Analysts Anticipate SunTrust Banks, Inc. (STI) to Post $1.06 Earnings Per Share

Analysts expect SunTrust Banks, Inc. (NYSE:STI) to post earnings per share of $1.06 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for SunTrust Banks’ earnings. The highest EPS estimate is $1.09 and the lowest is $0.98. SunTrust Banks reported earnings of $0.90 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 17.8%. The firm is scheduled to issue its next earnings report before the market opens on Friday, January 19th.

According to Zacks, analysts expect that SunTrust Banks will report full year earnings of $4.07 per share for the current year, with EPS estimates ranging from $4.01 to $4.10. For the next year, analysts anticipate that the company will post earnings of $4.56 per share, with EPS estimates ranging from $4.18 to $5.09. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for SunTrust Banks.

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

STI has been the subject of several analyst reports. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Friday, September 22nd. Nomura raised their price objective on shares of SunTrust Banks from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, September 28th. Instinet reaffirmed a “neutral” rating and issued a $63.00 price objective (up from $62.00) on shares of SunTrust Banks in a report on Saturday, September 30th. Robert W. Baird reissued a “hold” rating and issued a $55.00 price target on shares of SunTrust Banks in a report on Sunday, October 1st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $62.00 price target on shares of SunTrust Banks in a report on Tuesday, October 3rd. Fifteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $66.97.

In related news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of SunTrust Banks stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Large investors have recently modified their holdings of the stock. Fiduciary Trust Co. purchased a new position in SunTrust Banks in the 2nd quarter worth $118,000. Advisory Services Network LLC raised its position in 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 purchasing an additional 20 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of SunTrust Banks in the second quarter valued at about $136,000. Dupont Capital Management Corp increased its position in shares of SunTrust Banks by 55.2% in the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 933 shares during the period. Finally, Blue Granite Capital LLC purchased a new position in shares of SunTrust Banks in the third quarter valued at about $177,000. Institutional investors own 80.69% of the company’s stock.

SunTrust Banks (NYSE:STI) traded up $0.05 on Friday, reaching $65.91. 4,718,866 shares of the company traded hands, compared to its average volume of 3,606,884. The company has a market cap of $31,351.55, a P/E ratio of 16.90, a PEG ratio of 1.58 and a beta of 1.29. SunTrust Banks has a 52 week low of $51.96 and a 52 week 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 business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Wednesday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is currently 41.03%.

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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.

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

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