Wall Street brokerages expect that SunTrust Banks, Inc. (NYSE:STI) will report earnings per share (EPS) of $1.46 for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for SunTrust Banks’ earnings. The lowest EPS estimate is $1.40 and the highest is $1.49. SunTrust Banks reported earnings per share of $1.49 during the same quarter last year, which suggests a negative year over year growth rate of 2%. The business is expected to issue its next earnings report before the market opens on Thursday, July 18th.
On average, analysts expect that SunTrust Banks will report full-year earnings of $5.69 per share for the current year, with EPS estimates ranging from $5.43 to $5.81. For the next year, analysts anticipate that the business will post earnings of $5.83 per share, with EPS estimates ranging from $5.48 to $6.35. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for SunTrust Banks.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. SunTrust Banks had a net margin of 25.26% and a return on equity of 12.22%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm earned $1.29 EPS. The business’s revenue was up 3.1% on a year-over-year basis.
A number of analysts have weighed in on STI shares. Wells Fargo & Co set a $2,100.00 price target on shares of Amazon.com and gave the company a “buy” rating in a report on Monday, March 18th. Morgan Stanley downgraded shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a report on Monday, April 22nd. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $70.65.
In other news, insider Robert Ryan Richards sold 1,844 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $62.58, for a total transaction of $115,397.52. Following the completion of the transaction, the insider now directly owns 2,083 shares of the company’s stock, valued at approximately $130,354.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 41,882 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $63.10, for a total transaction of $2,642,754.20. Following the transaction, the insider now directly owns 228,130 shares of the company’s stock, valued at $14,395,003. The disclosure for this sale can be found here. Insiders have sold a total of 50,332 shares of company stock valued at $3,177,368 over the last ninety days. 0.42% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in STI. Arcus Capital Partners LLC lifted its holdings in SunTrust Banks by 1.7% during the 1st quarter. Arcus Capital Partners LLC now owns 9,972 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 164 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in SunTrust Banks by 1.1% during the 1st quarter. Independence Bank of Kentucky now owns 15,830 shares of the financial services provider’s stock valued at $938,000 after purchasing an additional 165 shares during the last quarter. Eqis Capital Management Inc. lifted its holdings in SunTrust Banks by 2.8% during the 1st quarter. Eqis Capital Management Inc. now owns 6,227 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 168 shares during the last quarter. Magnus Financial Group LLC lifted its holdings in SunTrust Banks by 3.6% during the 1st quarter. Magnus Financial Group LLC now owns 5,527 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 192 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its holdings in SunTrust Banks by 2.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 8,391 shares of the financial services provider’s stock valued at $527,000 after purchasing an additional 193 shares during the last quarter. Institutional investors and hedge funds own 80.21% of the company’s stock.
SunTrust Banks stock traded down $0.27 during mid-day trading on Thursday, reaching $63.95. The company had a trading volume of 130,340 shares, compared to its average volume of 2,557,952. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.76. SunTrust Banks has a 52 week low of $46.05 and a 52 week high of $75.08. The stock’s 50 day simple moving average is $62.94. The stock has a market cap of $28.50 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, May 30th. SunTrust Banks’s payout ratio is 35.09%.
SunTrust Banks Company Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in 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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