SunTrust Banks (STI) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

SunTrust Banks (NYSE:STI) announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04, Bloomberg Earnings reports. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share.

Shares of SunTrust Banks (NYSE:STI) traded up $1.68 during trading on Friday, hitting $67.48. The stock had a trading volume of 4,547,486 shares, compared to its average volume of 3,900,000. The company has a market capitalization of $32,120.00, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 1.26 and a beta of 1.37. SunTrust Banks has a 12 month low of $51.96 and a 12 month high of $72.06. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43.

STI has been the topic of several recent analyst reports. FBR & Co reiterated a “hold” rating and set a $62.00 target price on shares of SunTrust Banks in a report on Friday, October 20th. Oppenheimer reiterated a “hold” rating on shares of SunTrust Banks in a report on Friday, October 20th. UBS Group lowered SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 target price on shares of SunTrust Banks in a report on Monday, October 23rd. Finally, Citigroup lowered SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. They noted that the move was a valuation call. Fifteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $69.02.

In related news, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jerome T. Lienhard sold 29,248 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was 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. Insiders own 0.55% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC raised its holdings in SunTrust Banks by 107.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 843 shares in the last quarter. Advisory Services Network LLC raised its holdings in SunTrust Banks by 0.9% during the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in SunTrust Banks during the second quarter worth about $136,000. Dupont Capital Management Corp raised its holdings in SunTrust Banks by 55.2% during the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 933 shares in the last quarter. Finally, Blue Granite Capital LLC bought a new stake in SunTrust Banks during the third quarter worth about $177,000. Institutional investors and hedge funds own 81.82% of the company’s stock.

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SunTrust Banks Company Profile

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.

Earnings History for SunTrust Banks (NYSE:STI)

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