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This Quarter's Sentiment:
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SocialPicks Community
Worst-ranked financial of 19 rated by US Gov't
STI
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-32.60%
in
178 days
Stress Test results indicated that STI had to raise the most money as compared to it's equity. Looks like the $2.2 bn the gov't wants them to raise compares unfavorably vs the roughly 8 billion in capital, or 28% which is 4% worse than RF's 24% (2.5 bn). The stock has risen more than 100% since before the stress test was revealed by Obama administration, and now trades at close to 70% of book value-- even though book value could be further impaired by future losses. This may sound cheap, if not compared to the just over 30% of book value RF and KEY trade. Also don't like the fact th...
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SunTrust Banks Inc.
STI
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-53.78%
in
431 days
SunTrust Banks, Inc. operates as the holding company for SunTrust Bank, which provides various financial services to consumer and corporate customers in the United States. The company offers various deposit products, including NOW accounts, money market accounts, savings accounts, consumer time, brokered deposits, and foreign deposits; and loans, such as real estate 1-4 family loans, real estate construction loans, real estate commercial loans, and real estate home equity lines. It provides commercial lending; financial risk management; and treasury and payment solutions, including commerci...
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Suntrust's neighbour Wachovia has suprise loss
STI
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-28.12%
in
64 days
(closed on 09/08/08)
Wachovia named a new CEO (from Goldman) and his first act was to announce a surprise loss of up to $2.8bn in the second quarter due to credit-related provisions and legal costs. The annoucment was made after the market closed so Suntrust, BBT, Wachovia along with the rest of the financials will likely be hit tomorrow.
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Suntrust's neighbour Wachovia has suprise loss
STI
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-28.12%
in
64 days
(closed on 09/08/08)
Wachovia named a new CEO (from Goldman) and his first act was to announce a surprise loss of up to $2.8bn in the second quarter due to credit-related provisions and legal costs. The annoucment was made after the market closed so Suntrust, BBT, Wachovia along with the rest of the financials will likely be hit tomorrow.
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Short Suntrust Bank, Inc. (STI)
STI
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-57.36%
in
79 days
(closed on 09/18/08)
Some regional and national banks because of further losses tied to loan defaults as banks begin reporting second-quarter results. Credit trends will continue to show deterioration, particularly in residential construction, credit card and home equity
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From the Blogosphere
Zacks Analyst Blog Highlights: U.S. Bancorp, JP Morgan Chase, Fifth Third Bancorp, Zions Bancorp and SunTrust Banks – Press Releases
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For Immediate Release Chicago, IL – November 3, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: U.S. Bancorp (USB), JP Morgan Chase (JPM), Fifth Third Bancorp (FITB), Zions Bancorp (ZION) and SunTrust Banks (STI). Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513 Here are highlights from Monday’s AnalystBlog: <><>Bank...
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Bank Failures Zoom to 115 – Analyst Blog
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Regulators shut down 9 more banks, including California National Bank; total failed banks in '09 reach 115
Bank failures continue unabated as U.S. regulators on Friday closed down nine more banks, including California National Bank of Los Angeles. The failed banks were situated in California, Illinois, Texas and Arizona. This takes the total number to 115, compared to 25 in 2008 and 3 in 2007.
Besides California National Bank, the eight other banks were Bank USA N.A. of Phoenix, San Diego National Bank of San Diego, Pacific National Bank of San Francisco, Park National Bank of Chicago, Commu...
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Notable Analyst Rating Changes 10/26: MSFT, SLB, AXP, NE Upgraded; FITB/STI/USB, PBI, HRB, HBC Downgraded
UPGRADES:Canaccord Adams upgrades Microsoft (NASDAQ: MSFT) from Hold to Buy and raised their price target from $24 to $34. Click Here for more color.Capital One Southcoast upgrades Schlumberger (NYSE: SLB) from Neutral to Add. Price target $76. Click Here for more color.Stifel Nicolaus upgrades American Express (NYSE: AXP) from Hold to Buy; sets a price target of $50. RBC Capital upgrades Noble Corp (NYSE: NE) from Sector Perform to Outperform.For daily real-time Upgrades go to http://www.streetinsider.com/UpgradesDOWNGRADES:Rochdale Securities' bank analyst Dick Bove downgraded Fifth Th...
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Even Alan Greenspan Thinks the Banks Have Become Too Large
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You know we've reached code red "Outrageous" when even "hands off" Alan Greenspan believes the banks have become too large. As many sensible people have said, anything that is "too big to fail" is TOO big period. Something I've posted on the website many times is the large financial entities are now just like Fannie Mae and Freddie Mac in that everyone knows deep in their hearts that the government would come to their rescue - which gives them an inherent advantage. How can small and medium sized banks compete? They cannot - while JPMorgan (JPM) and Goldman Sachs (GS) claim they are "g...
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3 Oligarchs Now Dominate Mortgage Market; All Backstopped By You
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This entry goes hand in hand with the previous as a nice combo.
A concise but good discussion on the state of the mortgage market; all subsidized by the Federal Reserve aka you. 3 Oligarchs get the cheese, and you sir/madam shall get the eventual trap. Hug your local JPMorgan (JPM), Wells Fargo (WFC), or Bank of America (BAC) oligarch.
I believe we call this corporate socialism... err, free market capitalism. Too "bigger to fail" setting us up for a new decade of bubble and bust cycles. As you note the dogma of "thousands of banks competing in the US marketplace", I will continue to po...
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wlu8140
(-10.01% risk: conservative)
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where do we go from here
- The S&P has now broken the low of 6/12/06, 1219.29. The next stop is 1168.20 of 10/10/05. The Dow and the Nasdaq are in similar situations. I origanall...
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More Resources
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About SunTrust Banks Inc.
- Answers.com
