SunTrust Banks, Inc. (NYSE:STI) – Investment analysts at Jefferies Group dropped their FY2017 earnings per share estimates for SunTrust Banks in a research note issued to investors on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will earn $4.03 per share for the year, down from their previous forecast of $4.05. Jefferies Group has a “Buy” rating and a $69.00 price objective on the stock.
A number of other equities analysts have also recently commented on the company. Vining Sparks reiterated a “buy” rating and issued a $85.00 target price on shares of SunTrust Banks in a report on Monday, January 8th. Morgan Stanley upgraded SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 target price for the company in a report on Monday, January 8th. Credit Suisse Group reiterated a “hold” rating and issued a $68.00 target price on shares of SunTrust Banks in a report on Thursday, January 4th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Friday, January 5th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $74.00 target price on shares of SunTrust Banks in a report on Thursday, January 4th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. SunTrust Banks has an average rating of “Hold” and a consensus target price of $67.88.
SunTrust Banks (NYSE STI) opened at $68.89 on Friday. The company has a market capitalization of $32,790.00, a P/E ratio of 17.66, a PEG ratio of 1.34 and a beta of 1.29. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. SunTrust Banks has a 1-year low of $51.96 and a 1-year high of $68.95.
SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.06. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Wednesday, November 29th. SunTrust Banks’s payout ratio is currently 41.03%.
In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the business. Pointe Capital Management LLC purchased a new stake in shares of SunTrust Banks in the 4th quarter worth $313,000. New England Research & Management Inc. purchased a new stake in shares of SunTrust Banks in the 4th quarter worth $723,000. Copper Rock Capital Partners LLC lifted its holdings in shares of SunTrust Banks by 48.4% in the 4th quarter. Copper Rock Capital Partners LLC now owns 135,293 shares of the financial services provider’s stock worth $8,854,000 after buying an additional 44,110 shares during the period. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of SunTrust Banks in the 4th quarter worth $210,000. Finally, Abner Herrman & Brock LLC lifted its holdings in shares of SunTrust Banks by 1.0% in the 4th quarter. Abner Herrman & Brock LLC now owns 166,804 shares of the financial services provider’s stock worth $10,774,000 after buying an additional 1,580 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.
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SunTrust Banks Company Profile
SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.
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