SunTrust Banks, Inc. Expected to Earn Q1 2018 Earnings of $1.06 Per Share (STI)
SunTrust Banks, Inc. (NYSE:STI) – Equities researchers at Oppenheimer issued their Q1 2018 earnings per share (EPS) estimates for SunTrust Banks in a research report issued on Tuesday. Oppenheimer analyst B. Chittenden expects that the financial services provider will post earnings of $1.06 per share for the quarter. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for SunTrust Banks’ Q2 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.32 EPS, Q4 2018 earnings at $1.32 EPS and FY2018 earnings at $4.88 EPS.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the company posted $0.91 EPS. SunTrust Banks’s revenue for the quarter was up 3.7% on a year-over-year basis.
Shares of SunTrust Banks (STI) opened at $65.68 on Thursday. SunTrust Banks has a 52 week low of $51.96 and a 52 week high of $66.62. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $31,270.00, a PE ratio of 16.84, a PEG ratio of 1.58 and a beta of 1.29.
Large investors have recently made changes to their positions in the company. Fiduciary Trust Co. bought a new position in shares of SunTrust Banks in the 2nd quarter worth approximately $118,000. Advisory Services Network LLC raised its position in shares of SunTrust Banks by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in shares of SunTrust Banks in the 2nd quarter worth approximately $136,000. Tiedemann Wealth Management LLC raised its position in shares of SunTrust Banks by 12.1% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 2,920 shares in the last quarter. Finally, Dupont Capital Management Corp grew its stake in shares of SunTrust Banks by 55.2% in the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after buying an additional 933 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.
In other news, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total value of $72,006.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Wednesday, November 29th. SunTrust Banks’s payout ratio is 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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