SunTrust Banks (STI) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

SunTrust Banks (NYSE:STI) posted its quarterly earnings data on Friday. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04, Bloomberg Earnings reports. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.32 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS.

SunTrust Banks (NYSE:STI) opened at $68.58 on Friday. SunTrust Banks has a one year low of $51.96 and a one year high of $69.56. The company has a market capitalization of $32,650.00, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.36 and a beta of 1.29. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.

Several equities research analysts recently issued reports on the company. BMO Capital Markets reiterated a “hold” rating and issued a $79.00 price objective on shares of SunTrust Banks in a report on Sunday. Vining Sparks reiterated a “buy” rating and issued a $85.00 price objective on shares of SunTrust Banks in a report on Monday, January 8th. Morgan Stanley upgraded SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price objective on the stock in a report on Monday, January 8th. Credit Suisse Group reiterated a “hold” rating and issued a $68.00 price objective on shares of SunTrust Banks in a report on Thursday, January 4th. Finally, Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Friday, January 5th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.40.

In related news, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its position in shares of SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. Balentine LLC boosted its position in shares of SunTrust Banks by 2.9% during the 2nd quarter. Balentine LLC now owns 3,148 shares of the financial services provider’s stock worth $179,000 after acquiring an additional 90 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of SunTrust Banks by 1.8% during the 2nd quarter. Krilogy Financial LLC now owns 5,153 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 90 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in shares of SunTrust Banks by 1.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 18,320 shares of the financial services provider’s stock worth $1,039,000 after acquiring an additional 310 shares in the last quarter. Finally, Investec Asset Management PTY Ltd boosted its position in shares of SunTrust Banks by 3.4% during the 3rd quarter. Investec Asset Management PTY Ltd now owns 28,280 shares of the financial services provider’s stock worth $1,688,000 after acquiring an additional 926 shares in the last quarter. 80.71% of the stock is owned by institutional investors and hedge funds.

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SunTrust Banks Company Profile

SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.

Earnings History for SunTrust Banks (NYSE:STI)

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