SunTrust Banks, Inc. (NYSE:STI) Expected to Announce Earnings of $1.40 Per Share

Wall Street brokerages forecast that SunTrust Banks, Inc. (NYSE:STI) will report $1.40 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for SunTrust Banks’ earnings. The highest EPS estimate is $1.48 and the lowest is $1.34. SunTrust Banks reported earnings of $1.42 per share during the same quarter last year, which would indicate a negative year over year growth rate of 1.4%. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, October 17th.

On average, analysts expect that SunTrust Banks will report full-year earnings of $5.52 per share for the current year, with EPS estimates ranging from $5.45 to $5.64. For the next financial year, analysts expect that the company will report earnings of $5.35 per share, with EPS estimates ranging from $4.66 to $5.90. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for SunTrust Banks.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The company had revenue of $2.56 billion during 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 firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 earnings per share.

STI has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $75.00 in a research report on Tuesday. UBS Group lifted their target price on shares of SunTrust Banks from $68.00 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Finally, Argus set a $81.00 target price on shares of SunTrust Banks and gave the stock a “buy” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. SunTrust Banks presently has an average rating of “Hold” and an average price target of $68.95.

In other news, insider Ellen Koebler sold 4,000 shares of SunTrust Banks stock in a transaction on 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 owns 1 shares in the company, valued at approximately $60.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Mark A. Chancy sold 20,973 shares of SunTrust Banks stock in a transaction on Monday, July 22nd. The stock was 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 in the company, valued at approximately $16,082,742.30. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. MRA Associates USA LLC purchased a new position in shares of SunTrust Banks during the 2nd quarter valued at $25,000. Manchester Financial Inc. purchased a new position in shares of SunTrust Banks during the 2nd quarter valued at $34,000. Burt Wealth Advisors purchased a new position in shares of SunTrust Banks during the 2nd quarter valued at $43,000. Private Capital Group LLC lifted its stake in shares of SunTrust Banks by 60.0% during the 2nd quarter. Private Capital Group LLC now owns 664 shares of the financial services provider’s stock valued at $44,000 after buying an additional 249 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of SunTrust Banks by 131.7% during the 2nd quarter. CWM LLC now owns 709 shares of the financial services provider’s stock valued at $45,000 after buying an additional 403 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Shares of STI traded up $0.32 on Thursday, hitting $66.11. 108,144 shares of the stock traded hands, compared to its average volume of 2,823,147. The company has a market capitalization of $29.21 billion, a PE ratio of 11.59, a P/E/G ratio of 1.49 and a beta of 1.53. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.97 and a current ratio of 0.98. The business has a 50 day simple moving average of $64.87 and a 200 day simple moving average of $63.29. SunTrust Banks has a one year low of $46.05 and a one year high of $69.57.

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.50. SunTrust Banks’s payout ratio is 39.30%.

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.

Featured Story: What are Bollinger Bands?

Get a free copy of the Zacks research report on SunTrust Banks (STI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for SunTrust Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks and related companies with MarketBeat.com's FREE daily email newsletter.