Brokers Offer Predictions for SunTrust Banks, Inc.’s FY2017 Earnings (STI)
SunTrust Banks, Inc. (NYSE:STI) – B. Riley decreased their FY2017 earnings per share (EPS) estimates for SunTrust Banks in a report released on Thursday. B. Riley analyst S. Moss now anticipates that the financial services provider will earn $4.09 per share for the year, down from their previous forecast of $4.10. B. Riley also issued estimates for SunTrust Banks’ Q4 2017 earnings at $1.08 EPS, Q1 2018 earnings at $1.08 EPS, Q2 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.27 EPS, FY2018 earnings at $4.75 EPS, Q1 2019 earnings at $1.17 EPS, Q2 2019 earnings at $1.32 EPS, Q3 2019 earnings at $1.39 EPS, Q4 2019 earnings at $1.43 EPS and FY2019 earnings at $5.30 EPS.
A number of other equities analysts have also recently weighed in on STI. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Friday, September 22nd. Nomura upped 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. Instinet reaffirmed a “neutral” rating and set a $63.00 price target (up from $62.00) on shares of SunTrust Banks in a research note on Saturday, September 30th. Robert W. Baird reaffirmed a “hold” rating and set a $55.00 price target on shares of SunTrust Banks in a research note on Sunday, October 1st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $62.00 price objective on shares of SunTrust Banks in a research note on Tuesday, October 3rd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. SunTrust Banks presently has an average rating of “Hold” and a consensus target price of $67.88.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a $0.40 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.36%. SunTrust Banks’s dividend payout ratio (DPR) is 41.03%.
In other SunTrust Banks 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 value of $240,240.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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. 0.55% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Fiduciary Trust Co. purchased a new position in SunTrust Banks in the 2nd quarter valued at about $118,000. Advisory Services Network LLC lifted its holdings 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 valued at $121,000 after purchasing an additional 20 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in SunTrust Banks in the 2nd quarter valued at about $136,000. Tiedemann Wealth Management LLC lifted its holdings in 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 valued at $142,000 after purchasing an additional 2,920 shares in the last quarter. Finally, Dupont Capital Management Corp lifted its holdings in 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 valued at $157,000 after purchasing an additional 933 shares in 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.
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