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.
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