FY2016 EPS Estimates for SunTrust Banks Inc. (STI) Increased by Analyst
SunTrust Banks Inc. (NYSE:STI) – Research analysts at Jefferies Group increased their FY2016 EPS estimates for shares of SunTrust Banks in a research report issued to clients and investors on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the brokerage will post earnings per share of $3.53 for the year, up from their prior forecast of $3.50.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. SunTrust Banks had a net margin of 22.31% and a return on equity of 8.53%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS.
A number of other equities analysts have also recently commented on STI. Portales Partners upgraded shares of SunTrust Banks from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, June 28th. BMO Capital Markets restated a “hold” rating and issued a $44.00 price objective on shares of SunTrust Banks in a research report on Thursday, July 7th. Wells Fargo & Co. restated a “buy” rating on shares of SunTrust Banks in a research report on Sunday, July 10th. Barclays PLC reiterated an “equal weight” rating and set a $46.00 price target on shares of SunTrust Banks in a research report on Sunday, July 10th. Finally, Nomura reiterated a “hold” rating on shares of SunTrust Banks in a research report on Saturday, July 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. SunTrust Banks presently has a consensus rating of “Buy” and a consensus price target of $44.91.
SunTrust Banks (NYSE:STI) opened at 45.03 on Friday. The stock’s 50 day moving average is $44.17 and its 200-day moving average is $41.98. The company has a market cap of $22.58 billion, a PE ratio of 12.19 and a beta of 1.31. SunTrust Banks has a 52-week low of $31.07 and a 52-week high of $46.47.
A number of large investors have recently modified their holdings of STI. Riverhead Capital Management LLC raised its stake in shares of SunTrust Banks by 274.1% in the first quarter. Riverhead Capital Management LLC now owns 532,796 shares of the financial services provider’s stock valued at $19,223,000 after buying an additional 390,390 shares during the last quarter. Pictet Asset Management Ltd. raised its stake 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 last quarter. Scotia Capital Inc. raised its stake 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 last quarter. Rafferty Asset Management LLC raised its stake 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 last quarter. Finally, Pegasus Partners Ltd. acquired a new stake in SunTrust Banks during the first quarter worth about $574,000. 82.37% of the stock is owned by institutional investors.
In related 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 value of $47,403.20. Following the completion of the sale, the insider now owns 1,119 shares of the company’s stock, valued at approximately $47,445.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.67% of the company’s stock.
SunTrust Banks Company Profile
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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