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10 More Bank Stocks for Bottom-Fishing Investors

3. SunTrust

Shares of SunTrust (STI - Get Report) of Atlanta closed at $17.18 Monday, down 42% year-to-date. The shares trade for 0.7 times their tangible book value of $24.02, according to SNL Financial.

Based on a quarterly payout of five cents, the shares have a dividend yield of 1.16%.

SunTrust was featured among TheStreet's 10 Banks Growing Business Loans, as the company grew its commercial and industrial loan portfolio 2% during the second quarter and 15% year-over-year to $26.2 billion, as of June 30.

SunTrust reported second-quarter net income available to common shareholders of $174 million, or 33 cents a share, improving from a net loss to common shareholders of $56 million, or 11 cents a share, in the second quarter of 2010. The second-quarter provision for credit losses was $392 million, declining from $662 million a year earlier.

The second-quarter net interest margin was 3.53%, expanding from 3.33% a year earlier, mainly reflecting declining funding costs and an improved liability mix. The second-quarter ROA was 0.42%, according to SNL Financial.

FIG Partners analyst Christopher Marinac rates SunTrust "Outperform," with a price target of $32, saying after the company released its second-quarter results in July that he expects the company "can sustain quarterly EPS in the mid-thirty cent range the next few quarters even though some revenue adjustments are necessary given new interchange fee rules (i.e., the Durbin Amendment impact on debit card fee income)."

The shares trade for eight times the consensus 2012 EPS estimate of $2.20, among analysts polled by FactSet.

Out of 26 analysts covering SunTrust, eight rate the shares a buy, 16 have neutral ratings and two analysts recommend selling the shares
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