SunTrust Banks Receives a Buy from Piper Jaffray

By Ryan Adsit

In a report released yesterday, Kevin Barker from Piper Jaffray reiterated a Buy rating on SunTrust Banks (NYSE: STI), with a price target of $63. The company’s shares closed on Friday at $56.41.

According to, Barker is a 5-star analyst with an average return of 9.4% and a 69.4% success rate. Barker covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, Huntington Bancshares Inc, and Cathay General Bancorp.

SunTrust Banks has an analyst consensus of Moderate Buy, with a price target consensus of $62.38.

The company has a one year high of $61.69 and a one year low of $42.36. Currently, SunTrust Banks has an average volume of 3.14M.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock.

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SunTrust Banks, Inc. is a bank and financial holding company that engages in the provision of financial services. It offers deposit, credit, mortgage banking, trust and investment, asset management, securities brokerage, and capital market services.