Equities Analysts Offer Predictions for SunTrust Banks, Inc.’s FY2018 Earnings (STI)
SunTrust Banks, Inc. (NYSE:STI) – Oppenheimer Holdings dropped their FY2018 earnings estimates for shares of SunTrust Banks in a report released on Sunday. Oppenheimer Holdings analyst B. Chittenden now expects that the financial services provider will post earnings of $4.39 per share for the year, down from their previous estimate of $4.41. Oppenheimer Holdings currently has a “Hold” rating on the stock.
Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 price target on shares of SunTrust Banks in a report on Friday, May 5th. BidaskClub upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Wedbush upgraded shares of SunTrust Banks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $63.00 in a report on Monday, May 1st. FBR & Co set a $65.00 price target on shares of SunTrust Banks and gave the company a “buy” rating in a report on Monday, April 24th. Finally, Zacks Investment Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $57.15.
SunTrust Banks (STI) traded down 0.24% during midday trading on Tuesday, hitting $57.41. 1,683,012 shares of the stock were exchanged. The company’s 50 day moving average is $55.13 and its 200-day moving average is $56.32. The stock has a market cap of $27.88 billion, a PE ratio of 15.64 and a beta of 1.33. SunTrust Banks has a 1-year low of $41.07 and a 1-year high of $61.69.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, April 21st. The financial services provider reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.07. SunTrust Banks had a net margin of 20.32% and a return on equity of 8.14%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, May 26th. SunTrust Banks’s dividend payout ratio is presently 28.42%.
Institutional investors have recently bought and sold shares of the company. Whittier Trust Co. raised its position in SunTrust Banks by 3.1% in the first quarter. Whittier Trust Co. now owns 1,909 shares of the financial services provider’s stock valued at $105,000 after buying an additional 58 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of SunTrust Banks by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 1,893 shares of the financial services provider’s stock worth $105,000 after buying an additional 18 shares during the period. Advisory Services Network LLC acquired a new position in shares of SunTrust Banks during the first quarter worth $117,000. Bronfman E.L. Rothschild L.P. raised its position in shares of SunTrust Banks by 9.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,269 shares of the financial services provider’s stock worth $125,000 after buying an additional 192 shares during the period. Finally, Independent Portfolio Consultants Inc. raised its position in shares of SunTrust Banks by 184.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,648 shares of the financial services provider’s stock worth $150,000 after buying an additional 1,718 shares during the period. 82.40% of the stock is owned by hedge funds and other institutional investors.
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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