SunTrust Banks, Inc. (STI) Expected to Post Earnings of $1.29 Per Share

Brokerages predict that SunTrust Banks, Inc. (NYSE:STI) will post earnings of $1.29 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for SunTrust Banks’ earnings, with the highest EPS estimate coming in at $1.34 and the lowest estimate coming in at $1.22. SunTrust Banks also posted earnings per share of $1.29 during the same quarter last year. The business is expected to issue its next earnings report before the market opens on Thursday, April 18th.

On average, analysts expect that SunTrust Banks will report full-year earnings of $5.80 per share for the current year, with EPS estimates ranging from $5.63 to $5.96. For the next fiscal year, analysts anticipate that the firm will post earnings of $6.14 per share, with EPS estimates ranging from $5.86 to $6.35. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow SunTrust Banks.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, January 18th. The financial services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.40 by $0.10. SunTrust Banks had a net margin of 26.61% and a return on equity of 12.40%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the business posted $1.09 EPS. The firm’s revenue was up 4.3% on a year-over-year basis.

Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of SunTrust Banks from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Macquarie upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 target price for the company in a report on Friday, February 8th. Morgan Stanley restated an “equal weight” rating and issued a $73.00 target price (down previously from $80.00) on shares of SunTrust Banks in a report on Monday, March 11th. Zacks Investment Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Monday, January 7th. Finally, Robert W. Baird cut shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and set a $61.90 target price for the company. in a report on Monday, January 28th. Sixteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. SunTrust Banks currently has a consensus rating of “Hold” and a consensus target price of $71.20.

Shares of SunTrust Banks stock traded up $0.62 during trading hours on Tuesday, hitting $57.71. The company had a trading volume of 3,227,080 shares, compared to its average volume of 4,993,597. SunTrust Banks has a twelve month low of $46.05 and a twelve month high of $75.08. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. The stock has a market cap of $25.31 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 1.19 and a beta of 1.55.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $2.00 annualized dividend and a yield of 3.47%. SunTrust Banks’s dividend payout ratio (DPR) is 35.09%.

In related news, EVP Jorge Arrieta sold 4,000 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $66.25, for a total value of $265,000.00. Following the completion of the sale, the executive vice president now owns 8,662 shares in the company, valued at approximately $573,857.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total transaction of $653,800.00. Following the completion of the sale, the insider now owns 205,846 shares of the company’s stock, valued at approximately $13,458,211.48. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Alpha Windward LLC raised its position in SunTrust Banks by 2,274.4% during the 4th quarter. Alpha Windward LLC now owns 11,492 shares of the financial services provider’s stock worth $580,000 after buying an additional 11,008 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in SunTrust Banks by 3.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 26,593 shares of the financial services provider’s stock worth $1,341,000 after buying an additional 882 shares during the last quarter. Willis Investment Counsel raised its position in SunTrust Banks by 22.3% during the 3rd quarter. Willis Investment Counsel now owns 267,446 shares of the financial services provider’s stock worth $17,863,000 after buying an additional 48,700 shares during the last quarter. United Services Automobile Association raised its position in SunTrust Banks by 5.2% during the 3rd quarter. United Services Automobile Association now owns 236,580 shares of the financial services provider’s stock worth $15,801,000 after buying an additional 11,622 shares during the last quarter. Finally, YHB Investment Advisors Inc. raised its position in SunTrust Banks by 32.1% during the 4th quarter. YHB Investment Advisors Inc. now owns 72,870 shares of the financial services provider’s stock worth $3,676,000 after buying an additional 17,719 shares during the last quarter. Institutional investors own 81.14% of the company’s stock.

SunTrust Banks Company Profile

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.

See Also: Earnings Per Share (EPS)

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Earnings History and Estimates for SunTrust Banks (NYSE:STI)

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