's revenue and earnings growth are largely dependent upon future Fed funds hikes, Klock tells investors in a research note. Further, he sees risk to his revenue growth assumptions next year for KeyCorp and does not see 2019 as the year the company's price-to-earnings multiple closes the discount compared to peers. Klock's top overweight picks among the Large Regionals are Citizens Financial (CFG), M&T Bank (MTB), SunTrust (STI) and Zions Bancorp (ZION).
10/31/18
EDJN
10/31/18
UPGRADE
EDJN
Buy
SunTrust upgraded to Buy from Hold at Edward Jones
09/26/18
GSCO
09/26/18
UPGRADE
Target $196
GSCO
Buy
Goldman says rate hikes halfway through, upgrades M&T Bank to Buy
Goldman Sachs analyst Ryan Nash says his firm's economist is calling for six more rate hikes, two in the second half of 2018 and four more through the end of 2020. With six rate hikes in the books, Goldman believes we are half way through the rate rising cycle, Nash tells investors in a research note. The analyst believes some banks will see upside to revenue growth from rates moving higher. Comerica (CMA), Regions Financial (RF), SunTrust (STI), Citizens Financial (CFG) and KeyCorp (KEY) remain top picks for Nash. He also upgraded M&T Bank (MTB) to Buy from Neutral with 15% upside to his $196 price target. The analyst believes M&T will outperform as the benefits of higher rates exceed market expectations.
09/13/18
PIPR
09/13/18
DOWNGRADE
Target $74
PIPR
Neutral
SunTrust downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Kevin Barker downgraded SunTrust Banks to Neutral and lowered his price target for the shares to $74 from $76. Revenue headwinds are beginning to surface while the shares have had a "great run," Barker tells investors in a research note. He believes slowing sales growth and a flattening of net interest margin could make consensus estimates difficult to achieve.

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