STI
SunTrust Banks, Inc.NYSE
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  • Wed, Nov. 30, 11:45 AM
    • While the pick of ex-Goldmanite and Hollywood player Steven Mnuchin for Treasury Secretary can hardly be called "draining the swamp," Pantheon's Ian Shepherdson says it should make Wall Street happy.
    • In his first public comments after being selected, Mnuchin promised to "kill" swaths of Dodd-Frank.
    • Also making Wall Street (and other bankers/insurers/brokers) happy today is another big move higher in interest rates, with the 10-year Treasury yield up 10 basis points to 2.394%.
    • The S&P 500 is just marginally higher, but the KBE is ahead 1.9%, and the KRE 2%. XLF +1.35%
    • Bank of America (BAC +3.4%), Citigroup (C +1.9%), JPMorgan (JPM +1.5%), Wells Fargo (WFC +1.8%), Morgan Stanley (MS +2.1%), Goldman Sachs (GS +3.9%), U.S. Bancorp (USB +1%), PNC Financial (PNC +1.4%), KeyCorp (KEY +2.2%), Fifth Third (FITB +2.5%), Regions Financial (RF +2.9%), BB&T (BBT +2.4%), SunTrust (STI +2%)
    • MetLife (MET +2%), AIG (AIG +0.8%), Lincoln National (LNC +1.7%), Prudential (PRU +1.1%), Hartford (HIG +1.3%)
    • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, IYG, FNCL, SEF, FXO, RYF, FINU, RWW, XLFS, FINZ, JHMF, FAZZ, FNCF
    | Wed, Nov. 30, 11:45 AM | 54 Comments
  • Wed, Nov. 23, 10:58 AM
    • The valuation-related downgrades continue to roll in for the red-hot banking sector. This morning it's Compass Point cutting Hilltop Holdings (HTH -0.5%) and SunTrust (STI -0.2%) to Neutral from Buy.
    • HTH is up 46% YTD, including a 13% run since the election. STI is up 21% YTD, including a 14% run since the election.
    | Wed, Nov. 23, 10:58 AM
  • Mon, Nov. 14, 11:33 AM
    • The major averages are stuck in the red, but the XLF is up 2.2% and the KBE +3% as financial sector investors mull a world of higher interest rates and lowered regulation.
    • REITs continue to fall, but thanks to this fall's sector reclassification, those names are no longer in the financial indexes.
    • Regional banks: Regions Financial (RF +6.9%), New York Community (NYCB +2.9%), KeyCorp (KEY +3.1%), PNC Financial (PNC +2.4%), Fifth Third (FITB +4%), SunTrust (STI +3%), M&T (MTB +3.1%)
    • Insurers: MetLife (MET +2.2%), Lincoln (LNC +3.2%), AIG (AIG +2.1%), Hartford (HIG +2.3%), Travelers (TRV +1.4%)
    • Online brokerage: Schwab (SCHW +3.6%), Ameritrade (AMTD +2.5%)
    • Asset management: Franklin Resources (BEN +3.2%), Och-Ziff (OZM +4.5%), Invesco (IVZ +2.2%), T. Rowe Price (TROW +2.8%), BlackRock (BLK +0.4%)
    | Mon, Nov. 14, 11:33 AM | 8 Comments
  • Wed, Nov. 9, 3:39 PM
    • SunTrust Banks (NYSE:STI) declares $0.26/share quarterly dividend, in line with previous.
    • Forward yield 2.16%
    • Payable Dec. 15; for shareholders of record Nov. 30; ex-div Nov. 28.
    | Wed, Nov. 9, 3:39 PM
  • Wed, Nov. 9, 10:22 AM
    • Banking stocks are ripping solid gains on the heels of the Republican party taking the White House and retaining control of Congress. The prospect of higher interest rates and lighter regulation is outweighing concerns over new U.S. trade policies.
