Zacks: Analysts Anticipate SunTrust Banks, Inc. (STI) Will Announce Earnings of $1.38 Per Share

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Analysts expect SunTrust Banks, Inc. (NYSE:STI) to post earnings of $1.38 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for SunTrust Banks’ earnings, with the lowest EPS estimate coming in at $1.23 and the highest estimate coming in at $1.53. SunTrust Banks reported earnings of $1.09 per share during the same quarter last year, which indicates a positive year over year growth rate of 26.6%. The firm is expected to issue its next quarterly earnings report on Friday, January 18th.

According to Zacks, analysts expect that SunTrust Banks will report full year earnings of $5.69 per share for the current financial year, with EPS estimates ranging from $5.57 to $5.87. For the next fiscal year, analysts anticipate that the company will report earnings of $5.85 per share, with EPS estimates ranging from $5.69 to $6.10. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover SunTrust Banks.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.17. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.35 billion. SunTrust Banks had a return on equity of 11.66% and a net margin of 28.17%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.06 EPS.

A number of research firms recently commented on STI. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price objective on shares of SunTrust Banks in a report on Tuesday, July 24th. Argus increased their price objective on SunTrust Banks to $81.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Monday, July 16th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $79.00 price objective on shares of SunTrust Banks in a report on Monday, July 23rd. Finally, Edward Jones upgraded SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $77.00.

In other SunTrust Banks news, EVP Jorge Arrieta sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $73.13, for a total transaction of $182,825.00. Following the completion of the sale, the executive vice president now owns 6,148 shares of the company’s stock, valued at $449,603.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Fortis Advisors LLC boosted its position in SunTrust Banks by 13.4% during the second quarter. Fortis Advisors LLC now owns 6,380 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 755 shares during the period. Trust Co boosted its position in shares of SunTrust Banks by 23.9% in the first quarter. Trust Co now owns 4,118 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 794 shares during the period. Parallel Advisors LLC boosted its position in shares of SunTrust Banks by 52.2% in the second quarter. Parallel Advisors LLC now owns 2,318 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 795 shares during the period. Beacon Investment Advisory Services Inc. boosted its position in shares of SunTrust Banks by 1.8% in the second quarter. Beacon Investment Advisory Services Inc. now owns 45,648 shares of the financial services provider’s stock valued at $3,014,000 after acquiring an additional 797 shares during the period. Finally, Huntington National Bank boosted its position in shares of SunTrust Banks by 9.5% in the third quarter. Huntington National Bank now owns 9,704 shares of the financial services provider’s stock valued at $648,000 after acquiring an additional 839 shares during the period. 84.13% of the stock is owned by hedge funds and other institutional investors.

Shares of STI traded up $0.72 during trading hours on Wednesday, reaching $62.66. The company’s stock had a trading volume of 3,989,608 shares, compared to its average volume of 3,268,747. The company has a market capitalization of $27.44 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 1.02 and a beta of 1.29. SunTrust Banks has a 1-year low of $56.30 and a 1-year high of $75.08. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.93.

SunTrust Banks Company Profile

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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