Wall Street brokerages expect that SunTrust Banks, Inc. (NYSE:STI) will report sales of $2.31 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for SunTrust Banks’ earnings, with estimates ranging from $2.30 billion to $2.33 billion. SunTrust Banks posted sales of $2.24 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.1%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, April 18th.

On average, analysts expect that SunTrust Banks will report full-year sales of $9.54 billion for the current year, with estimates ranging from $9.42 billion to $9.60 billion. For the next fiscal year, analysts expect that the company will post sales of $9.84 billion, with estimates ranging from $9.70 billion to $9.97 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for SunTrust Banks.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, January 18th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share.

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Co restated a “buy” rating on shares of SunTrust Banks in a research report on Monday. Morgan Stanley restated an “equal weight” rating and issued a $73.00 price target (down from $80.00) on shares of SunTrust Banks in a research report on Monday, March 11th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Saturday, January 5th. ValuEngine upgraded SunTrust Banks from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Finally, Macquarie upgraded SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 price objective on the stock in a report on Friday, February 8th. Sixteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $71.20.

STI stock opened at $61.30 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $27.96 billion, a PE ratio of 10.75, a P/E/G ratio of 1.33 and a beta of 1.55. SunTrust Banks has a 1 year low of $46.05 and a 1 year high of $75.08.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Wednesday, February 27th. SunTrust Banks’s dividend payout ratio is presently 35.09%.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $65.38, for a total transaction of $653,800.00. Following the transaction, the insider now directly owns 205,846 shares in the company, valued at $13,458,211.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jorge Arrieta sold 4,000 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $66.25, for a total value of $265,000.00. Following the transaction, the executive vice president now owns 8,662 shares in the company, valued at $573,857.50. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of SunTrust Banks by 2.2% in the third quarter. Vanguard Group Inc. now owns 36,403,676 shares of the financial services provider’s stock valued at $2,431,401,000 after acquiring an additional 793,283 shares in the last quarter. Vanguard Group Inc raised its stake in shares of SunTrust Banks by 2.2% in the third quarter. Vanguard Group Inc now owns 36,403,676 shares of the financial services provider’s stock valued at $2,431,401,000 after acquiring an additional 793,283 shares in the last quarter. Capital International Investors purchased a new position in SunTrust Banks in the third quarter valued at $441,578,000. Geode Capital Management LLC increased its holdings in SunTrust Banks by 12.2% in the fourth quarter. Geode Capital Management LLC now owns 6,297,205 shares of the financial services provider’s stock valued at $317,113,000 after buying an additional 684,600 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in SunTrust Banks by 9.1% in the fourth quarter. Northern Trust Corp now owns 5,573,625 shares of the financial services provider’s stock valued at $281,133,000 after buying an additional 463,087 shares during the last quarter. Institutional investors and hedge funds own 80.05% of the company’s stock.

SunTrust Banks Company Profile

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.

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Earnings History and Estimates for SunTrust Banks (NYSE:STI)

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