Brokerages expect that SunTrust Banks, Inc. (NYSE:STI) will report $1.05 earnings per share for the current quarter, Zacks reports. Eight analysts have provided estimates for SunTrust Banks’ earnings, with the lowest EPS estimate coming in at $0.98 and the highest estimate coming in at $1.09. SunTrust Banks reported earnings per share of $0.90 during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.7%. The firm is expected to issue its next quarterly earnings results on Friday, January 19th.
On average, analysts expect that SunTrust Banks will report full-year earnings of $4.06 per share for the current year, with EPS estimates ranging from $4.01 to $4.12. For the next fiscal year, analysts forecast that the company will report earnings of $4.39 per share, with EPS estimates ranging from $4.18 to $4.56. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow SunTrust Banks.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year.
Several analysts have weighed in on the stock. UBS lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Piper Jaffray Companies reiterated a “buy” rating and set a $63.00 target price on shares of SunTrust Banks in a research note on Monday, August 28th. Sandler O’Neill lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research note on Monday, October 23rd. Raymond James Financial lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Finally, Instinet reiterated a “neutral” rating and set a $63.00 target price (up previously from $62.00) on shares of SunTrust Banks in a research note on Saturday, September 30th. Seventeen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $63.97.
In related news, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Fiduciary Trust Co. acquired a new stake in SunTrust Banks in the second quarter worth about $118,000. Advisory Services Network LLC lifted its holdings in SunTrust Banks by 0.9% in the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 20 shares during the period. Westwood Holdings Group Inc. acquired a new stake in SunTrust Banks in the 2nd quarter valued at about $136,000. Dupont Capital Management Corp lifted its holdings in SunTrust Banks by 55.2% in the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 933 shares during the last quarter. Finally, Blue Granite Capital LLC acquired a new stake in SunTrust Banks in the 3rd quarter valued at about $177,000. 80.82% of the stock is owned by institutional investors and hedge funds.
SunTrust Banks (NYSE STI) traded down $0.33 during mid-day trading on Friday, reaching $64.03. 5,172,700 shares of the company’s stock traded hands, compared to its average volume of 3,378,156. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. SunTrust Banks has a 12-month low of $51.96 and a 12-month high of $64.81. The company has a market capitalization of $30,637.50, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.73 and a beta of 1.29.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.50%. SunTrust Banks’s dividend payout ratio is currently 41.03%.
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SunTrust Banks Company Profile
SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.
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