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

SunTrust Banks, Inc. (NYSE:STI) – Research analysts at B. Riley cut their FY2017 earnings estimates for SunTrust Banks in a note issued to investors on Thursday. B. Riley analyst S. Moss now forecasts that the financial services provider will post earnings of $4.09 per share for the year, down from their prior 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.

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

Several other equities analysts have also recently issued reports on STI. Nomura boosted their price target on 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 restated a “hold” rating and issued a $55.00 price target on shares of SunTrust Banks in a research report on Sunday, October 1st. Goldman Sachs Group restated a “buy” rating and issued a $74.00 price target on shares of SunTrust Banks in a research report on Thursday, January 4th. Vining Sparks restated a “buy” rating and issued a $85.00 price target on shares of SunTrust Banks in a research report on Monday, January 8th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $77.00 price target 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 stock. SunTrust Banks currently has an average rating of “Hold” and an average target price of $67.88.

SunTrust Banks (NYSE STI) opened at $68.89 on Friday. The stock has a market capitalization of $32,790.00, a PE ratio of 17.66, a P/E/G ratio of 1.34 and a beta of 1.29. SunTrust Banks has a 52-week low of $51.96 and a 52-week high of $68.95. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93.

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

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

Several large investors have recently made changes to their positions in STI. Fiduciary Trust Co. purchased a new stake in shares of SunTrust Banks during the 2nd quarter worth approximately $118,000. Systematic Financial Management LP boosted its stake in shares of SunTrust Banks by 71.4% during the 2nd quarter. Systematic Financial Management LP now owns 50,036 shares of the financial services provider’s stock worth $2,838,000 after acquiring an additional 20,849 shares in the last quarter. AXA boosted its stake in shares of SunTrust Banks by 0.7% during the 2nd quarter. AXA now owns 98,200 shares of the financial services provider’s stock worth $5,570,000 after acquiring an additional 700 shares in the last quarter. Symphony Asset Management LLC purchased a new stake in shares of SunTrust Banks during the 2nd quarter worth approximately $562,000. Finally, Teachers Advisors LLC boosted its stake in shares of SunTrust Banks by 9.2% during the 2nd quarter. Teachers Advisors LLC now owns 1,584,483 shares of the financial services provider’s stock worth $89,872,000 after acquiring an additional 133,517 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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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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