SunTrust Banks, Inc. (NYSE:STI) – Investment analysts at Jefferies Financial Group reduced their FY2018 earnings per share estimates for SunTrust Banks in a report released on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will earn $5.51 per share for the year, down from their previous estimate of $5.58. Jefferies Financial Group currently has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for SunTrust Banks’ Q3 2019 earnings at $1.48 EPS.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Saturday, January 5th. Edward Jones upgraded SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. B. Riley set a $79.00 price target on SunTrust Banks and gave the company a “buy” rating in a report on Monday, October 15th. BMO Capital Markets reduced their price target on SunTrust Banks from $74.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, October 22nd. Finally, Credit Suisse Group reduced their price target on SunTrust Banks from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, December 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $74.08.
Shares of NYSE:STI opened at $55.77 on Thursday. SunTrust Banks has a 1 year low of $46.05 and a 1 year high of $75.08. The stock has a market cap of $24.92 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.17. SunTrust Banks had a return on equity of 11.66% and a net margin of 28.17%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business earned $1.06 EPS. SunTrust Banks’s revenue was down .8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Shareholders of record on Friday, November 30th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, November 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.59%. SunTrust Banks’s dividend payout ratio (DPR) is 49.50%.
Several hedge funds have recently bought and sold shares of STI. BB&T Securities LLC grew its holdings in shares of SunTrust Banks by 3.4% during the 2nd quarter. BB&T Securities LLC now owns 34,772 shares of the financial services provider’s stock worth $2,295,000 after acquiring an additional 1,142 shares during the period. First Republic Investment Management Inc. boosted its position in shares of SunTrust Banks by 31.6% in the 2nd quarter. First Republic Investment Management Inc. now owns 55,652 shares of the financial services provider’s stock worth $3,674,000 after purchasing an additional 13,372 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of SunTrust Banks by 68.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,721 shares of the financial services provider’s stock worth $642,000 after purchasing an additional 3,941 shares in the last quarter. BRYN MAWR TRUST Co bought a new stake in shares of SunTrust Banks in the 2nd quarter worth approximately $342,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of SunTrust Banks in the 2nd quarter worth approximately $134,000. Hedge funds and other institutional investors own 82.60% of the company’s stock.
About SunTrust Banks
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.
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