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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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-48.70%
in
205 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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-48.17%
in
458 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
Stock Market News for December 03, 2009 – Market News
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Stocks held on to previous session’s gains as an upbeat assessment of the economy from the Federal Reserve overshadowed a decline in banking and energy shares. The Dow Jones industrial average, struggling to find direction, slipped from its 14-month high as investors turned their focus towards Friday’s monthly jobs report. Meanwhile, the Fed said in its Beige Book report that the economy was showing modest signs of revival across US as consumer spending increased. However, the report noted labor market conditions remained weak and commercial real estate markets showed weakness. <>The ...
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Notable Analyst Rating Changes 12/2: AMR/UAUA, RFMD, STI, SAY, KBH, BBT Upgraded; STZ, MTL, BWP, POM Downgraded
UPGRADES:Morgan Stanley upgrades the airline sector to Attractive. Morgan upgraded two companies:- AMR Corp. (NYSE: AMR) from Equal Weight to Overweight; and
- UAL Corp. (NYSE: UAUA) from Equal Weight to Overweight.
UBS upgrades RF Micro Devices (NASDAQ: RFMD) from Neutral to Buy.Credit Suisse upgraded SunTrust Banks (NYSE: STI) form Neutral to Outperform and raised their price target to $29.JPMorgan has upgraded Satyam (NYSE: SAY) from Neutral to Overweight.Credit Suisse upgrades KB Home (NYSE: KBH) from Neutral to Outperform.Credit Suisse upgrades BB&T Corp (NYSE: BBT) from Underperform to N...
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U.S. Bancorp to Sell 3 Texas Banks – Analyst Blog
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U.S. Bancorp (USB) announced on Wednesday that its lead bank, U.S. Bank National Association is planning to sell the three Texas banks that were recently acquired from the Federal Deposit Insurance Corporation (FDIC) as part of the acquisition of the banking subsidiaries of FBOP Corp. of Oak Park, Illinois.
The three Texas banks, which the company intends to sell are Citizens National Bank of Teague, Madisonville State Bank of Madisonville and North Houston Bank of Houston. These banks were among the nine banking subsidiaries that were acquired by U.S. Bancorp on Oct 30, 2009, and were pr...
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FDIC Fund in the Negative – Analyst Blog
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In its quarterly report on the banks, issued on Tuesday, the Federal Deposit Insurance Corporation (FDIC) said that the deposit insurance fund used to protect customer accounts dropped by $18.6 billion during the third quarter of 2009 to a deficit of $8.2 billion, while banks earned only $2.8 billion as loan defaults continued to hurt bank balance sheets. The agency said that the decline in the insurance fund was due primarily to an additional $21.7 billion set aside by the FDIC during the quarter for additional bank failures.
While the state of the economy is showing signs of recovery, ther...
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Optimistic Wells Fargo Estimates from Top Wall Street Analysts
<>Warren Buffett loves the company, top Wall Street analysts agree that no one is giving Wells Fargo (WFC) credit for the Wachovia acquisition, and Wells Fargo management continues to reiterate that they could not be happier with the integration of Wachovia. Unless you think Warren Buffett, top Wall Street analysts, Wells Fargo management, and U.S. government stress tests are all wrong, the market is clearly irrational and undervaluing this stock, in addition to undervaluing Bank of America (BAC) (according to John Paulson) and JPMorgan (JPM).
I am interested in knowing <>what pessimists think J...
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wlu8140
(-12.32% 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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About SunTrust Banks Inc.
- Answers.com
