Goldman Sachs Remains Neutral On SunTrust Banks (STI)

Goldman Sachs reamined Neutral on SunTrust Banks STI and made no change to SunTrust's $28 price target in a research report published today.

In the report, Goldman Sachs states, "The commentary around weak mortgage banking income in the quarter was not unexpected, although the double-digit linked-quarter aggregate decline in fee income may have been worse than some expected (given the under-performance in the stock). We continue to believe the bigger driver to earnings expectations is the amount needed to repay TARP and the potential for loan growth in 2011."

Shares of SunTrust Banks were trading at $29.21 in pre-market trading at the time of posting, down 0.65% from Wednesday's market close.