Wall Street brokerages predict that SunTrust Banks, Inc. (NYSE:STI) will post sales of $2.30 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for SunTrust Banks’ earnings, with the lowest sales estimate coming in at $2.28 billion and the highest estimate coming in at $2.32 billion. SunTrust Banks reported sales of $2.24 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, April 18th.

On average, analysts expect that SunTrust Banks will report full year sales of $9.50 billion for the current year, with estimates ranging from $9.42 billion to $9.59 billion. For the next financial year, analysts anticipate that the business will post sales of $9.76 billion, with estimates ranging from $9.63 billion to $9.97 billion. Zacks’ sales averages are an average based on a survey of analysts that follow SunTrust Banks.

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

A number of equities analysts recently issued reports on STI shares. Sanford C. Bernstein cut SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 price objective for the company. in a report on Friday, February 8th. Keefe, Bruyette & Woods cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Friday, February 8th. BMO Capital Markets lifted their target price on SunTrust Banks from $61.00 to $73.00 and gave the company a “market perform” rating in a research report on Monday, February 11th. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Saturday, January 5th. Finally, Jefferies Financial Group lowered SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $70.96.

STI traded up $0.42 during trading hours on Friday, reaching $63.71. 151,688 shares of the company’s stock traded hands, compared to its average volume of 3,627,955. SunTrust Banks has a 52-week low of $46.05 and a 52-week high of $75.08. 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 stock has a market cap of $28.05 billion, a P/E ratio of 11.18, a PEG ratio of 1.37 and a beta of 1.53.

In other news, Vice Chairman Mark A. Chancy sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $65.38, for a total value of $653,800.00. Following the completion of the transaction, the insider now directly owns 205,846 shares of the company’s stock, valued at approximately $13,458,211.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jorge Arrieta sold 4,000 shares of the business’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 completion of the transaction, the executive vice president now directly owns 8,662 shares of the company’s stock, valued at $573,857.50. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Manhattan Co. grew its stake in SunTrust Banks by 1.5% during the 1st quarter. First Manhattan Co. now owns 13,154 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 198 shares during the last quarter. Rowland & Co. Investment Counsel ADV grew its stake in SunTrust Banks by 0.3% during the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 66,070 shares of the financial services provider’s stock valued at $3,333,000 after purchasing an additional 204 shares during the last quarter. JOYN Advisors Inc. grew its stake in SunTrust Banks by 14.5% during the 4th quarter. JOYN Advisors Inc. now owns 1,718 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 218 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its stake in SunTrust Banks by 1.9% during the 4th quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 11,806 shares of the financial services provider’s stock valued at $595,000 after purchasing an additional 219 shares during the last quarter. Finally, Berkeley Capital Partners LLC grew its stake in SunTrust Banks by 4.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 5,307 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 222 shares during the last quarter. 81.15% of the stock is owned by hedge funds and other institutional investors.

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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