SunTrust Banks (NYSE:STI) – Analysts at Jefferies Group upped their FY2018 earnings estimates for SunTrust Banks in a report issued on Sunday, April 22nd. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings per share of $5.25 for the year, up from their prior estimate of $5.10. Jefferies Group also issued estimates for SunTrust Banks’ Q4 2018 earnings at $1.39 EPS.
Other research analysts have also issued reports about the stock. Stephens lowered shares of SunTrust Banks from an “overweight” rating to an “equal weight” rating in a research note on Monday. They noted that the move was a valuation call. Credit Suisse Group restated a “neutral” rating and set a $73.00 price objective (up from $71.00) on shares of SunTrust Banks in a research note on Wednesday, March 14th. ValuEngine lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Friday, January 5th. Finally, BMO Capital Markets restated a “hold” rating and set a $79.00 price objective on shares of SunTrust Banks in a research note on Sunday, January 21st. Eighteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $70.50.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.18. SunTrust Banks had a net margin of 24.92% and a return on equity of 10.05%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business earned $0.91 EPS. The company’s revenue was up .4% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC boosted its holdings in SunTrust Banks by 107.5% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 843 shares during the period. Icon Wealth Partners LLC bought a new stake in SunTrust Banks in the 4th quarter valued at about $156,000. Avestar Capital LLC bought a new stake in SunTrust Banks in the 4th quarter valued at about $162,000. Quantitative Systematic Strategies LLC bought a new stake in SunTrust Banks in the 4th quarter valued at about $202,000. Finally, WealthTrust Axiom LLC bought a new stake in SunTrust Banks in the 4th quarter valued at about $202,000. 83.88% of the stock is owned by hedge funds and other institutional investors.
In other SunTrust Banks news, insider Susan S. Johnson sold 3,600 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.04, for a total value of $255,744.00. Following the completion of the sale, the insider now owns 8,857 shares of the company’s stock, valued at approximately $629,201.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Mark A. Chancy sold 7,500 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $70.13, for a total transaction of $525,975.00. Following the completion of the sale, the insider now directly owns 149,955 shares of the company’s stock, valued at approximately $10,516,344.15. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.37%. SunTrust Banks’s dividend payout ratio (DPR) is currently 39.60%.
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SunTrust Banks Company Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through 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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