SunTrust Banks (STI) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

SunTrust Banks (NYSE:STI) announced its quarterly earnings results on Friday. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04, Bloomberg Earnings reports. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis.

Shares of SunTrust Banks (NYSE:STI) opened at $67.94 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market capitalization of $32,340.00, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. SunTrust Banks has a 12-month low of $51.96 and a 12-month high of $69.56.

Several equities analysts have recently commented on STI shares. Credit Suisse Group raised SunTrust Banks from an “underperform” rating to a “neutral” rating and upped their price target for the company from $56.00 to $60.00 in a research note on Monday, October 9th. Barclays increased their target price on SunTrust Banks from $68.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Morgan Stanley raised SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 target price on the stock in a research note on Monday, January 8th. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday, December 26th. Finally, Raymond James Financial lowered SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. SunTrust Banks has an average rating of “Hold” and an average target price of $67.88.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was 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 is available at this link. Also, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction dated Tuesday, November 7th. The shares were 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 owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Thrivent Financial For Lutherans increased its holdings in shares of SunTrust Banks by 1.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 18,320 shares of the financial services provider’s stock valued at $1,039,000 after acquiring an additional 310 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of SunTrust Banks by 2.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 92,856 shares of the financial services provider’s stock valued at $5,267,000 after acquiring an additional 2,188 shares during the last quarter. Quantitative Investment Management LLC increased its holdings in shares of SunTrust Banks by 2.8% in the 2nd quarter. Quantitative Investment Management LLC now owns 123,300 shares of the financial services provider’s stock valued at $6,993,000 after acquiring an additional 3,300 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of SunTrust Banks by 4.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,377,172 shares of the financial services provider’s stock valued at $78,113,000 after acquiring an additional 55,820 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of SunTrust Banks by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,947,441 shares of the financial services provider’s stock valued at $1,868,780,000 after acquiring an additional 227,501 shares during the last quarter. 80.71% of the stock is currently owned by institutional investors.

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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.

Earnings History for SunTrust Banks (NYSE:STI)

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