SunTrust Banks, Inc. (NYSE:STI) – Analysts at FIG Partners upped their FY2017 EPS estimates for SunTrust Banks in a research note issued on Monday. FIG Partners analyst C. Marinac now anticipates that the financial services provider will post earnings per share of $4.07 for the year, up from their prior forecast of $4.02. FIG Partners also issued estimates for SunTrust Banks’ Q4 2017 earnings at $1.07 EPS and Q4 2018 earnings at $1.16 EPS.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.06. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. SunTrust Banks’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share.

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A number of other equities analysts have also recently issued reports on the company. Barclays PLC boosted their price objective on SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday. Morgan Stanley boosted their price objective on SunTrust Banks from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday. Raymond James Financial, Inc. cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday. Sandler O’Neill cut SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a report on Monday. Finally, Citigroup Inc. cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday. They noted that the move was a valuation call. Nineteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $63.13.

Shares of SunTrust Banks (NYSE:STI) opened at 59.49 on Tuesday. The firm has a 50-day moving average price of $57.70 and a 200 day moving average price of $56.50. The stock has a market cap of $28.65 billion, a price-to-earnings ratio of 15.82 and a beta of 1.31. SunTrust Banks has a 52 week low of $44.45 and a 52 week high of $61.69.

SunTrust Banks declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that allows the company to buyback $1.32 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, insider Susan S. Johnson sold 808 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $57.34, for a total value of $46,330.72. Following the completion of the transaction, the insider now directly owns 3,515 shares of the company’s stock, valued at approximately $201,550.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.55% of the company’s stock.

A number of large investors have recently made changes to their positions in STI. Guardian Life Insurance Co. of America increased its position in SunTrust Banks by 1.0% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,893 shares of the financial services provider’s stock valued at $105,000 after buying an additional 18 shares in the last quarter. Fiduciary Trust Co. acquired a new position in SunTrust Banks during the 2nd quarter valued at about $118,000. Advisory Services Network LLC increased 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 valued at $121,000 after buying an additional 20 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in SunTrust Banks during the 2nd quarter valued at about $136,000. Finally, Independent Portfolio Consultants Inc. increased its position in SunTrust Banks by 184.7% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,648 shares of the financial services provider’s stock valued at $150,000 after buying an additional 1,718 shares in the last quarter. 81.25% of the stock is currently owned by institutional investors.

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.

Earnings History and Estimates for SunTrust Banks (NYSE:STI)

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