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How’s SunTrust Bank?

Detective Krum

Detective Krum

Is Your Bank At Risk?

By: Detective Krum

Is your bank at risk of failing? Let me start with a couple points:

You will be able to read this information at: http://v1-p.com/ and on this blog.

Wachovia’s takeover, sale, failure, whatever you want to call it; Why should this bank interest you?

Wachovia showed five major branches:

Houston Texas office was Rated ( C )

Charlotte, NC office was Rated ( C+ )

Wilmington, Delaware office was Rated ( B+ )

Atlanta, Georgia office was Rated ( B- )

LasVegas, Nevada office was Rated ( C- )

Looking at my previous posts regarding Florida banks, Illinois banks, Texas banks, and now Arizona banks, you understand why a bank with an ( A ) or ( B ) rating is desired. Remember, I said banks with a ( C ) or ( D ) rating meant yellow flags should go up. Three of the five Wachovia banks had a ( C ) range rating. SunTrust shows only one bank based in Atlanta, Georgia with a ( C – ) Rating. City National of Taylor, Texas has a ( C – ) Rating.

SunTrust Bank based in Georgia purchased First Priority Bank on August 2, 2008. First Priority failed and SunTrust acquisition was arranged by a regulatory agency. Granted, assets were acquired by SunTrust but it appears, so was some debt. Could this acquired debt through mortgages and maybe other areas be bad news for SunTrust? Time will tell. You can look at a detailed report here.

In looking at SunTrust, I noticed some interesting information. Looking at the picture:

SunTrust Bank

SunTrust Bank

It appears that SunTrust debt has increased considerably. You can get more information regarding SunTrust right here. Why mention this? Wachovia had five banks and SunTrust shows one. Wachovia had 3 of the 5 in a ( C ) rating and two in ( B ) ratings and Wachovia couldn’t make it work. If SunTrust bank has one and it has a ( C- ) rating, how long can SunTrust stay around? SunTrust Bank stock has gone from about 85 down to 38 on 9/29/2008. The following report was from 9/23/2008.

SunTrust Banks (STI) was downgraded today by analysts at Robert W. Baird and the stock is now at $52.68, down $1.20 (-2.22%) on volume of 1,683,014 shares traded. The brokerage reduced its rating on STI to “Neutral” from “Outperform.” Over the last 52 weeks the stock has ranged from a low of $25.60 to a high of $78.76. SunTrust Banks stock has been showing support around $48.31 and resistance in the $61.59 range. Technical indicators for the stock are bearish and S&P gives STI a negative 1 STARS (out of 5) strong sell ranking. This from here.

If you have any comments or questions, please post in our comments section.

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September 30, 2008 - Posted by | 1, Victory 1 News | , ,

1 Comment »

  1. […] Bank overview here. The v1-p.com link is not correct […]

    Pingback by Weak Banks and Weak Bank Directory « Victory 1 Project | October 7, 2009


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