FBR & Co Comments on SunTrust Banks Inc.’s Q1 2018 Earnings (STI)
SunTrust Banks Inc. (NYSE:STI) – Stock analysts at FBR & Co issued their Q1 2018 earnings per share (EPS) estimates for shares of SunTrust Banks in a research note issued to investors on Monday. FBR & Co analyst S. Moss forecasts that the firm will post earnings per share of $0.91 for the quarter. FBR & Co currently has a “Outperform” rating and a $49.00 target price on the stock. FBR & Co also issued estimates for SunTrust Banks’ Q2 2018 earnings at $1.03 EPS, Q3 2018 earnings at $1.04 EPS and FY2018 earnings at $4.00 EPS.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. SunTrust Banks had a net margin of 22.31% and a return on equity of 8.53%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company posted $0.89 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year.
STI has been the subject of a number of other reports. Wells Fargo & Co. reiterated a “buy” rating on shares of SunTrust Banks in a research note on Sunday, July 10th. Robert W. Baird reiterated an “underperform” rating on shares of SunTrust Banks in a research note on Thursday, August 4th. BMO Capital Markets reiterated a “hold” rating and issued a $44.00 price target on shares of SunTrust Banks in a research note on Thursday, July 7th. Barclays PLC reiterated an “equal weight” rating and issued a $46.00 price target on shares of SunTrust Banks in a research note on Sunday, July 10th. Finally, Sanford C. Bernstein lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 price target for the company. in a research note on Tuesday, August 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $44.91.
SunTrust Banks (NYSE:STI) traded up 0.60% during mid-day trading on Thursday, reaching $45.03. 4,026,962 shares of the company’s stock traded hands. The stock has a 50 day moving average of $44.10 and a 200 day moving average of $41.93. SunTrust Banks has a 12-month low of $31.07 and a 12-month high of $46.47. The company has a market cap of $22.58 billion, a P/E ratio of 12.19 and a beta of 1.31.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pictet Asset Management Ltd. boosted its position in SunTrust Banks by 1.8% in the first quarter. Pictet Asset Management Ltd. now owns 274,793 shares of the financial services provider’s stock worth $9,118,000 after buying an additional 4,900 shares during the period. Scotia Capital Inc. boosted its position in SunTrust Banks by 57.4% in the first quarter. Scotia Capital Inc. now owns 14,835 shares of the financial services provider’s stock worth $536,000 after buying an additional 5,410 shares during the period. Rafferty Asset Management LLC boosted its position in SunTrust Banks by 40.5% in the first quarter. Rafferty Asset Management LLC now owns 81,773 shares of the financial services provider’s stock worth $2,950,000 after buying an additional 23,570 shares during the period. Pegasus Partners Ltd. purchased a new position in SunTrust Banks during the first quarter worth $574,000. Finally, BB&T Securities LLC boosted its position in SunTrust Banks by 19.9% in the first quarter. BB&T Securities LLC now owns 19,611 shares of the financial services provider’s stock worth $707,000 after buying an additional 3,252 shares during the period. Institutional investors and hedge funds own 82.37% of the company’s stock.
In other SunTrust Banks news, insider Susan S. Johnson sold 1,118 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $42.40, for a total transaction of $47,403.20. Following the transaction, the insider now owns 1,119 shares in the company, valued at $47,445.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.67% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.26 per share. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.04 dividend on an annualized basis and a yield of 2.31%. SunTrust Banks’s payout ratio is 28.18%.
About SunTrust Banks
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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