    • "Bank stocks have been besieged by Dodd-Frank regulations and a climate not conducive to supporting a stronger level of economic growth," observes Smead Capital Management.
    • Notable gainers include SunTrustBanks (STI +2.9%), Comerica (CMA +3.5%), Wells Fargo (WFC +2.7%), State Bank Financial (STBZ +3.7%), First Republic Bank (FRC +3.3%), Barclays (BCS +2.8%), Credit Suisse (CS +1.6%).
    • Then there's JPMorgan (JPM +3.2%) and Bank of America (BAC +3.2%) which just carved out new  52-week highs.
    • The SPDT KWB (NYSEARCA:KBE) is up 2.66% on the day, while the SPDR KBW Regional Banking ETF (NYSEARCA:KRE) is 2.84% higher.
    | Wed, Nov. 9, 10:22 AM | 32 Comments
  • Fri, Oct. 21, 6:04 AM
    • SunTrust Banks (NYSE:STI): Q3 EPS of $0.91 beats by $0.03.
    • Revenue of $2.2B (+6.8% Y/Y) beats by $50M.
    • Press Release
    | Fri, Oct. 21, 6:04 AM | 1 Comment
  • Thu, Oct. 20, 5:30 PM
    | Thu, Oct. 20, 5:30 PM | 2 Comments
  • Fri, Oct. 14, 9:42 AM
    • JPMorgan and Citigroup both easily topped estimates thanks to a big rebound in previously-in-the-doldrums markets revenue. JPM is higher by 1%, and Citi by 2%. The read-through is pushing Goldman Sachs (GS +3%), Morgan Stanley (MS +2.7%) and Bank of America (BAC +2.4%) all nicely higher.
    • Less capital-markets focused, Wells Fargo also beat forecasts, but not as soundly. As usual of late, it's lagging its TBTF peers, up just 0.3%.
    • XLF +1.2%, KRE +1.4%, KBE +1.5%.
    • Other individual names: Regions Financial (RF +2.5%), Huntington Bancshares (HBAN +2.1%), KeyCorp (KEY +1.9%), Fifth Third (FITB +1.5%), SunTrust (STI +1.3%), M&T (MTB +1.7%)
    | Fri, Oct. 14, 9:42 AM | 9 Comments
  • Wed, Oct. 5, 3:27 PM
    • The continued rise in interest rates - the 10-year yield today breaching 1.70% - is giving additional fuel to the financial sector rally.
    • The XLF's 1.7% advance today puts it in a tie with the energy sector's XLE. The S&P 500 is up just 0.45%.
    • Banks, insurers, and brokers are all sharply ahead as investors envision the return of spread income. Even Wells Fargo (WFC +2.8%) is in the green - it's in fact atop the TBTF movers.
    • Other gainers: Goldman Sachs (GS +2.4%), Morgan Stanley (MS +1.7%), U.S. Bancorp (USB +2.1%), SunTrust (STI +2.5%), PNC Financial (PNC +1.3%), E*Trade (ETFC +2.1%), Voya Financial (VOYA +4.7%), Lincoln National (LNC +2.4%).
    | Wed, Oct. 5, 3:27 PM | 3 Comments
  • Wed, Sep. 28, 9:32 AM
    • "Large banks are going to be forced to take on more capital," says Dick Bove. "It will make the cost of funding more, not less, expensive. It will reduce the appeal for investors to put money at risk in the banking system."
    • Bove is commenting on a weekend announcement from Fed Governor Daniel Tarullo promising future stress tests will be geared to demanding even higher cash buffers for banks. Set to take effect next year, the new rule could raise capital requirements for the largest banks by 3 or 4 percentage points, writes Jeff Cox at CNBC.
    • Interested parties: BAC, C, WFC, JPM, GS, MS
    • There's good news though, as those lenders with less than $250B in assets won't be subject to the same standards. FBR's Edward Mills calls it a "significant positive" for regionals, which now have more certainly on the process, reduced regulatory expenses, and thus the ability to return more capital to owners.
