Jefferies Group Weighs in on SunTrust Banks, Inc.’s Q4 2017 Earnings (STI)

SunTrust Banks, Inc. (NYSE:STI) – Stock analysts at Jefferies Group lowered their Q4 2017 earnings estimates for SunTrust Banks in a report issued on Monday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will earn $1.03 per share for the quarter, down from their prior forecast of $1.05. Jefferies Group currently has a “Buy” rating and a $69.00 price objective on the stock. Jefferies Group also issued estimates for SunTrust Banks’ FY2018 earnings at $4.93 EPS and FY2019 earnings at $5.43 EPS.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business earned $0.91 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis.

Several other research analysts have also recently issued reports on the stock. Sandler O’Neill cut shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a report on Monday, October 23rd. Keefe, Bruyette & Woods upgraded shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 12th. Wedbush cut shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $71.00 to $63.00 in a report on Thursday, December 21st. They noted that the move was a valuation call. UBS Group upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and raised their price target for the company from $62.00 to $73.00 in a report on Tuesday, December 12th. Finally, Nomura raised their price target on shares of SunTrust Banks from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. SunTrust Banks presently has a consensus rating of “Hold” and a consensus target price of $67.88.

SunTrust Banks (STI) opened at $67.70 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. SunTrust Banks has a 1-year low of $51.96 and a 1-year high of $68.62. The stock has a market cap of $32,230.00, a PE ratio of 17.36, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC raised its position in SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after buying an additional 20 shares during the last quarter. Krilogy Financial LLC raised its position in SunTrust Banks by 1.8% during the 2nd quarter. Krilogy Financial LLC now owns 5,153 shares of the financial services provider’s stock worth $292,000 after buying an additional 90 shares during the last quarter. Balentine LLC raised its position in SunTrust Banks by 2.9% during the 2nd quarter. Balentine LLC now owns 3,148 shares of the financial services provider’s stock worth $179,000 after buying an additional 90 shares during the last quarter. South State Corp raised its position in SunTrust Banks by 1.3% during the 2nd quarter. South State Corp now owns 11,920 shares of the financial services provider’s stock worth $676,000 after buying an additional 150 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its position in SunTrust Banks by 1.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 18,320 shares of the financial services provider’s stock worth $1,039,000 after buying an additional 310 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total transaction of $240,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kyle P. Legg sold 3,300 shares of the firm’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 transaction of $72,006.00. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Wednesday, November 29th. SunTrust Banks’s payout ratio is currently 41.03%.

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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 and Estimates for SunTrust Banks (NYSE:STI)

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