SunTrust Banks, Inc. (NYSE:STI) – Research analysts at FIG Partners dropped their Q1 2018 earnings per share estimates for shares of SunTrust Banks in a research note issued to investors on Thursday, Zacks Investment Research reports. FIG Partners analyst C. Marinac now forecasts that the financial services provider will post earnings of $1.14 per share for the quarter, down from their prior estimate of $1.16. FIG Partners also issued estimates for SunTrust Banks’ Q4 2018 earnings at $1.30 EPS, Q2 2019 earnings at $1.34 EPS, Q3 2019 earnings at $1.38 EPS and Q4 2019 earnings at $1.39 EPS.
Other equities research analysts have also issued reports about the stock. Credit Suisse Group raised their price objective on shares of SunTrust Banks from $71.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods upgraded shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 12th. UBS Group upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $73.00 in a report on Tuesday, December 12th. BMO Capital Markets restated a “hold” rating and issued a $79.00 price objective on shares of SunTrust Banks in a report on Sunday, January 21st. Finally, Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Friday, January 5th. Sixteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $69.25.
Shares of SunTrust Banks (NYSE STI) traded down $1.21 on Monday, hitting $71.06. 2,894,508 shares of the stock were exchanged, compared to its average volume of 3,310,000. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $73.37. The firm has a market cap of $33,830.00, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 1.15 and a beta of 1.32. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.92.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the company posted $0.90 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC grew its position in SunTrust Banks by 107.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 843 shares during the last quarter. Advisory Services Network LLC grew its position in SunTrust Banks by 0.9% during the 2nd 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 last quarter. Icon Wealth Partners LLC purchased a new position in SunTrust Banks during the 4th quarter worth $156,000. Dupont Capital Management Corp grew its position in SunTrust Banks by 55.2% during the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 933 shares during the last quarter. Finally, Avestar Capital LLC purchased a new position in SunTrust Banks during the 4th quarter worth $162,000. 83.57% of the stock is currently owned by institutional investors.
In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 7,500 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $70.13, for a total transaction of $525,975.00. Following the transaction, the insider now directly owns 149,955 shares of the company’s stock, valued at approximately $10,516,344.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jerome T. Lienhard sold 29,248 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total transaction of $508,037.76. The disclosure for this sale can be found here. Insiders have sold a total of 40,348 shares of company stock worth $1,289,757 over the last quarter. 0.55% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.60 annualized dividend and a yield of 2.25%. SunTrust Banks’s dividend payout ratio is currently 41.56%.
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About SunTrust Banks
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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