SunTrust Banks Inc. (NYSE:STI) – Research analysts at Jefferies Group decreased their Q4 2016 earnings per share estimates for SunTrust Banks in a research report issued on Tuesday. Jefferies Group analyst K. Usdin now expects that the brokerage will post earnings of $0.85 per share for the quarter, down from their previous estimate of $0.86. Jefferies Group also issued estimates for SunTrust Banks’ Q1 2017 earnings at $0.81 EPS, Q2 2017 earnings at $0.95 EPS, Q3 2017 earnings at $0.98 EPS and Q4 2017 earnings at $0.96 EPS.
Other research analysts have also recently issued reports about the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $43.00 target price on shares of SunTrust Banks in a report on Thursday, August 18th. Compass Point raised their target price on shares of SunTrust Banks from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, July 26th. Goldman Sachs Group Inc. cut shares of SunTrust Banks from a “conviction-buy” rating to a “buy” rating and raised their target price for the stock from $44.00 to $46.00 in a report on Monday, July 25th. Wells Fargo & Co. reiterated a “buy” rating on shares of SunTrust Banks in a report on Sunday, July 10th. Finally, Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, September 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $44.91.
Shares of SunTrust Banks (NYSE:STI) opened at 44.76 on Thursday. The stock has a 50 day moving average of $44.10 and a 200 day moving average of $41.93. SunTrust Banks has a 52-week low of $31.07 and a 52-week high of $46.47. The firm has a market cap of $22.44 billion, a price-to-earnings ratio of 12.12 and a beta of 1.31.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. SunTrust Banks had a net margin of 22.31% and a return on equity of 8.53%. The company earned $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 29th. This represents a $1.04 dividend on an annualized basis and a yield of 2.32%. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.24. SunTrust Banks’s payout ratio is currently 28.18%.
In other news, insider Susan S. Johnson sold 1,118 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $42.40, for a total value of $47,403.20. Following the sale, the insider now owns 1,119 shares in the company, valued at approximately $47,445.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.
Large investors have recently modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of SunTrust Banks by 64.4% in the second quarter. American Century Companies Inc. now owns 8,267,226 shares of the financial services provider’s stock valued at $339,618,000 after buying an additional 3,238,624 shares in the last quarter. Investec Asset Management LTD purchased a new stake in shares of SunTrust Banks during the first quarter valued at approximately $86,734,000. FMR LLC increased its stake in shares of SunTrust Banks by 6.5% in the second quarter. FMR LLC now owns 31,288,755 shares of the financial services provider’s stock valued at $1,285,342,000 after buying an additional 1,918,166 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of SunTrust Banks by 28.4% in the second quarter. Bank of New York Mellon Corp now owns 7,066,156 shares of the financial services provider’s stock valued at $290,278,000 after buying an additional 1,564,929 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of SunTrust Banks during the second quarter valued at approximately $55,797,000. Institutional investors own 82.37% of the company’s stock.
About SunTrust Banks
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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