FY2017 EPS Estimates for SunTrust Banks, Inc. (STI) Cut by Analyst

SunTrust Banks, Inc. (NYSE:STI) – Analysts at B. Riley dropped their FY2017 earnings estimates for shares of SunTrust Banks in a report issued on Thursday. B. Riley analyst S. Moss now expects that the financial services provider will post earnings per share of $4.09 for the year, down from their previous forecast of $4.10. B. Riley also issued estimates for SunTrust Banks’ Q4 2017 earnings at $1.08 EPS, Q1 2018 earnings at $1.08 EPS, Q2 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.27 EPS, FY2018 earnings at $4.75 EPS, Q1 2019 earnings at $1.17 EPS, Q2 2019 earnings at $1.32 EPS, Q3 2019 earnings at $1.39 EPS, Q4 2019 earnings at $1.43 EPS and FY2019 earnings at $5.30 EPS.

Several other analysts have also weighed in on STI. Nomura lifted their target price on shares of SunTrust Banks from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, September 28th. Robert W. Baird reiterated a “hold” rating and set a $55.00 target price on shares of SunTrust Banks in a research report on Sunday, October 1st. Goldman Sachs Group reiterated a “buy” rating and set a $74.00 target price on shares of SunTrust Banks in a research report on Thursday, January 4th. Vining Sparks reiterated a “buy” rating and set a $85.00 target price on shares of SunTrust Banks in a research report on Monday, January 8th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $77.00 target price on shares of SunTrust Banks in a research report on Friday, December 29th. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $67.88.

Shares of SunTrust Banks (STI) opened at $68.89 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. SunTrust Banks has a 12-month low of $51.96 and a 12-month high of $68.95. The firm has a market cap of $32,790.00, a PE ratio of 17.66, a PEG ratio of 1.34 and a beta of 1.29.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS.

A number of large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC boosted its position in SunTrust Banks by 0.9% in the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Krilogy Financial LLC raised its stake in shares of SunTrust Banks by 1.8% in the second quarter. Krilogy Financial LLC now owns 5,153 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 90 shares during the last quarter. Balentine LLC raised its stake in shares of SunTrust Banks by 2.9% in the second quarter. Balentine LLC now owns 3,148 shares of the financial services provider’s stock worth $179,000 after acquiring an additional 90 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in shares of SunTrust Banks by 1.7% in the second quarter. Thrivent Financial For Lutherans now owns 18,320 shares of the financial services provider’s stock worth $1,039,000 after acquiring an additional 310 shares during the last quarter. Finally, AXA raised its stake in shares of SunTrust Banks by 0.7% in the second quarter. AXA now owns 98,200 shares of the financial services provider’s stock worth $5,570,000 after acquiring an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.32%. SunTrust Banks’s dividend payout ratio (DPR) is presently 41.03%.

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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 and Estimates for SunTrust Banks (NYSE:STI)

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