SunTrust Banks, Inc. (NYSE:STI) – B. Riley lowered their FY2017 EPS estimates for SunTrust Banks in a report issued on Thursday. B. Riley analyst S. Moss now expects that the financial services provider will post earnings of $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.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year.
Several other research firms have also commented on STI. Vining Sparks reaffirmed a “buy” rating and set a $85.00 price target on shares of SunTrust Banks in a research report on Monday, January 8th. Morgan Stanley raised shares of SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price target for the company in a research report on Monday, January 8th. Credit Suisse Group reaffirmed a “hold” rating and set a $68.00 price target on shares of SunTrust Banks in a research report on Thursday, January 4th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Friday, January 5th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $74.00 price target on shares of SunTrust Banks in a research report on Thursday, January 4th. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $67.88.
Shares of SunTrust Banks (STI) opened at $68.89 on Friday. SunTrust Banks has a 52-week low of $51.96 and a 52-week high of $68.95. The company has a market cap of $32,790.00, a PE ratio of 17.66, a PEG ratio of 1.58 and a beta of 1.29. 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 declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.60 annualized dividend and a yield of 2.32%. SunTrust Banks’s payout ratio is 41.03%.
In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s 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 disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.
A number of hedge funds have recently bought and sold shares of STI. Fiduciary Trust Co. bought a new position in SunTrust Banks in the 2nd quarter worth approximately $118,000. Advisory Services Network LLC boosted its stake 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. bought a new position in SunTrust Banks in the 2nd quarter worth approximately $136,000. Tiedemann Wealth Management LLC boosted its stake 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 worth $142,000 after purchasing an additional 2,920 shares during the period. Finally, Dupont Capital Management Corp boosted its stake 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 worth $157,000 after purchasing an additional 933 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.
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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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