    • Interested parties: RF, ZION, CMA, KEY, FITB, STI, NYCB, HBAN, PNC, BBT, MTB
    • ETFs: KRE, KBE, IAT, KBWB, QABA, KBWR, KRU, PSCF, KRS, WDRW, DPST
    | Wed, Sep. 28, 9:32 AM | 24 Comments
  • Mon, Sep. 26, 11:37 AM
    • The S&P 500 is lower by 0.65%, but the XLF is down nearly double that amount, with Deutsche Bank lower by 7% on capital worries and interest rates sliding to a three-week low.
    • At 1.59% on the 10-year Treasury, the yield curve in the space of a few sessions has erased all of its post-Labor Day steepening, and yield-starved players are in retreat.
    • Regions Financial (RF -1.9%), KeyCorp (KEY -1.7%), SunTrust (STI -1.9%), Fifth Third (FITB -1.6%), MetLife (MET -1.6%), Lincoln National (LNC -1.3%).
    • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, IYG, FNCL, SEF, FXO, RYF, FINU, RWW, XLFS, FINZ, JHMF, FAZZ, FNCF
    | Mon, Sep. 26, 11:37 AM | 2 Comments
  • Tue, Sep. 13, 2:09 AM
    • Despite the penalties imposed on Wells Fargo (NYSE:WFC), there is probably no broader problem in the U.S. banking industry over abusive sales practices, according to the head of the Consumer Financial Protection Bureau.
    • Regulators fined the company a total of $185M last Thursday, while Moody's warned the episode would negatively affect the bank's debt. Wells paid another $5M to customers for creating more than 2M fake accounts.
    • Related tickers: JPM, C, BAC, MS, USB, COF, FITB, TD, PNC, STI
    | Tue, Sep. 13, 2:09 AM | 32 Comments
  • Tue, Aug. 16, 8:31 AM
    • SunTrust (NYSE:STI) has run higher by about 30% from the February lows, bringing the bank to a fairly full valuation, according to Bernstein's John McDonald, who downgrades to Market Perform from Outperform. He also reminds that the cycle in credit markets will turn at some point, and notes expectations for rate hikes have diminished.
    | Tue, Aug. 16, 8:31 AM
  • Tue, Aug. 9, 3:06 PM
    • SunTrust Banks (NYSE:STI) declares $0.26/share quarterly dividend, in line with previous.
    • Forward yield 2.45%
    • Payable Sept. 15; for shareholders of record Aug. 31; ex-div Aug. 29.
    | Tue, Aug. 9, 3:06 PM
  • Tue, Jul. 26, 9:30 AM
    • Investors are underestimating the ability of certain lenders to grow earnings even if rates continue to stay super-low, says analyst Erika Najarian.
    • Fitting the bill are Citizens Financial Group (NYSE:CFG), JPMorgan (NYSE:JPM), SunTrust (NYSE:STI), PNC Financial (NYSE:PNC), and Wells Fargo (NYSE:WFC).
    • How might earnings grow in the absence of improved margins? Fee revenue, lower provisions, and efficiency improvements, says Najarian.
    | Tue, Jul. 26, 9:30 AM | 6 Comments
  • Mon, Jul. 25, 8:31 AM
    • SunTrust (NYSE:STI) reported an earnings beat on Friday, but the stock had a rough session as management expressed caution (CC transcript and slides) with regards to hitting net interest margin targets thanks to the rates "lower for longer" outlook.
    • "As a result," said CFO Aleem Gillani, "we are expecting NIM to grind down a little bit in Q3 perhaps a little bit more in Q4."
    • Noting the NIM pressure as well as possibly elevated expenses in H2, analyst Ryan Nash downgrades STI to Buy from Conviction Buy. The price target is cut to $44 from $46, and compares to Friday's close of $42.40.
    | Mon, Jul. 25, 8:31 AM