3 Stocks Driving The Banking Industry Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 16 points (0.1%) at 16,733 as of Monday, June 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,394 issues advancing vs. 1,564 declining with 187 unchanged.

The Banking industry currently sits up 0.1% versus the S&P 500, which is unchanged. Top gainers within the industry include Mitsubishi UFJ Financial Group ( MTU), up 1.6%, and Wells Fargo ( WFC), up 0.5%. On the negative front, top decliners within the industry include Credit Suisse Group ( CS), down 0.7%, and Lloyds Banking Group ( LYG), down 0.6%.

TheStreet would like to highlight 3 stocks pushing the industry higher today:

3. SunTrust Banks ( STI) is one of the companies pushing the Banking industry higher today. As of noon trading, SunTrust Banks is up $0.44 (1.1%) to $38.76 on light volume. Thus far, 963,764 shares of SunTrust Banks exchanged hands as compared to its average daily volume of 3.0 million shares. The stock has ranged in price between $38.28-$38.77 after having opened the day at $38.46 as compared to the previous trading day's close of $38.32.

SunTrust Banks, Inc. operates as the holding company for SunTrust Bank that provides various financial services in the United States. The company operates in three segments: Consumer Banking and Private Wealth Management, Wholesale Banking, and Mortgage Banking. SunTrust Banks has a market cap of $20.3 billion and is part of the financial sector. Shares are up 4.1% year-to-date as of the close of trading on Friday. Currently there are 10 analysts who rate SunTrust Banks a buy, no analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates SunTrust Banks as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full SunTrust Banks Ratings Report now.

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