Analysts predict that SunTrust Banks, Inc. (NYSE:STI) will announce earnings per share (EPS) of $1.38 for the current quarter, according to Zacks. Six analysts have made estimates for SunTrust Banks’ earnings. The lowest EPS estimate is $1.23 and the highest is $1.53. SunTrust Banks posted earnings per share of $1.09 during the same quarter last year, which indicates a positive year-over-year growth rate of 26.6%. The company is scheduled to report its next quarterly earnings results on Friday, January 18th.
According to Zacks, analysts expect that SunTrust Banks will report full-year earnings of $5.69 per share for the current fiscal year, with EPS estimates ranging from $5.57 to $5.87. For the next fiscal year, analysts expect that the company will report earnings of $5.84 per share, with EPS estimates ranging from $5.69 to $6.10. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover SunTrust Banks.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, October 19th. The financial services provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.17. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business posted $1.06 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis.
Several brokerages have issued reports on STI. Piper Jaffray Companies lowered shares of SunTrust Banks from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $76.00 to $74.00 in a research note on Thursday, September 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of SunTrust Banks in a research note on Monday, October 8th. Zacks Investment Research lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. B. Riley set a $79.00 price target on shares of SunTrust Banks and gave the company a “buy” rating in a research note on Monday, October 15th. Finally, Wedbush set a $75.00 price target on shares of SunTrust Banks and gave the company a “hold” rating in a research note on Thursday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.00.
Shares of NYSE:STI opened at $62.49 on Wednesday. SunTrust Banks has a 12 month low of $56.30 and a 12 month high of $75.08. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market cap of $28.54 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.05 and a beta of 1.29.
In other news, EVP Jorge Arrieta sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $73.13, for a total transaction of $182,825.00. Following the transaction, the executive vice president now directly owns 6,148 shares in the company, valued at approximately $449,603.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in STI. Trust Co. of Vermont increased its stake in shares of SunTrust Banks by 138.1% during the 2nd quarter. Trust Co. of Vermont now owns 1,905 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,105 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of SunTrust Banks during the 3rd quarter worth about $127,000. Flagship Harbor Advisors LLC acquired a new position in shares of SunTrust Banks during the 2nd quarter worth about $134,000. Parallel Advisors LLC increased its stake in shares of SunTrust Banks by 52.2% during the 2nd quarter. Parallel Advisors LLC now owns 2,318 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 795 shares during the last quarter. Finally, Oakworth Capital Inc. increased its stake in shares of SunTrust Banks by 117.0% during the 3rd quarter. Oakworth Capital Inc. now owns 2,300 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 1,240 shares during the last quarter. Institutional investors own 84.13% of the company’s stock.
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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