SunTrust Banks (STI) Given Daily Coverage Optimism Score of 0.30
News coverage about SunTrust Banks (NYSE:STI) has trended positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. SunTrust Banks earned a media sentiment score of 0.30 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 44.0314392818371 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s analysis:
- Remarkable Stock Buzz: Athersys, Inc. (NASDAQ:ATHX), SunTrust Banks, Inc. (NYSE:STI), BGC Partners, Inc … – Market Breaking Point (press release) (journalfinance.net)
- Book Profits On PNC, SunTrust And Three Other Regional Banks, Pre-Earnings (finance.yahoo.com)
- Jefferies Group Weighs in on SunTrust Banks, Inc.’s FY2017 Earnings (STI) (americanbankingnews.com)
- SunTrust Banks, Inc. Forecasted to Post Q3 2017 Earnings of $1.08 Per Share (STI) (americanbankingnews.com)
- SunTrust Banks, Inc. (STI) Set to Announce Quarterly Earnings on Thursday (americanbankingnews.com)
A number of analysts recently issued reports on the company. Citigroup Inc. reissued a “neutral” rating and set a $63.00 price objective (up previously from $60.00) on shares of SunTrust Banks in a report on Monday. Credit Suisse Group raised SunTrust Banks from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $56.00 to $60.00 in a report on Monday. Zacks Investment Research cut SunTrust Banks from a “buy” rating to a “hold” rating in a report on Wednesday. UBS AG reissued a “neutral” rating and set a $62.00 price objective (up previously from $61.00) on shares of SunTrust Banks in a report on Friday, October 6th. Finally, FBR & Co cut SunTrust Banks from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a report on Tuesday. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $62.48.
SunTrust Banks (STI) opened at 59.67 on Friday. The company has a market capitalization of $28.74 billion, a price-to-earnings ratio of 15.87 and a beta of 1.31. SunTrust Banks has a 12 month low of $44.45 and a 12 month high of $61.69. The stock’s 50 day moving average price is $56.94 and its 200 day moving average price is $56.27.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, July 21st. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.29 billion. SunTrust Banks had a return on equity of 8.48% and a net margin of 20.51%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. Equities research analysts anticipate that SunTrust Banks will post $4.05 earnings per share for the current fiscal year.
SunTrust Banks announced that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to repurchase $1.32 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a $0.40 dividend. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.26. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Tuesday, August 29th. SunTrust Banks’s payout ratio is currently 42.67%.
In related news, insider Susan S. Johnson sold 808 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $57.34, for a total value of $46,330.72. Following the sale, the insider now directly owns 3,515 shares in the company, valued at $201,550.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by insiders.
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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