Wall Street analysts expect SunTrust Banks, Inc. (NYSE:STI) to report sales of $2.29 billion for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for SunTrust Banks’ earnings. The highest sales estimate is $2.32 billion and the lowest is $2.25 billion. SunTrust Banks posted sales of $2.16 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6%. The firm is expected to announce its next earnings report on Friday, January 19th.
According to Zacks, analysts expect that SunTrust Banks will report full year sales of $2.29 billion for the current year, with estimates ranging from $8.93 billion to $9.15 billion. For the next financial year, analysts forecast that the business will report sales of $9.40 billion per share, with estimates ranging from $9.28 billion to $9.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover SunTrust Banks.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share.
In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of SunTrust Banks stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in STI. Capital World Investors boosted its holdings in SunTrust Banks by 20.7% in the second quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock worth $1,673,982,000 after purchasing an additional 5,056,000 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of SunTrust Banks by 3,033.8% during the second quarter. Janus Henderson Group PLC now owns 2,006,553 shares of the financial services provider’s stock valued at $113,812,000 after acquiring an additional 1,942,524 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of SunTrust Banks by 3,009.4% during the second quarter. Lazard Asset Management LLC now owns 1,938,443 shares of the financial services provider’s stock valued at $109,948,000 after acquiring an additional 1,876,101 shares during the period. American Century Companies Inc. boosted its holdings in shares of SunTrust Banks by 31.4% during the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock valued at $435,947,000 after acquiring an additional 1,742,756 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of SunTrust Banks by 70.6% during the second quarter. TIAA CREF Investment Management LLC now owns 3,534,925 shares of the financial services provider’s stock valued at $200,501,000 after acquiring an additional 1,462,517 shares during the period. 80.82% of the stock is owned by hedge funds and other institutional investors.
SunTrust Banks (NYSE:STI) traded up $2.39 on Tuesday, hitting $64.36. 6,154,800 shares of the stock were exchanged, compared to its average volume of 3,370,455. The stock has a market capitalization of $29,499.78, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.67 and a beta of 1.29. SunTrust Banks has a 12 month low of $51.96 and a 12 month high of $64.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.49%. SunTrust Banks’s dividend payout ratio (DPR) is presently 41.03%.
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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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