SunTrust Banks (NYSE:STI) announced its quarterly earnings data on Friday. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.18, Bloomberg Earnings reports. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis.
Shares of NYSE STI opened at $66.84 on Friday. SunTrust Banks has a 52 week low of $51.96 and a 52 week high of $73.37. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $31,390.16, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.02 and a beta of 1.33.
In other news, Vice Chairman Mark A. Chancy sold 7,500 shares of SunTrust Banks stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $70.13, for a total transaction of $525,975.00. Following the completion of the sale, the insider now owns 149,955 shares in the company, valued at approximately $10,516,344.15. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jerome T. Lienhard sold 29,248 shares of SunTrust Banks stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total value of $508,037.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,348 shares of company stock valued at $1,289,757. 0.52% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of STI. Alliancebernstein L.P. boosted its position in shares of SunTrust Banks by 522.8% during the 4th quarter. Alliancebernstein L.P. now owns 5,543,914 shares of the financial services provider’s stock valued at $358,081,000 after acquiring an additional 4,653,780 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of SunTrust Banks by 54.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,615,575 shares of the financial services provider’s stock valued at $427,299,000 after acquiring an additional 2,319,782 shares during the last quarter. Schafer Cullen Capital Management Inc. bought a new stake in shares of SunTrust Banks during the 4th quarter valued at about $81,267,000. Renaissance Technologies LLC boosted its position in shares of SunTrust Banks by 1,837.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,224,917 shares of the financial services provider’s stock valued at $79,117,000 after acquiring an additional 1,161,700 shares during the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of SunTrust Banks by 162.8% during the 4th quarter. APG Asset Management N.V. now owns 1,761,268 shares of the financial services provider’s stock valued at $94,737,000 after acquiring an additional 1,091,177 shares during the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.
Several brokerages recently weighed in on STI. BMO Capital Markets reissued a “hold” rating and issued a $77.00 price objective on shares of SunTrust Banks in a report on Friday. Susquehanna Bancshares set a $75.00 price objective on SunTrust Banks and gave the stock a “hold” rating in a report on Tuesday, April 10th. ValuEngine lowered SunTrust Banks from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Morgan Stanley lifted their price objective on SunTrust Banks from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $75.00 price objective on shares of SunTrust Banks in a report on Thursday, April 5th. Eighteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $69.67.
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SunTrust Banks Company Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through 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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