Shares of SunTrust (STI) of Atlanta closed at $24.23 Friday, returning 38% year-to-date, following a 40% decline during 2011.
The shares trade just above tangible book value, and for 9.1 times the consensus 2013 EPS estimate of $2.65. The consensus 2012 EPS estimate is $1.91.
SunTrust will report its second-quarter results on July 20, with analysts expecting a 43-cent profit, compared to EPS of 46 cents in the first quarter and 33 cents in the second quarter of 2011.Jefferies analyst Ken Usdin rates SunTrust a "Buy," with a $28 price target, saying on Wednesday that "Investors remain focused on credit-related expenses, especially following mortgage repurchase preannouncements" from First Horizon and PNC. Usdin expects "continued directional improvement, but do not believe the magnitude of the decline