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SunTrust Banks, Inc. Message Board

  • _CAPTAINBLOOD_ _CAPTAINBLOOD_ Jun 28, 1998 7:36 PM Flag


    Suntrust closed at an all-time high on Friday at
    $82 7/16. This climaxed five straight days of higher
    stock prices for STI and a two and one-half month
    consolidation period between $77 - $82. Market permitting,
    Suntrust seems poised to breakout further. The only snafu
    is the light volume on Friday. Monday's action needs
    to confirm the new high when all the players are

    I don't buy into this talk of an STI merger that
    will bring a high premium. It's more likely there will
    be a merger of equals similar to Norwest-Wells
    Fargo. Suntrust would be a wonderful acquisition,
    however at 24 x 1998 earnings and 3 x book value I
    believe STI is fully valuated.

    The last stock
    split (2-1) was in the middle of 1996 in the low $70s
    so it would not surprise me if another split is in
    the cards. Maybe management waits until STI reaches
    the $90s and split the stock 3-1. STI announces
    earnings on July 9th, so keep your fingers crossed.

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43.16+0.43(+1.01%)Aug 26 4:03 PMEDT