Earlier this week the Orlando paper ran an article quoting statements made by a Suntrust director following the annual meeting. This individual said Suntrust by inclination was a stock buyer not a seller and flattly stated that STI was not an attractive acquistion because of its high P/E and stock price. Strange comments for a director? possibly...calculated ploy?...possibly...just a dumb director with a personal agenda?...doubt that!
I read the high P/E comment also, but then another officer was quoted as saying that conditions for STI were "banking heaven" that they were in the best markets during the best economic conditions and that their business was flourishing which allowed them to do the things they want and merge or buy companies on THEIR terms.