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July 3, 2014
13:35 EDTSTISunTrust announces agreement to resolve HAMP mortgage claims
SunTrust Banks announced that the United States Attorney's Office for the Western District of Virginia and SunTrust Mortgage have reached an agreement resolving claims related to the company's administration of the federal Home Affordable Modification Program, or HAMP. Under the agreement, SunTrust Mortgage is committed to provide $179M in consumer remediation, up to a maximum of $274M, $20M to fund housing counseling for homeowners, $10M paid toward restitution to the Federal National Mortgage Association and Federal Home Loan Mortgage Corporation, and a cash payment of $16M to the U.S. Treasury. The company will incur a $204M pre-tax charge in Q2 as a result of this agreement.
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July 22, 2014
10:00 EDTSTIOn The Fly: Analyst Downgrade Summary
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05:34 EDTSTISunTrust downgraded to Equal-Weight from Overweight at Evercore
Evercore downgraded SunTrust to Equal-Weight citing the recent outperformance of shares and net interest margin headwinds. The firm lowered its price target for shares to $40 from $42.
July 21, 2014
06:04 EDTSTISunTrust reports Q2 EPS ex-items 81c, consensus 77c
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