SunTrust Banks (STI) Expected to Post Earnings of $1.11 Per Share

Analysts forecast that SunTrust Banks (NYSE:STI) will report $1.11 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for SunTrust Banks’ earnings. The lowest EPS estimate is $1.04 and the highest is $1.15. SunTrust Banks posted earnings per share of $0.87 in the same quarter last year, which indicates a positive year over year growth rate of 27.6%. The firm is expected to report its next quarterly earnings report before the market opens on Friday, April 20th.

According to Zacks, analysts expect that SunTrust Banks will report full-year earnings of $5.07 per share for the current year, with EPS estimates ranging from $4.84 to $5.30. For the next fiscal year, analysts anticipate that the business will report earnings of $5.57 per share, with EPS estimates ranging from $5.30 to $5.95. Zacks’ earnings per share averages are an average based on a survey of research firms that follow SunTrust Banks.

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

Several equities analysts have recently issued reports on STI shares. Susquehanna Bancshares set a $75.00 target price on SunTrust Banks and gave the company a “hold” rating in a report on Tuesday, April 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 target price on shares of SunTrust Banks in a report on Thursday, April 5th. ValuEngine lowered SunTrust Banks from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research lowered SunTrust Banks from a “buy” rating to a “hold” rating in a report on Monday, March 26th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $73.00 target price (up from $71.00) on shares of SunTrust Banks in a report on Wednesday, March 14th. Eighteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $69.76.

In other news, EVP Jerome T. Lienhard sold 29,248 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total value of $508,037.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan S. Johnson sold 3,600 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was 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 of the company’s stock, valued at $629,201.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,348 shares of company stock valued at $1,289,757. 0.52% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of SunTrust Banks by 60.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 28,720 shares of the financial services provider’s stock worth $1,855,000 after acquiring an additional 10,843 shares during the period. Certified Advisory Corp bought a new position in shares of SunTrust Banks in the fourth quarter worth $241,000. Wagner Wealth Management LLC bought a new position in shares of SunTrust Banks in the fourth quarter worth $2,318,000. Xact Kapitalforvaltning AB boosted its holdings in shares of SunTrust Banks by 6.2% in the fourth quarter. Xact Kapitalforvaltning AB now owns 93,869 shares of the financial services provider’s stock worth $6,063,000 after acquiring an additional 5,486 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of SunTrust Banks by 14.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 94,229 shares of the financial services provider’s stock worth $6,086,000 after acquiring an additional 12,025 shares during the period. 83.63% of the stock is owned by hedge funds and other institutional investors.

Shares of SunTrust Banks stock opened at $65.95 on Wednesday. The company has a market capitalization of $31,586.85, a PE ratio of 16.32, a P/E/G ratio of 1.02 and a beta of 1.33. SunTrust Banks has a 52 week low of $51.96 and a 52 week high of $73.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.92.

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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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Earnings History and Estimates for SunTrust Banks (NYSE:STI)

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