SunTrust Banks (NYSE:STI) announced its earnings results on Thursday. The financial services provider reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02, Morningstar.com reports. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.39 billion. SunTrust Banks had a net margin of 23.92% and a return on equity of 11.86%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $1.49 EPS.
NYSE:STI opened at $65.39 on Friday. The company has a market capitalization of $29.02 billion, a PE ratio of 11.41, a P/E/G ratio of 1.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.98. The business’s 50-day moving average price is $63.22. SunTrust Banks has a 1-year low of $46.05 and a 1-year high of $75.08.
Several brokerages have commented on STI. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, Morgan Stanley downgraded shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $70.65.
In other news, insider Robert Ryan Richards sold 1,844 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $62.58, for a total transaction of $115,397.52. Following the sale, the insider now directly owns 2,083 shares in the company, valued at $130,354.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jorge Arrieta sold 6,606 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $63.46, for a total value of $419,216.76. Following the completion of the sale, the executive vice president now owns 2,556 shares in the company, valued at $162,203.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,332 shares of company stock worth $3,177,368. Company insiders own 0.42% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Moors & Cabot Inc. boosted its holdings in SunTrust Banks by 52.1% in the first quarter. Moors & Cabot Inc. now owns 7,946 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 2,723 shares during the last quarter. Toronto Dominion Bank boosted its holdings in SunTrust Banks by 15.6% in the first quarter. Toronto Dominion Bank now owns 290,422 shares of the financial services provider’s stock valued at $17,203,000 after acquiring an additional 39,143 shares during the last quarter. Kessler Investment Group LLC boosted its holdings in SunTrust Banks by 64.0% in the first quarter. Kessler Investment Group LLC now owns 1,048 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 409 shares during the last quarter. Rowland & Co. Investment Counsel ADV boosted its holdings in SunTrust Banks by 0.5% in the first quarter. Rowland & Co. Investment Counsel ADV now owns 66,428 shares of the financial services provider’s stock valued at $3,936,000 after acquiring an additional 358 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in SunTrust Banks by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,707,722 shares of the financial services provider’s stock valued at $86,137,000 after acquiring an additional 39,448 shares during the last quarter. Institutional investors and hedge funds own 80.21% 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.
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