SunTrust Banks (NYSE:STI) – Wedbush issued their Q1 2019 earnings per share (EPS) estimates for SunTrust Banks in a note issued to investors on Monday, April 23rd. Wedbush analyst P. Winter forecasts that the financial services provider will post earnings per share of $1.22 for the quarter. Wedbush also issued estimates for SunTrust Banks’ Q2 2019 earnings at $1.41 EPS, Q3 2019 earnings at $1.51 EPS and Q4 2019 earnings at $1.56 EPS.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.18. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The business’s revenue was up .4% on a year-over-year basis.
NYSE:STI opened at $67.53 on Wednesday. SunTrust Banks has a twelve month low of $51.96 and a twelve month 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. The company has a market cap of $31,488.50, a price-to-earnings ratio of 16.72, a PEG ratio of 1.01 and a beta of 1.33.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.37%. SunTrust Banks’s dividend payout ratio is 39.60%.
In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 7,500 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $70.13, for a total value of $525,975.00. Following the transaction, the insider now directly owns 149,955 shares of the company’s stock, valued at approximately $10,516,344.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Susan S. Johnson sold 3,600 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 8,857 shares in the company, valued at $629,201.28. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of STI. Alliancebernstein L.P. grew its holdings in SunTrust Banks by 522.8% in the 4th quarter. Alliancebernstein L.P. now owns 5,543,914 shares of the financial services provider’s stock valued at $358,081,000 after buying an additional 4,653,780 shares in the last quarter. Lazard Asset Management LLC grew its holdings in SunTrust Banks by 54.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,615,575 shares of the financial services provider’s stock valued at $427,299,000 after buying an additional 2,319,782 shares in the last quarter. Schafer Cullen Capital Management Inc. acquired a new position in SunTrust Banks in the 4th quarter valued at $81,267,000. Renaissance Technologies LLC grew its holdings in SunTrust Banks by 1,837.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,224,917 shares of the financial services provider’s stock valued at $79,117,000 after buying an additional 1,161,700 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in SunTrust Banks by 162.8% in the 4th quarter. APG Asset Management N.V. now owns 1,761,268 shares of the financial services provider’s stock valued at $94,737,000 after buying an additional 1,091,177 shares in the last quarter. 83.88% of the stock is currently owned by hedge funds and other 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.
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