Q3 2018 EPS Estimates for SunTrust Banks, Inc. Increased by Analyst (STI)
SunTrust Banks, Inc. (NYSE:STI) – Equities research analysts at Wedbush increased their Q3 2018 earnings per share (EPS) estimates for shares of SunTrust Banks in a research note issued on Thursday. Wedbush analyst P. Winter now anticipates that the financial services provider will post earnings per share of $1.31 for the quarter, up from their previous estimate of $1.17. Wedbush currently has a “Neutral” rating and a $63.00 price objective on the stock. Wedbush also issued estimates for SunTrust Banks’ Q1 2019 earnings at $1.14 EPS, Q2 2019 earnings at $1.31 EPS and FY2019 earnings at $5.29 EPS.
SunTrust Banks (NYSE:STI) last released 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 during the quarter, compared to the consensus estimate of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share.
Several other research firms also recently issued reports on STI. Credit Suisse Group raised shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and raised their price target for the company from $56.00 to $60.00 in a research note on Monday, October 9th. Barclays raised their price target on shares of SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. Raymond James Financial downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Zacks Investment Research downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Finally, FBR & Co downgraded shares of SunTrust Banks from a “buy” rating to a “neutral” rating and set a $62.00 target price for the company. in a research note on Tuesday, October 10th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $64.58.
SunTrust Banks (NYSE:STI) opened at $65.76 on Friday. The stock has a market cap of $31,400.00, a price-to-earnings ratio of 16.86, a PEG ratio of 1.76 and a beta of 1.29. SunTrust Banks has a 52 week low of $51.96 and a 52 week high of $66.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend 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 the firm’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was 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. 0.55% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Fiduciary Trust Co. acquired a new stake in SunTrust Banks in the second quarter worth $118,000. Advisory Services Network LLC grew its holdings 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 worth $121,000 after purchasing an additional 20 shares during the period. Westwood Holdings Group Inc. acquired a new stake in SunTrust Banks in the second quarter worth $136,000. Tiedemann Wealth Management LLC grew its holdings in SunTrust Banks by 12.1% in the third quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 2,920 shares during the period. Finally, Dupont Capital Management Corp grew its holdings in SunTrust Banks by 55.2% in the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 933 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.
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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.
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