Brokerages Anticipate SunTrust Banks, Inc. (STI) to Post $1.49 Earnings Per Share

Analysts forecast that SunTrust Banks, Inc. (NYSE:STI) will post earnings per share (EPS) of $1.49 for the current quarter, Zacks reports. Seven analysts have made estimates for SunTrust Banks’ earnings. The lowest EPS estimate is $1.40 and the highest is $1.67. SunTrust Banks also posted earnings per share of $1.49 during the same quarter last year. The company is scheduled to announce its next quarterly earnings report on Friday, July 19th.

On average, analysts expect that SunTrust Banks will report full-year earnings of $5.78 per share for the current financial year, with EPS estimates ranging from $5.43 to $6.26. For the next financial year, analysts forecast that the business will report earnings of $5.93 per share, with EPS estimates ranging from $5.52 to $6.35. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow SunTrust Banks.

SunTrust Banks (NYSE:STI) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.04. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.34 billion. SunTrust Banks had a net margin of 25.26% and a return on equity of 12.22%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS.

A number of research firms have recently issued reports on STI. ValuEngine upgraded shares of SunTrust Banks from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Jefferies Financial Group cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Sanford C. Bernstein cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 target price for the company. in a report on Friday, February 8th. Sandler O’Neill cut shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $69.00 target price for the company. in a report on Friday, February 8th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of SunTrust Banks in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $70.65.

In related news, Vice Chairman Mark A. Chancy sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total transaction of $653,800.00. Following the transaction, the insider now directly owns 205,846 shares in the company, valued at $13,458,211.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 41,882 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $63.10, for a total transaction of $2,642,754.20. Following the transaction, the insider now owns 228,130 shares in the company, valued at $14,395,003. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,488 shares of company stock worth $3,980,771. 0.42% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Liberty Wealth Management LLC purchased a new stake in SunTrust Banks during the 4th quarter worth approximately $26,000. CNB Bank grew its holdings in SunTrust Banks by 790.0% during the 1st quarter. CNB Bank now owns 445 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 395 shares in the last quarter. Sontag Advisory LLC acquired a new position in SunTrust Banks during the 4th quarter worth approximately $27,000. Resources Investment Advisors Inc. grew its holdings in SunTrust Banks by 465.0% during the 4th quarter. Resources Investment Advisors Inc. now owns 565 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 465 shares in the last quarter. Finally, Capital Investment Advisory Services LLC acquired a new position in SunTrust Banks during the 4th quarter worth approximately $30,000. 79.81% of the stock is currently owned by institutional investors.

STI stock traded down $0.22 during mid-day trading on Friday, reaching $63.65. The company had a trading volume of 36,508 shares, compared to its average volume of 4,232,134. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $28.31 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.43 and a beta of 1.56. SunTrust Banks has a 12 month low of $46.05 and a 12 month high of $75.08.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.00 annualized dividend and a yield of 3.14%. SunTrust Banks’s dividend payout ratio is presently 35.09%.

About SunTrust Banks

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in 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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Earnings History and Estimates for SunTrust Banks (NYSE:STI)

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