Brokers Offer Predictions for SunTrust Banks, Inc.’s FY2019 Earnings (STI)

SunTrust Banks, Inc. (NYSE:STI) – Analysts at Oppenheimer issued their FY2019 earnings per share (EPS) estimates for SunTrust Banks in a research report issued on Tuesday. Oppenheimer analyst B. Chittenden anticipates that the financial services provider will post earnings per share of $5.56 for the year. Oppenheimer currently has a “Hold” rating on the stock.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS.

Several other analysts have also recently commented on STI. Nomura boosted their price target on shares of SunTrust Banks from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, September 28th. Goldman Sachs Group reiterated a “buy” rating and issued a $74.00 price target on shares of SunTrust Banks in a research note on Thursday. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Friday. Credit Suisse Group reiterated a “hold” rating and issued a $68.00 price target on shares of SunTrust Banks in a research note on Thursday. Finally, Robert W. Baird reiterated a “hold” rating and issued a $55.00 price target on shares of SunTrust Banks in a research note on Sunday, October 1st. Fifteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $66.97.

Shares of SunTrust Banks (NYSE STI) traded up $0.18 during mid-day trading on Friday, reaching $65.86. 5,825,600 shares of the company’s stock traded hands, compared to its average volume of 4,601,800. The stock has a market cap of $31,110.00, a PE ratio of 16.89, a P/E/G ratio of 1.58 and a beta of 1.29. SunTrust Banks has a 1-year low of $51.96 and a 1-year high of $67.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. SunTrust Banks’s dividend payout ratio (DPR) is presently 41.03%.

In related news, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total transaction of $240,240.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were 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 large investors have recently modified their holdings of STI. Capital World Investors grew its holdings in SunTrust Banks by 20.7% during the 2nd quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock valued at $1,673,982,000 after purchasing an additional 5,056,000 shares during the last quarter. Janus Henderson Group PLC grew its holdings in SunTrust Banks by 3,033.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,006,553 shares of the financial services provider’s stock valued at $113,812,000 after purchasing an additional 1,942,524 shares during the last quarter. Lazard Asset Management LLC grew its holdings in SunTrust Banks by 3,009.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,938,443 shares of the financial services provider’s stock valued at $109,948,000 after purchasing an additional 1,876,101 shares during the last quarter. American Century Companies Inc. grew its holdings in SunTrust Banks by 31.4% during the 3rd quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock valued at $435,947,000 after purchasing an additional 1,742,756 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in SunTrust Banks by 70.6% during the 2nd 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 purchasing an additional 1,462,517 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

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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.

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

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