Brokerages Expect SunTrust Banks (STI) Will Post Earnings of $1.29 Per Share

Analysts expect SunTrust Banks (NYSE:STI) to announce $1.29 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for SunTrust Banks’ earnings. The highest EPS estimate is $1.34 and the lowest is $1.25. SunTrust Banks posted earnings of $1.03 per share in the same quarter last year, which suggests a positive year over year growth rate of 25.2%. The firm is expected to issue its next earnings report on Friday, July 20th.

According to Zacks, analysts expect that SunTrust Banks will report full-year earnings of $5.28 per share for the current year, with EPS estimates ranging from $4.98 to $5.43. For the next financial year, analysts expect that the company will report earnings of $5.61 per share, with EPS estimates ranging from $5.39 to $5.95. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for SunTrust Banks.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.18. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.29 billion. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share.

Several equities research analysts recently weighed in on STI shares. Morgan Stanley upped their price target on SunTrust Banks from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Credit Suisse Group reaffirmed a “hold” rating and issued a $71.00 price target on shares of SunTrust Banks in a research note on Monday, February 26th. Zacks Investment Research cut SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. ValuEngine raised SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 price target on shares of SunTrust Banks in a research note on Thursday, April 5th. Eighteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. SunTrust Banks presently has a consensus rating of “Hold” and an average target price of $70.50.

STI stock traded down $0.27 during midday trading on Tuesday, hitting $68.96. The stock had a trading volume of 1,974,419 shares, compared to its average volume of 2,231,164. The stock has a market cap of $32.05 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.01 and a beta of 1.33. SunTrust Banks has a 52-week low of $51.96 and a 52-week high of $73.37. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.48.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Wednesday, May 30th. SunTrust Banks’s payout ratio is currently 39.60%.

In other news, Director Agnes Bundy Scanlan sold 1,500 shares of the company’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $67.35, for a total transaction of $101,025.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven C. Voorhees purchased 6,000 shares of the stock in a transaction dated Friday, May 4th. The shares were acquired at an average cost of $65.96 per share, for a total transaction of $395,760.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $659,600. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 21,250 shares of company stock worth $1,464,300. Corporate insiders own 0.52% of the company’s stock.

Several large investors have recently made changes to their positions in STI. Schwab Charles Investment Management Inc. lifted its holdings in SunTrust Banks by 3.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,658,745 shares of the financial services provider’s stock valued at $107,139,000 after acquiring an additional 51,904 shares during the period. Acadian Asset Management LLC lifted its holdings in SunTrust Banks by 97.9% in the fourth quarter. Acadian Asset Management LLC now owns 5,148 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 2,547 shares during the period. State of Alaska Department of Revenue lifted its holdings in SunTrust Banks by 148.1% in the fourth quarter. State of Alaska Department of Revenue now owns 52,066 shares of the financial services provider’s stock valued at $3,362,000 after acquiring an additional 31,077 shares during the period. Partnervest Advisory Services LLC lifted its holdings in SunTrust Banks by 20.8% in the fourth quarter. Partnervest Advisory Services LLC now owns 7,002 shares of the financial services provider’s stock valued at $452,000 after acquiring an additional 1,206 shares during the period. Finally, Strs Ohio increased its position in SunTrust Banks by 1.4% in the fourth quarter. Strs Ohio now owns 326,848 shares of the financial services provider’s stock worth $21,111,000 after buying an additional 4,474 shares in the last quarter. 83.68% of the stock is currently owned by hedge funds and other institutional investors.

About SunTrust Banks

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through 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.

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

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