Q1 2018 Earnings Estimate for SunTrust Banks, Inc. (STI) Issued By Wedbush
SunTrust Banks, Inc. (NYSE:STI) – Investment analysts at Wedbush upped their Q1 2018 earnings per share estimates for shares of SunTrust Banks in a research report issued to clients and investors on Monday. Wedbush analyst P. Winter now expects that the financial services provider will post earnings of $1.13 per share for the quarter, up from their prior forecast of $1.05. Wedbush currently has a “Neutral” rating and a $63.00 price target on the stock. Wedbush also issued estimates for SunTrust Banks’ Q2 2018 earnings at $1.27 EPS, Q3 2018 earnings at $1.35 EPS, Q4 2018 earnings at $1.37 EPS, FY2018 earnings at $5.11 EPS, Q1 2019 earnings at $1.18 EPS, Q2 2019 earnings at $1.35 EPS, Q3 2019 earnings at $1.45 EPS, Q4 2019 earnings at $1.52 EPS and FY2019 earnings at $5.49 EPS.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The company 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 earned $0.90 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year.
SunTrust Banks (NYSE:STI) opened at $69.88 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. SunTrust Banks has a twelve month low of $51.96 and a twelve month high of $69.88. The company has a market cap of $33,270.00, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.36 and a beta of 1.29.
In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of SunTrust Banks stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. Advisory Services Network LLC lifted its holdings in SunTrust Banks by 0.9% during the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 20 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of SunTrust Banks in the second quarter worth $136,000. Dupont Capital Management Corp lifted its holdings in shares of SunTrust Banks by 55.2% in the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after buying an additional 933 shares in the last quarter. Blue Granite Capital LLC purchased a new position in shares of SunTrust Banks in the third quarter worth $177,000. Finally, Balentine LLC lifted its holdings in shares of SunTrust Banks by 2.9% in the second quarter. Balentine LLC now owns 3,148 shares of the financial services provider’s stock worth $179,000 after buying an additional 90 shares in the last quarter. 80.65% of the stock is currently 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.
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