SunTrust Banks, Inc. (NYSE:STI) – Equities researchers at Wedbush lowered their Q3 2018 EPS estimates for SunTrust Banks in a research note issued to investors on Wednesday, September 12th. Wedbush analyst P. Winter now forecasts that the financial services provider will post earnings per share of $1.41 for the quarter, down from their previous estimate of $1.44. Wedbush currently has a “Hold” rating and a $75.00 target price on the stock. Wedbush also issued estimates for SunTrust Banks’ Q4 2018 earnings at $1.43 EPS, FY2018 earnings at $5.61 EPS, Q1 2019 earnings at $1.23 EPS, Q2 2019 earnings at $1.48 EPS, Q3 2019 earnings at $1.56 EPS, Q4 2019 earnings at $1.62 EPS, FY2019 earnings at $5.89 EPS and FY2020 earnings at $6.37 EPS.

SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, July 20th. The financial services provider reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.19. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. SunTrust Banks had a net margin of 26.41% and a return on equity of 10.94%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS.

A number of other equities analysts have also weighed in on the stock. Piper Jaffray Companies lowered shares of SunTrust Banks from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $76.00 to $74.00 in a research note on Thursday. Edward Jones assumed coverage on shares of SunTrust Banks in a research note on Tuesday, August 28th. They issued a “hold” rating for the company. Argus upped their target price on shares of SunTrust Banks to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Morgan Stanley upped their target price on shares of SunTrust Banks from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of SunTrust Banks in a research note on Tuesday, July 24th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the stock. SunTrust Banks has an average rating of “Hold” and an average target price of $72.73.

Shares of NYSE STI opened at $68.59 on Monday. The firm has a market capitalization of $32.89 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.09 and a beta of 1.26. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.94 and a quick ratio of 0.92. SunTrust Banks has a 1-year low of $54.35 and a 1-year high of $75.08.

SunTrust Banks announced that its Board of Directors has initiated a stock buyback plan on Thursday, June 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.92%. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, August 30th. SunTrust Banks’s dividend payout ratio is currently 49.50%.

In other news, EVP Jorge Arrieta sold 2,500 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $73.13, for a total transaction of $182,825.00. Following the completion of the transaction, the executive vice president now directly owns 6,148 shares in the company, valued at approximately $449,603.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

A number of large investors have recently modified their holdings of STI. Argent Trust Co lifted its stake in SunTrust Banks by 37.3% in the 4th quarter. Argent Trust Co now owns 4,715 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 1,281 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in SunTrust Banks by 164.3% in the 1st quarter. Neuberger Berman Group LLC now owns 855,031 shares of the financial services provider’s stock valued at $58,176,000 after purchasing an additional 531,467 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in SunTrust Banks by 42.4% in the 1st quarter. Teacher Retirement System of Texas now owns 184,396 shares of the financial services provider’s stock valued at $12,546,000 after purchasing an additional 54,867 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in SunTrust Banks by 10.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 103,853 shares of the financial services provider’s stock valued at $7,055,000 after purchasing an additional 9,624 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in SunTrust Banks by 17.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,745 shares of the financial services provider’s stock valued at $2,296,000 after purchasing an additional 5,025 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

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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Earnings History and Estimates for SunTrust Banks (NYSE:STI)

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