Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  SunTrust Banks    STI

SUNTRUST BANKS (STI)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

SunTrust Banks, Inc. : April 17, 2012 SunTrust Selected for New Markets Tax Credit Allocation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/17/2012 | 10:10pm CEST

ATLANTA, April 17, 2012 /PRNewswire via COMTEX/ --SunTrust Banks, Inc. (NYSE: STI) was selected by the U. S. Treasury Department's Community Development Financial Institutions Fund earlier this year to receive $45 millionin tax credit allocation authority in the 2012 round of the New Markets Tax Credit (NMTC) Program. The Company's subsidiary, SunTrust Community Capital, was one of 70 recipients receiving awards totaling $3.6 billion. This latest allocation to SunTrust is in addition to $295 millionin previous rounds of which SunTrust has deployed $243.9 million. This is the fifth year SunTrust has been selected as a recipient.

The NMTC Program is designed to attract private-sector capital investment into the nation's urban and rural low-income areas to help finance community development projects, stimulate economic growth and create jobs.

The award will allow SunTrust to continue to make loans and investments with reduced interest rates and/or non-traditional terms and conditions.

"SunTrust is extremely proud of its continuing success in the New Markets Tax Credit industry, and we are hopeful that Congress will extend the New Markets Tax Credit Program to enable us to continue making these impacts for low-income communities and low-income persons," said Chris McGillis, President of SunTrust Community Capital, LLC. "The program enhances our capabilities as a leading provider of community development financial solutions to clients throughout the Southeast and Mid-Atlantic. Our clients' efforts, supported by this capital investment, helps create jobs and solid economic opportunities in areas of severe economic distress."

The NMTC program, established by Congress in December of 2000, permits individual and corporate taxpayers to receive a credit against federal income taxes for making qualified equity investments in investment vehicles known as Community Development Entities (CDEs). The credit provided to the investor totals 39 percent of the cost of the investment and is claimed over a seven-year period. Substantially all of the taxpayer's investment must in turn be used by the CDE to make qualified investments in low-income communities.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of December 31, 2011, SunTrust had total assets of $176.9 billionand total deposits of $127.9 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com.

SOURCE SunTrust Banks, Inc.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SUNTRUST BANKS
04/21SUNTRUST BANKS : Ex-worker may have stolen data on 1.5M says ex-worker may have ..
AQ
04/21SUNTRUST BANKS : Sees Risk of Breach -- WSJ
DJ
04/20SUNTRUST BANKS : Employee May Have Stolen Information About 1.5 Million Clients ..
DJ
04/20SUNTRUST BANKS : Employee May Have Stolen Information About 1.5 Million Clients ..
DJ
04/20SUNTRUST BANKS, INC. (NYSE : STI) Files An 8-K Other Events
AQ
04/20SUNTRUST BANKS : Employee May Have Stolen Information About 1.5 Million Clients
DJ
04/20SUNTRUST BANKS (NYSE : STI) reported earnings of $1.29 per share beating Walls S..
AQ
04/20SUNTRUST BANKS : warns 1.5 million clients of potential data theft
AQ
04/20SUNTRUST BANKS INC : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
04/20SUNTRUST BANKS : to Offer Free Identity Protection
PR
More news
News from SeekingAlpha
04/20SunTrust Banks, Inc. 2018 Q1 - Results - Earnings Call Slides 
04/20SunTrust Banks' (STI) CEO William Rogers on Q1 2018 Results - Earnings Call T.. 
04/20SunTrust discloses possible data theft 
04/20SunTrust Banks beats by $0.18, misses on revenue 
04/19Notable earnings before Friday?s open 
Financials ($)
Sales 2018 9 399 M
EBIT 2018 3 474 M
Net income 2018 2 392 M
Debt 2018 -
Yield 2018 2,58%
P/E ratio 2018 13,04
P/E ratio 2019 11,99
Capi. / Sales 2018 3,33x
Capi. / Sales 2019 3,18x
Capitalization 31 301 M
Chart SUNTRUST BANKS
Duration : Period :
SunTrust Banks Technical Analysis Chart | STI | US8679141031 | 4-Traders
Technical analysis trends SUNTRUST BANKS
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 75,6 $
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
William Henry Rogers Chairman & Chief Executive Officer
Mark A. Chancy Vice-Chairman & Co-Chief Operating Officer
Hugh S. Cummins Co-Chief Operating Officer & Corporate EVP
L. Allison Dukes Chief Financial Officer
Anil T. Cheriyan Chief Information Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
SUNTRUST BANKS3.48%31 301
JP MORGAN CHASE & COMPANY4.24%380 160
INDUSTRIAL AND COMMERCIAL BANK OF CHINA-4.52%328 236
BANK OF AMERICA2.51%309 974
CHINA CONSTRUCTION BANK CORPORATION-4.04%272 699
WELLS FARGO-13.37%256 287