Markets

SunTrust Banks Cut to “Neutral” at Macquarie (STI)

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.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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