The Brokers Issue Forecasts for SunTrust Banks Inc.’s Q4 2016 Earnings (STI)

The Brokers Issue Forecasts for SunTrust Banks Inc.’s Q4 2016 Earnings (STI)

SunTrust Banks Inc. (NYSE:STI) – Stock analysts at Jefferies Group lowered their Q4 2016 earnings estimates for SunTrust Banks in a research report issued on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the firm will post earnings per share of $0.85 for the quarter, down from their previous 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.

Other analysts have also issued research reports about the company. Compass Point upped their price objective on SunTrust Banks from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, July 26th. Goldman Sachs Group Inc. lowered SunTrust Banks from a “conviction-buy” rating to a “buy” rating and upped their price objective for the company from $44.00 to $46.00 in a research note on Monday, July 25th. Wells Fargo & Co. restated a “buy” rating on shares of SunTrust Banks in a research note on Sunday, July 10th. Deutsche Bank AG restated a “buy” rating on shares of SunTrust Banks in a research note on Wednesday, June 15th. Finally, Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, September 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.91.

Shares of SunTrust Banks (NYSE:STI) traded down 2.56% during mid-day trading on Thursday, reaching $44.53. The company had a trading volume of 2,076,629 shares. SunTrust Banks has a 12-month low of $31.07 and a 12-month high of $46.47. The firm’s 50 day moving average is $44.04 and its 200-day moving average is $41.90. The stock has a market capitalization of $22.33 billion, a P/E ratio of 12.06 and a beta of 1.31.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The business 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 quarter in the previous year, the firm earned $0.89 EPS.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. raised its position in shares of SunTrust Banks by 0.5% in the first quarter. Panagora Asset Management Inc. now owns 2,371,568 shares of the financial services provider’s stock valued at $85,566,000 after buying an additional 11,760 shares in the last quarter. Endeavour Capital Advisors Inc. raised its position in shares of SunTrust Banks by 69.1% in the first quarter. Endeavour Capital Advisors Inc. now owns 912,310 shares of the financial services provider’s stock valued at $32,916,000 after buying an additional 372,871 shares in the last quarter. Standard Life Investments LTD raised its position in shares of SunTrust Banks by 0.6% in the second quarter. Standard Life Investments LTD now owns 2,153,447 shares of the financial services provider’s stock valued at $88,496,000 after buying an additional 11,808 shares in the last quarter. AMP Capital Investors Ltd raised its position in shares of SunTrust Banks by 10.7% in the first quarter. AMP Capital Investors Ltd now owns 294,737 shares of the financial services provider’s stock valued at $10,755,000 after buying an additional 28,469 shares in the last quarter. Finally, Pegasus Partners Ltd. raised its position in shares of SunTrust Banks by 14.9% in the second quarter. Pegasus Partners Ltd. now owns 18,270 shares of the financial services provider’s stock valued at $751,000 after buying an additional 2,365 shares in the last quarter. 82.37% of the stock is owned by institutional investors and hedge funds.

In related news, insider Susan S. Johnson sold 1,118 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total transaction of $47,403.20. Following the completion of the transaction, the insider now directly owns 1,119 shares of the company’s stock, valued at approximately $47,445.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.67% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.26 per share. This is a positive change from SunTrust Banks’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 2.28%. The ex-dividend date was Monday, August 29th. SunTrust Banks’s dividend payout ratio (DPR) is currently 28.18%.

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