SunTrust Banks, Inc. (NYSE:STI) – Stock analysts at B. Riley decreased their FY2017 earnings estimates for shares of SunTrust Banks in a research report issued to clients and investors on Thursday, according to Zacks Investment Research. B. Riley analyst S. Moss now forecasts that the financial services provider will earn $4.09 per share for the year, down from their previous estimate 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 equities analysts have also commented on the stock. Sandler O’Neill lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research report on Monday, October 23rd. Keefe, Bruyette & Woods upgraded shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 12th. Wedbush lowered shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $71.00 to $63.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. UBS Group upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $73.00 in a research report on Tuesday, December 12th. Finally, Nomura upped their price target on shares of SunTrust Banks from $63.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, October 26th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. SunTrust Banks has an average rating of “Hold” and an average price target of $68.40.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.04. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Fiduciary Trust Co. acquired a new stake in SunTrust Banks in the 2nd quarter valued at about $118,000. Advisory Services Network LLC lifted its holdings in SunTrust Banks by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 20 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in SunTrust Banks in the 2nd quarter valued at about $136,000. Dupont Capital Management Corp lifted its holdings in SunTrust Banks by 55.2% in the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 933 shares during the last quarter. Finally, Blue Granite Capital LLC acquired a new stake in SunTrust Banks in the 3rd quarter valued at about $177,000. 80.71% of the stock is owned by institutional investors.
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 shares were sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.
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About SunTrust Banks
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.
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