SunTrust Banks, Inc. (NYSE:STI) – Research analysts at Jefferies Financial Group lowered their Q4 2019 earnings per share estimates for shares of SunTrust Banks in a research report issued to clients and investors on Monday, April 22nd. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $1.50 for the quarter, down from their prior estimate of $1.51. Jefferies Financial Group has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for SunTrust Banks’ FY2021 earnings at $6.55 EPS.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.34 billion. SunTrust Banks had a return on equity of 12.22% and a net margin of 25.26%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share.
Shares of NYSE STI opened at $63.54 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.94. The stock has a market capitalization of $28.14 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.40 and a beta of 1.53. SunTrust Banks has a fifty-two week low of $46.05 and a fifty-two week high of $75.08.
Large investors have recently made changes to their positions in the business. JOYN Advisors Inc. lifted its holdings in SunTrust Banks by 14.5% in the fourth quarter. JOYN Advisors Inc. now owns 1,718 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 218 shares during the period. Alpha Windward LLC lifted its holdings in SunTrust Banks by 2,274.4% in the fourth quarter. Alpha Windward LLC now owns 11,492 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 11,008 shares during the period. Kessler Investment Group LLC lifted its holdings in SunTrust Banks by 64.0% in the first quarter. Kessler Investment Group LLC now owns 1,048 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 409 shares during the period. Rowland & Co. Investment Counsel ADV increased its position in shares of SunTrust Banks by 0.5% in the first quarter. Rowland & Co. Investment Counsel ADV now owns 66,428 shares of the financial services provider’s stock valued at $3,936,000 after buying an additional 358 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of SunTrust Banks by 3.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 26,593 shares of the financial services provider’s stock valued at $1,341,000 after buying an additional 882 shares in the last quarter. 81.15% of the stock is owned by institutional investors.
In other SunTrust Banks news, EVP Jorge Arrieta sold 4,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The shares were 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 $13,458,211.48. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.15%. SunTrust Banks’s payout ratio is presently 35.09%.
About SunTrust Banks
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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