FBR & Co Weighs in on SunTrust Banks Inc.’s Q1 2018 Earnings (STI)
SunTrust Banks Inc. (NYSE:STI) – Equities research analysts at FBR & Co issued their Q1 2018 earnings estimates for SunTrust Banks in a research report issued on Monday. FBR & Co analyst S. Moss anticipates that the firm will post earnings of $0.91 per share for the quarter. FBR & Co currently has a “Outperform” rating and a $49.00 target price on the stock. FBR & Co also issued estimates for SunTrust Banks’ Q2 2018 earnings at $1.03 EPS, Q3 2018 earnings at $1.04 EPS and FY2018 earnings at $4.00 EPS.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company earned $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. SunTrust Banks’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share.
A number of other analysts have also recently commented on STI. Nomura reaffirmed a “hold” rating on shares of SunTrust Banks in a research report on Saturday, July 9th. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, September 21st. Deutsche Bank AG reaffirmed a “buy” rating on shares of SunTrust Banks in a research report on Wednesday, June 15th. Compass Point lifted their price target on SunTrust Banks from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 26th. Finally, Credit Agricole SA lifted their price target on SunTrust Banks from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $44.91.
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SunTrust Banks (NYSE:STI) traded down 2.06% during mid-day trading on Thursday, reaching $44.76. The company had a trading volume of 4,218,391 shares. SunTrust Banks has a 52 week low of $31.07 and a 52 week high of $46.47. The firm has a market capitalization of $22.44 billion, a PE ratio of 12.12 and a beta of 1.31. The stock’s 50-day moving average price is $44.04 and its 200 day moving average price is $41.90.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STI. Pictet Asset Management Ltd. boosted its position in SunTrust Banks by 1.8% in the first quarter. Pictet Asset Management Ltd. now owns 274,793 shares of the financial services provider’s stock worth $9,118,000 after buying an additional 4,900 shares during the period. Scotia Capital Inc. boosted its position in SunTrust Banks by 57.4% in the first quarter. Scotia Capital Inc. now owns 14,835 shares of the financial services provider’s stock worth $536,000 after buying an additional 5,410 shares during the period. Rafferty Asset Management LLC boosted its position in SunTrust Banks by 40.5% in the first quarter. Rafferty Asset Management LLC now owns 81,773 shares of the financial services provider’s stock worth $2,950,000 after buying an additional 23,570 shares during the period. Pegasus Partners Ltd. purchased a new position in SunTrust Banks during the first quarter worth approximately $574,000. Finally, BB&T Securities LLC boosted its position in SunTrust Banks by 19.9% in the first quarter. BB&T Securities LLC now owns 19,611 shares of the financial services provider’s stock worth $707,000 after buying an additional 3,252 shares during the period. Institutional investors own 82.37% of the company’s stock.
In other SunTrust Banks news, insider Susan S. Johnson sold 1,118 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total transaction of $47,403.20. Following the transaction, the insider now directly owns 1,119 shares in the company, valued at $47,445.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 29th. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.32%. SunTrust Banks’s dividend payout ratio is currently 28.18%.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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