Wedbush Brokers Lift Earnings Estimates for SunTrust Banks (STI)

SunTrust Banks (NYSE:STI) – Stock analysts at Wedbush raised their Q2 2018 EPS estimates for SunTrust Banks in a research report issued to clients and investors on Monday, April 23rd. Wedbush analyst P. Winter now expects that the financial services provider will post earnings of $1.32 per share for the quarter, up from their prior forecast of $1.27. Wedbush also issued estimates for SunTrust Banks’ Q3 2018 earnings at $1.38 EPS, Q4 2018 earnings at $1.40 EPS, FY2018 earnings at $5.38 EPS and FY2019 earnings at $5.71 EPS.

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SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.18. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share.

Several other equities analysts have also recently commented on STI. Stephens cut SunTrust Banks from an “overweight” rating to an “equal weight” rating in a research report on Monday. They noted that the move was a valuation call. Keefe, Bruyette & Woods restated a “buy” rating and set a $75.00 target price on shares of SunTrust Banks in a research report on Thursday, April 5th. Susquehanna Bancshares set a $75.00 target price on SunTrust Banks and gave the stock a “hold” rating in a research report on Tuesday, April 10th. Barclays boosted their target price on SunTrust Banks from $68.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, B. Riley restated a “hold” rating and set a $70.00 target price on shares of SunTrust Banks in a research report on Monday, January 22nd. Nineteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $70.24.

Shares of NYSE STI opened at $67.24 on Tuesday. The firm has a market capitalization of $31,301.18, a PE ratio of 14.95, a P/E/G ratio of 1.01 and a beta of 1.33. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $73.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.91.

In other news, Vice Chairman Mark A. Chancy sold 7,500 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $70.13, for a total value of $525,975.00. Following the completion of the sale, the insider now owns 149,955 shares of the company’s stock, valued at approximately $10,516,344.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Susan S. Johnson sold 3,600 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.04, for a total value of $255,744.00. Following the completion of the sale, the insider now directly owns 8,857 shares of the company’s stock, valued at approximately $629,201.28. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC lifted its stake in shares of SunTrust Banks by 107.5% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 843 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in shares of SunTrust Banks in the 4th quarter valued at about $156,000. Avestar Capital LLC bought a new stake in shares of SunTrust Banks in the 4th quarter valued at about $162,000. Quantitative Systematic Strategies LLC bought a new stake in shares of SunTrust Banks in the 4th quarter valued at about $202,000. Finally, WealthTrust Axiom LLC bought a new stake in shares of SunTrust Banks in the 4th quarter valued at about $202,000. 83.88% of the stock is owned by institutional investors.

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About SunTrust Banks

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.

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

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