SunTrust Banks (STI) Posts Earnings Results, Beats Estimates By $0.18 EPS

SunTrust Banks (NYSE:STI) announced its quarterly earnings results on Friday. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.18, Bloomberg Earnings reports. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.29 billion. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The business’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS.

NYSE:STI traded up $0.57 during mid-day trading on Friday, hitting $67.60. 1,133,561 shares of the company’s stock traded hands, compared to its average volume of 3,438,391. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. SunTrust Banks has a 1 year low of $51.96 and a 1 year high of $73.37. The company has a market capitalization of $30,631.52, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 0.99 and a beta of 1.33.

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A number of brokerages have recently issued reports on STI. Credit Suisse Group reiterated a “neutral” rating and issued a $73.00 price target (up previously from $71.00) on shares of SunTrust Banks in a report on Wednesday, March 14th. Zacks Investment Research downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Morgan Stanley increased their price target on shares of SunTrust Banks from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. ValuEngine upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Oppenheimer reiterated a “hold” rating on shares of SunTrust Banks in a report on Monday, January 22nd. Eighteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. SunTrust Banks has an average rating of “Hold” and a consensus target price of $69.76.



In other SunTrust Banks news, insider Susan S. Johnson sold 3,600 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.04, for a total transaction of $255,744.00. Following the completion of the transaction, the insider now directly owns 8,857 shares in the company, valued at approximately $629,201.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jerome T. Lienhard sold 29,248 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total transaction of $508,037.76. The disclosure for this sale can be found here. Insiders have sold a total of 40,348 shares of company stock valued at $1,289,757 over the last 90 days. 0.52% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC boosted its stake in shares of SunTrust Banks by 107.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 843 shares during the last quarter. Icon Wealth Partners LLC acquired a new stake in shares of SunTrust Banks during the 4th quarter worth about $156,000. Avestar Capital LLC acquired a new stake in shares of SunTrust Banks during the 4th quarter worth about $162,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of SunTrust Banks during the 4th quarter worth about $202,000. Finally, WealthTrust Axiom LLC acquired a new stake in shares of SunTrust Banks during the 4th quarter worth about $202,000. 83.63% of the stock is currently 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 for SunTrust Banks (NYSE:STI)

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