Regional banker SunTrust Banks, Inc. ( STI ) on Friday saw its rating and price target slashed by analysts at Macquarie Group.
The firm said it downgraded STI from "Outperform" to "Neutral" and lowered its price target from $33 to $26. That new target suggests a small upside to the stock's Thursday closing price of $25.53.
SunTrust shares fell 38 cents, or -1.5%, in premarket trading Friday.
The Bottom Line
Shares of SunTrust Banks ( STI ) have a .16% dividend yield, based on last night's closing stock price of $25.53. The stock has technical support in the $22-$24 price area. If the shares can firm up, we see overhead resistance around the $28-$30 price levels.
SunTrust Banks, Inc. ( STI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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