SunTrust Banks, Inc. (STI) Expected to Announce Quarterly Sales of $2.28 Billion

Equities analysts forecast that SunTrust Banks, Inc. (NYSE:STI) will announce $2.28 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for SunTrust Banks’ earnings, with the lowest sales estimate coming in at $2.27 billion and the highest estimate coming in at $2.29 billion. SunTrust Banks reported sales of $2.21 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.2%. The business is expected to announce its next earnings report before the market opens on Friday, April 20th.

On average, analysts expect that SunTrust Banks will report full year sales of $2.28 billion for the current financial year, with estimates ranging from $9.26 billion to $9.55 billion. For the next financial year, analysts anticipate that the business will report sales of $9.78 billion per share, with estimates ranging from $9.61 billion to $10.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for SunTrust Banks.

How to Become a New Pot Stock Millionaire

SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. The firm had revenue of $2.27 billion during 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 company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share.

STI has been the subject of several recent research reports. UBS upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $73.00 in a research note on Tuesday, December 12th. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Tuesday, December 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $77.00 target price on shares of SunTrust Banks in a research note on Friday, December 29th. Vining Sparks reiterated a “buy” rating and issued a $85.00 target price on shares of SunTrust Banks in a research note on Monday, January 8th. Finally, Goldman Sachs reiterated a “buy” rating and issued a $74.00 target price on shares of SunTrust Banks in a research note on Thursday, January 4th. Sixteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $69.25.

In other SunTrust Banks news, EVP Jerome T. Lienhard sold 29,248 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total transaction of $508,037.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 7,500 shares of SunTrust Banks stock in a transaction that occurred on Friday, February 16th. The shares were 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 of the company’s stock, valued at $10,516,344.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,348 shares of company stock valued at $1,289,757. 0.55% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Exencial Wealth Advisors LLC lifted its position in SunTrust Banks by 4.4% during the fourth quarter. Exencial Wealth Advisors LLC now owns 72,645 shares of the financial services provider’s stock valued at $4,692,000 after purchasing an additional 3,068 shares during the last quarter. Copper Rock Capital Partners LLC lifted its position in SunTrust Banks by 48.4% during the fourth quarter. Copper Rock Capital Partners LLC now owns 135,293 shares of the financial services provider’s stock valued at $8,854,000 after purchasing an additional 44,110 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in SunTrust Banks by 1,017.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,710 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 3,378 shares during the last quarter. Commerce Bank lifted its position in SunTrust Banks by 293.8% during the third quarter. Commerce Bank now owns 17,967 shares of the financial services provider’s stock valued at $1,074,000 after purchasing an additional 13,405 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in SunTrust Banks by 2.2% during the third quarter. California Public Employees Retirement System now owns 1,547,495 shares of the financial services provider’s stock valued at $92,494,000 after purchasing an additional 33,395 shares during the last quarter. Institutional investors and hedge funds own 83.57% of the company’s stock.

SunTrust Banks (NYSE:STI) opened at $71.53 on Friday. The firm has a market cap of $33,310.19, a PE ratio of 15.97, a PEG ratio of 1.13 and a beta of 1.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.92. SunTrust Banks has a 12 month low of $51.96 and a 12 month high of $73.37.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.60 annualized dividend and a yield of 2.24%. SunTrust Banks’s payout ratio is presently 35.71%.

COPYRIGHT VIOLATION NOTICE: This article was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another website, it was stolen and reposted in violation of international trademark and copyright laws. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/04/08/suntrust-banks-inc-sti-expected-to-announce-quarterly-sales-of-2-28-billion.html.

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.

Get a free copy of the Zacks research report on SunTrust Banks (STI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for SunTrust Banks (NYSE:STI)

Receive News & Ratings for SunTrust Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply