Q4 2016 EPS Estimates for SunTrust Banks Inc. (STI) Lowered by Analyst
SunTrust Banks Inc. (NYSE:STI) – Investment analysts at Jefferies Group reduced their Q4 2016 earnings estimates for shares of SunTrust Banks in a note issued to investors on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the brokerage will earn $0.85 per share for the quarter, down from their prior forecast of $0.86. Jefferies Group also issued estimates for SunTrust Banks’ Q1 2017 earnings at $0.81 EPS, Q2 2017 earnings at $0.95 EPS, Q3 2017 earnings at $0.98 EPS and Q4 2017 earnings at $0.96 EPS.
STI has been the subject of several other reports. Wells Fargo & Co. reissued a “buy” rating on shares of SunTrust Banks in a research note on Sunday, July 10th. Robert W. Baird reissued an “underperform” rating on shares of SunTrust Banks in a research note on Thursday, August 4th. BMO Capital Markets reissued a “hold” rating and issued a $44.00 target price on shares of SunTrust Banks in a research note on Thursday, July 7th. Barclays PLC restated an “equal weight” rating and issued a $46.00 price target on shares of SunTrust Banks in a research report on Sunday, July 10th. Finally, Sanford C. Bernstein lowered SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 price target on the stock. in a research report on Tuesday, August 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $44.91.
SunTrust Banks (NYSE:STI) opened at 45.03 on Thursday. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 12.19 and a beta of 1.31. The company’s 50-day moving average price is $44.17 and its 200 day moving average price is $41.98. SunTrust Banks has a 52-week low of $31.07 and a 52-week high of $46.47.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. SunTrust Banks’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 earnings per share.
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in SunTrust Banks by 4.2% in the second quarter. Vanguard Group Inc. now owns 32,829,325 shares of the financial services provider’s stock valued at $1,348,629,000 after buying an additional 1,335,505 shares during the last quarter. FMR LLC increased its position in SunTrust Banks by 6.5% in the second quarter. FMR LLC now owns 31,288,755 shares of the financial services provider’s stock valued at $1,285,342,000 after buying an additional 1,918,166 shares during the last quarter. American Century Companies Inc. increased its position in SunTrust Banks by 64.4% in the second quarter. American Century Companies Inc. now owns 8,267,226 shares of the financial services provider’s stock valued at $339,618,000 after buying an additional 3,238,624 shares during the last quarter. BlackRock Investment Management LLC increased its position in SunTrust Banks by 10.8% in the second quarter. BlackRock Investment Management LLC now owns 7,702,533 shares of the financial services provider’s stock valued at $316,420,000 after buying an additional 749,340 shares during the last quarter. Finally, Boston Partners increased its position in SunTrust Banks by 5.5% in the second quarter. Boston Partners now owns 7,154,401 shares of the financial services provider’s stock valued at $293,903,000 after buying an additional 374,253 shares during the last quarter. 82.37% of the stock is currently owned by institutional investors.
In other news, insider Susan S. Johnson sold 1,118 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total value of $47,403.20. Following the transaction, the insider now owns 1,119 shares of the company’s stock, valued at $47,445.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a $0.26 dividend. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, August 29th. This represents a $1.04 annualized dividend and a dividend yield of 2.31%. SunTrust Banks’s dividend payout ratio is presently 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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