Brokerages Anticipate SunTrust Banks, Inc. (STI) Will Announce Quarterly Sales of $2.30 Billion

Wall Street brokerages forecast that SunTrust Banks, Inc. (NYSE:STI) will post $2.30 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for SunTrust Banks’ earnings. The lowest sales estimate is $2.26 billion and the highest is $2.36 billion. SunTrust Banks posted sales of $2.16 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.5%. The firm is scheduled to report its next quarterly earnings results before the market opens on Friday, January 19th.

According to Zacks, analysts expect that SunTrust Banks will report full-year sales of $2.30 billion for the current year, with estimates ranging from $8.97 billion to $9.15 billion. For the next financial year, analysts forecast that the firm will post sales of $9.41 billion per share, with estimates ranging from $9.30 billion to $9.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover SunTrust Banks.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. SunTrust Banks’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS.

STI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Friday, September 22nd. Nomura raised their target price on shares of SunTrust Banks from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, September 28th. Instinet reiterated a “neutral” rating and issued a $63.00 target price (up from $62.00) on shares of SunTrust Banks in a research note on Saturday, September 30th. Robert W. Baird reiterated a “hold” rating and issued a $55.00 target price on shares of SunTrust Banks in a research note on Sunday, October 1st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $62.00 target price on shares of SunTrust Banks in a research note on Tuesday, October 3rd. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.88.

In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’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 disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fiduciary Trust Co. bought a new position in shares of SunTrust Banks in the second quarter worth about $118,000. Advisory Services Network LLC raised its stake in shares of SunTrust Banks by 0.9% in the second 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 during the last quarter. Westwood Holdings Group Inc. bought a new position in shares of SunTrust Banks in the second quarter worth about $136,000. Dupont Capital Management Corp raised its stake 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 acquiring an additional 933 shares during the last quarter. Finally, Blue Granite Capital LLC acquired a new stake in shares of SunTrust Banks during the 3rd quarter worth approximately $177,000. 80.69% of the stock is owned by institutional investors.

SunTrust Banks (STI) traded up $0.05 during trading on Monday, hitting $65.91. 4,768,300 shares of the stock were exchanged, compared to its average volume of 4,643,425. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $67.02. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. The company has a market cap of $31,580.00, a P/E ratio of 16.90, a P/E/G ratio of 1.58 and a beta of 1.29.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Wednesday, November 29th. SunTrust Banks’s dividend payout ratio is currently 41.03%.

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

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