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Stock Analyst Update

Firstar, SunTrust Boost Profits Despite Interest-Rate Hikes

BB&T has lackluster results; Synovus beats Wall Street's target.

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Rising interest rates are cramping some banks' earnings, but good loan growth and expense control helped boost first-quarter profits at Firstar (FSR) and SunTrust (STI).

Milwaukee-based Firstar reported the best bank results of the day Tuesday: operating profits of $0.35 per share, which were up 21% and in line with Wall Street expectations.

Laura Pavlenko Lutton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.