SunTrust Banks Inc. (NYSE:STI) – Stock analysts at Jefferies Group decreased their FY2016 earnings per share estimates for shares of SunTrust Banks in a research note issued to investors on Friday. Jefferies Group analyst K. Usdin now expects that the brokerage will post earnings per share of $3.50 for the year, down from their prior forecast of $3.55. Jefferies Group also issued estimates for SunTrust Banks’ FY2018 earnings at $3.95 EPS.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Wednesday, September 21st. Wells Fargo & Co. reaffirmed a “buy” rating on shares of SunTrust Banks in a research note on Sunday, July 10th. Credit Agricole SA lifted their target price on shares of SunTrust Banks from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, September 23rd. Barclays PLC reaffirmed an “equal weight” rating and set a $46.00 target price on shares of SunTrust Banks in a research note on Sunday, July 10th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of SunTrust Banks in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $44.91.
SunTrust Banks (NYSE:STI) opened at 45.63 on Monday. 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 $43.95 and its 200 day moving average is $41.88. The firm has a market capitalization of $22.88 billion, a P/E ratio of 12.36 and a beta of 1.31.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. SunTrust Banks had a net margin of 22.31% and a return on equity of 8.53%. The company earned $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 29th. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.28%. SunTrust Banks’s payout ratio is currently 28.18%.
In other news, insider Susan S. Johnson sold 1,118 shares of the business’s stock in a transaction dated 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 $47,445.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.67% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. AXA acquired a new position in shares of SunTrust Banks during the second quarter worth about $127,000. Amica Retiree Medical Trust acquired a new position in shares of SunTrust Banks during the second quarter worth about $129,000. Euclid Advisors LLC acquired a new position in shares of SunTrust Banks during the second quarter worth about $140,000. Balentine LLC increased its position in shares of SunTrust Banks by 13.0% in the first quarter. Balentine LLC now owns 4,254 shares of the financial services provider’s stock worth $153,000 after buying an additional 488 shares during the period. Finally, Washington Trust Bank increased its position in shares of SunTrust Banks by 2.1% in the second quarter. Washington Trust Bank now owns 4,420 shares of the financial services provider’s stock worth $182,000 after buying an additional 90 shares during the period. 82.37% of the stock is owned by institutional investors and hedge funds.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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