SunTrust Banks (NYSE:STI) released its earnings results on Friday. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04, Bloomberg Earnings reports. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the firm posted $0.90 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year.

Shares of SunTrust Banks (NYSE STI) traded up $0.65 during mid-day trading on Friday, reaching $68.58. The company had a trading volume of 5,100,000 shares, compared to its average volume of 4,070,000. SunTrust Banks has a 12 month low of $51.96 and a 12 month high of $69.56. The company has a market capitalization of $32,650.00, a P/E ratio of 17.58, a P/E/G ratio of 1.36 and a beta of 1.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94.

Several equities analysts have recently commented on STI shares. Nomura raised their price target on SunTrust Banks from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, September 28th. BMO Capital Markets restated a “hold” rating and set a $79.00 price target on shares of SunTrust Banks in a research note on Sunday. Robert W. Baird restated a “hold” rating and set a $55.00 price target on shares of SunTrust Banks in a research note on Sunday, October 1st. Goldman Sachs Group restated a “buy” rating and set a $74.00 price target on shares of SunTrust Banks in a research note on Thursday, January 4th. Finally, Jefferies Group restated a “buy” rating and set a $69.00 price target on shares of SunTrust Banks in a research note on Thursday, October 12th. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. SunTrust Banks currently has a consensus rating of “Hold” and a consensus target price of $68.40.

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

A number of hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in SunTrust Banks during the fourth quarter valued at about $4,747,000. State of Alaska Department of Revenue boosted its position in SunTrust Banks by 148.1% during the fourth quarter. State of Alaska Department of Revenue now owns 52,066 shares of the financial services provider’s stock valued at $3,362,000 after purchasing an additional 31,077 shares in the last quarter. Acadian Asset Management LLC boosted its position in SunTrust Banks by 97.9% during the fourth quarter. Acadian Asset Management LLC now owns 5,148 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 2,547 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in SunTrust Banks by 3.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,658,745 shares of the financial services provider’s stock valued at $107,139,000 after purchasing an additional 51,904 shares in the last quarter. Finally, National Pension Service boosted its position in SunTrust Banks by 0.8% during the fourth quarter. National Pension Service now owns 479,977 shares of the financial services provider’s stock valued at $31,002,000 after purchasing an additional 3,705 shares in the last quarter. 80.71% of the stock is currently owned by institutional investors.

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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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