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SunTrust Banks, Inc. (STI) was a big mover last session, as the company saw its shares rise more than 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $54.78 to $61.90 in the past one-month time frame.
The move came after the company announced an agreement to merge with BB&T in an all-stock deal that is valued at around $66 billion.
The company has seen four positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for SunTrust. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
SunTrust Banks currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Is STI going up? Or down? Predict to see what others think: Up or Down
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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SunTrust (STI) Jumps: Stock Rises 10.2%
SunTrust Banks, Inc. (STI) was a big mover last session, as the company saw its shares rise more than 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $54.78 to $61.90 in the past one-month time frame.
The move came after the company announced an agreement to merge with BB&T in an all-stock deal that is valued at around $66 billion.
The company has seen four positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for SunTrust. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
SunTrust Banks currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
SunTrust Banks, Inc. Price
SunTrust Banks, Inc. Price | SunTrust Banks, Inc. Quote
A better-ranked stock in the Banks – Major Regional industry is M&T Bank Corporation (MTB - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is STI going up? Or down? Predict to see what others think: Up or Down
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>