Wall Street brokerages expect SunTrust Banks, Inc. (NYSE:STI) to announce earnings of $1.46 per share for the current quarter, according to Zacks. Seven analysts have made estimates for SunTrust Banks’ earnings, with the lowest EPS estimate coming in at $1.40 and the highest estimate coming in at $1.49. SunTrust Banks posted earnings of $1.49 per share during the same quarter last year, which indicates a negative year over year growth rate of 2%. The business is scheduled to issue its next earnings report before the market opens on Thursday, July 18th.
According to Zacks, analysts expect that SunTrust Banks will report full-year earnings of $5.69 per share for the current financial year, with EPS estimates ranging from $5.43 to $5.81. For the next year, analysts expect that the business will post earnings of $5.83 per share, with EPS estimates ranging from $5.48 to $6.35. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for SunTrust Banks.
SunTrust Banks (NYSE:STI) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.39 billion. SunTrust Banks had a return on equity of 12.22% and a net margin of 25.26%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 EPS.
In related news, EVP Jorge Arrieta sold 6,606 shares of SunTrust Banks stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $63.46, for a total transaction of $419,216.76. Following the sale, the executive vice president now directly owns 2,556 shares in the company, valued at $162,203.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Ryan Richards sold 1,844 shares of SunTrust Banks stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $62.58, for a total transaction of $115,397.52. Following the sale, the insider now owns 2,083 shares in the company, valued at $130,354.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,332 shares of company stock worth $3,177,368. Insiders own 0.42% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Arcus Capital Partners LLC lifted its holdings in SunTrust Banks by 1.7% in the 1st quarter. Arcus Capital Partners LLC now owns 9,972 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 164 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in SunTrust Banks by 1.1% in the 1st quarter. Independence Bank of Kentucky now owns 15,830 shares of the financial services provider’s stock worth $938,000 after purchasing an additional 165 shares during the last quarter. Eqis Capital Management Inc. lifted its holdings in SunTrust Banks by 2.8% in the 1st quarter. Eqis Capital Management Inc. now owns 6,227 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 168 shares during the last quarter. Magnus Financial Group LLC lifted its holdings in SunTrust Banks by 3.6% in the 1st quarter. Magnus Financial Group LLC now owns 5,527 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 192 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its holdings in SunTrust Banks by 2.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 8,391 shares of the financial services provider’s stock worth $527,000 after purchasing an additional 193 shares during the last quarter. 80.21% of the stock is currently owned by hedge funds and other institutional investors.
STI traded up $1.75 during midday trading on Thursday, reaching $65.74. 3,955,800 shares of the company were exchanged, compared to its average volume of 3,576,888. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a fifty day moving average of $63.11. The company has a market cap of $28.37 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. SunTrust Banks has a one year low of $46.05 and a one year high of $75.08.
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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