SunTrust Banks, Inc. (NYSE:STI) – Research analysts at FIG Partners decreased their Q1 2018 earnings estimates for shares of SunTrust Banks in a research report issued on Thursday. FIG Partners analyst C. Marinac now anticipates that the financial services provider will earn $1.14 per share for the quarter, down from their previous forecast of $1.16. FIG Partners also issued estimates for SunTrust Banks’ Q4 2018 earnings at $1.30 EPS, Q2 2019 earnings at $1.34 EPS, Q3 2019 earnings at $1.38 EPS and Q4 2019 earnings at $1.39 EPS.
Other analysts also recently issued research reports about the stock. Vining Sparks reaffirmed a “buy” rating and set a $85.00 price target on shares of SunTrust Banks in a report on Monday, January 8th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Friday, January 5th. UBS Group upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $73.00 in a research note on Tuesday, December 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $77.00 price objective on shares of SunTrust Banks in a research note on Friday, December 29th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $74.00 price objective on shares of SunTrust Banks in a research note on Thursday, January 4th. Fifteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $69.02.
Shares of SunTrust Banks (NYSE:STI) opened at $71.52 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market cap of $33,870.00, a PE ratio of 15.96, a PEG ratio of 1.13 and a beta of 1.37. SunTrust Banks has a 1-year low of $51.96 and a 1-year high of $72.06.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.32 billion. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, February 27th. SunTrust Banks’s payout ratio is 35.71%.
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 legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $70.13, for a total transaction of $525,975.00. Following the sale, the insider now owns 149,955 shares in the company, valued at approximately $10,516,344.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,748 shares of company stock worth $1,274,253. 0.55% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC raised its position in shares of SunTrust Banks by 0.9% during the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after buying an additional 20 shares during the last quarter. Intercontinental Wealth Advisors LLC raised its position in shares of SunTrust Banks by 13.8% during the fourth quarter. Intercontinental Wealth Advisors LLC now owns 5,845 shares of the financial services provider’s stock valued at $378,000 after buying an additional 707 shares during the last quarter. Advisor Group Inc. raised its position in shares of SunTrust Banks by 3.9% during the fourth quarter. Advisor Group Inc. now owns 21,547 shares of the financial services provider’s stock valued at $1,393,000 after buying an additional 811 shares during the last quarter. Columbia Partners L L C Investment Management raised its position in shares of SunTrust Banks by 22.2% during the fourth quarter. Columbia Partners L L C Investment Management now owns 4,519 shares of the financial services provider’s stock valued at $291,000 after buying an additional 821 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its position in shares of SunTrust Banks by 107.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after buying an additional 843 shares during the last quarter. Institutional investors own 81.91% of the company’s stock.
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About SunTrust Banks
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.
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