Market Watch (Free subscription) | 07/22/2009
NEW YORK (MarketWatch) -- Stocks in the financial sector reversed course to trade higher Wednesday afternoon, sparked by rallies in shares of regional banks after many of them were beaten up in the previous trading session. The benchmark exchange-traded fund, Financial Select Sector SPDR Fund , was up 0.7% to 12.21 after falling as low as 2% in morning trade. Regional banks including KeyCorp , SunTrust...
Market Watch (Free subscription) | 07/22/2009
NEW YORK (MarketWatch) -- SunTrust Banks Inc. Chairman and Chief Executive James M. Wells III said the regional bank expects credit losses and non-performing loans to increase in the third quarter.
Market Watch (Free subscription) | 07/22/2009
NEW YORK (MarketWatch) -- SunTrust Banks Inc. reported Wednesday that it swung to a second-quarter loss on increased credit costs and a year-earlier gain as the bank's results beat expectations.
Market Watch (Free subscription) | 07/13/2009
NEW YORK (MarketWatch) -- Analysts at Credit Suisse lowered their second quarter earnings estimates for SunTrust Banks Inc. Monday, saying the dilution of additional shares and lower realized gains negatively impacted the bottom-line. The analysts now expect the bank to report a loss of 51 cents a share, down from a gain of 2 cents a share. The revision comes more in line with the average consensus...
Market Watch (Free subscription) | 06/15/2009
BOSTON (MarketWatch) -- SunTrust Banks Inc. in a Securities and Exchange Commission Filing on Monday said it is lowering its tender offer to purchase preferred shares to $750 million from $1 billion. SunTrust shares were down fractionally on Monday morning. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this...
Market Watch (Free subscription) | 06/08/2009
BOSTON (MarketWatch) -- SunTrust Banks Inc. Monday said it has completed a previously announced common stock offering and other moves that bring the company's capital ratios to the target indicated by the government's "stress tests" of the nation's largest banks. The Atlanta-based bank said it sold 124.3 million shares of common stock and raised $1.56 billion in new capital. "The positive...
Market Watch (Free subscription) | 05/15/2009
BOSTON (MarketWatch) -- Fitch Ratings on Friday placed nine U.S. banks on Rating Watch Negative: BB&T Corp. , Discover Financial Services , Fifth Third Bancorp , KeyCorp , M&T Bank Corp. , Popular Inc. , Regions Financial Corp. , SunTrust Banks Inc. and Wells Fargo & Co. . The move reflects the view that the banks "show an incrementally higher level of vulnerability to the credit...
Market Watch (Free subscription) | 05/15/2009
NEW YORK (MarketWatch) -- SunTrust Banks Inc. said on Friday that it is selling up to $1.25 billion of common stock and cutting its quarterly dividend to a penny a share from 10 cents, in order to comply with new federal capital guidelines for banks. "While it was determined that SunTrust is currently well-capitalized, and projected to remain so under the Treasury's more adverse-than-expected...
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