SunTrust Banks (NYSE:STI) Announces Earnings Results, Hits Expectations

SunTrust Banks (NYSE:STI) posted its earnings results on Thursday. The financial services provider reported $1.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.40, Briefing.com reports. SunTrust Banks had a net margin of 22.31% and a return on equity of 11.40%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. SunTrust Banks’s revenue for the quarter was up 2.6% compared to the same quarter last year.

NYSE STI opened at $67.89 on Friday. The company has a fifty day simple moving average of $66.19 and a two-hundred day simple moving average of $63.71. The stock has a market cap of $30.00 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.52 and a beta of 1.53. SunTrust Banks has a 12-month low of $46.05 and a 12-month high of $69.57. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.83.

A number of research firms have issued reports on STI. Argus set a $81.00 price target on shares of SunTrust Banks and gave the stock a “buy” rating in a report on Friday, July 19th. UBS Group raised their price target on shares of SunTrust Banks from $68.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and raised their price target for the stock from $67.00 to $75.00 in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $68.11.

In other news, Vice Chairman Mark A. Chancy sold 20,973 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $65.21, for a total value of $1,367,649.33. Following the sale, the insider now owns 246,630 shares in the company, valued at $16,082,742.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ellen Koebler sold 4,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $60.84, for a total transaction of $243,360.00. Following the completion of the sale, the insider now owns 1 shares in the company, valued at approximately $60.84. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

SunTrust Banks Company Profile

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 for SunTrust Banks (NYSE:STI)

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