Wall Street analysts expect SunTrust Banks, Inc. (NYSE:STI) to report earnings of $1.40 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for SunTrust Banks’ earnings, with the lowest EPS estimate coming in at $1.33 and the highest estimate coming in at $1.48. SunTrust Banks posted earnings per share of $1.42 in the same quarter last year, which would indicate a negative year over year growth rate of 1.4%. The company is expected to announce its next quarterly earnings report on Friday, October 18th.
On average, analysts expect that SunTrust Banks will report full year earnings of $5.51 per share for the current fiscal year, with EPS estimates ranging from $5.41 to $5.65. For the next financial year, analysts expect that the company will post earnings of $5.42 per share, with EPS estimates ranging from $4.68 to $5.90. Zacks’ EPS calculations are an average based on a survey of research firms that follow SunTrust Banks.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. SunTrust Banks had a net margin of 23.92% and a return on equity of 11.86%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the business earned $1.49 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year.
STI has been the topic of a number of recent research reports. Argus set a $81.00 price target on shares of SunTrust Banks and gave the stock a “buy” rating in a research report on Friday, July 19th. ValuEngine raised shares of SunTrust Banks from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $69.45.
Shares of SunTrust Banks stock traded down $1.88 during trading hours on Friday, reaching $59.05. The company’s stock had a trading volume of 1,919,283 shares, compared to its average volume of 2,851,946. The company’s 50 day simple moving average is $63.27 and its 200 day simple moving average is $63.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.97 and a current ratio of 0.98. SunTrust Banks has a one year low of $46.05 and a one year high of $75.02. The stock has a market cap of $27.05 billion, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.56 per share. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, August 29th. This represents a $2.24 annualized dividend and a yield of 3.79%. SunTrust Banks’s dividend payout ratio (DPR) is presently 35.09%.
In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 20,973 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $65.21, for a total transaction of $1,367,649.33. Following the transaction, the insider now owns 246,630 shares of the company’s stock, valued at approximately $16,082,742.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ellen Koebler sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $60.84, for a total transaction of $243,360.00. Following the transaction, the insider now directly owns 1 shares in the company, valued at approximately $60.84. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. MRA Associates USA LLC acquired a new position in shares of SunTrust Banks in the 2nd quarter worth approximately $25,000. CNB Bank grew its stake in shares of SunTrust Banks by 790.0% in the 1st quarter. CNB Bank now owns 445 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 395 shares during the last quarter. Icon Wealth Partners LLC acquired a new position in shares of SunTrust Banks in the 1st quarter worth approximately $30,000. Manchester Financial Inc. acquired a new position in shares of SunTrust Banks in the 2nd quarter worth approximately $34,000. Finally, Berman Capital Advisors LLC grew its stake in shares of SunTrust Banks by 49.6% in the 1st quarter. Berman Capital Advisors LLC now owns 606 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 201 shares during the last quarter. 80.32% 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, 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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