SunTrust Banks Inc. (NYSE:STI) – Equities research analysts at FBR & Co issued their Q1 2018 earnings estimates for SunTrust Banks in a research report issued on Monday. FBR & Co analyst S. Moss anticipates that the firm will post earnings of $0.91 per share for the quarter. FBR & Co currently has a “Outperform” rating and a $49.00 target price on the stock. FBR & Co also issued estimates for SunTrust Banks’ Q2 2018 earnings at $1.03 EPS, Q3 2018 earnings at $1.04 EPS and FY2018 earnings at $4.00 EPS.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company earned $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. SunTrust Banks’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share.
A number of other analysts have also recently commented on STI. Nomura reaffirmed a “hold” rating on shares of SunTrust Banks in a research report on Saturday, July 9th. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, September 21st. Deutsche Bank AG reaffirmed a “buy” rating on shares of SunTrust Banks in a research report on Wednesday, June 15th. Compass Point lifted their price target on SunTrust Banks from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 26th. Finally, Credit Agricole SA lifted their price target on SunTrust Banks from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $44.91.
SunTrust Banks (NYSE:STI) traded down 2.06% during mid-day trading on Thursday, reaching $44.76. The company had a trading volume of 4,218,391 shares. SunTrust Banks has a 52 week low of $31.07 and a 52 week high of $46.47. The firm has a market capitalization of $22.44 billion, a PE ratio of 12.12 and a beta of 1.31. The stock’s 50-day moving average price is $44.04 and its 200 day moving average price is $41.90.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STI. Pictet Asset Management Ltd. boosted its position 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 period. Scotia Capital Inc. boosted its position 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 period. Rafferty Asset Management LLC boosted its position 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 period. Pegasus Partners Ltd. purchased a new position in SunTrust Banks during the first quarter worth approximately $574,000. Finally, BB&T Securities LLC boosted its position in SunTrust Banks by 19.9% in the first quarter. BB&T Securities LLC now owns 19,611 shares of the financial services provider’s stock worth $707,000 after buying an additional 3,252 shares during the period. Institutional investors own 82.37% of the company’s stock.
In other SunTrust Banks news, insider Susan S. Johnson sold 1,118 shares of the company’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 transaction, the insider now directly owns 1,119 shares in the company, valued at $47,445.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 29th. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.32%. SunTrust Banks’s dividend payout ratio is currently 28.18%.
SunTrust Banks Company Profile