SunTrust Banks (NYSE:STI) will be announcing its earnings results before the market opens on Friday, October 19th. Analysts expect the company to announce earnings of $1.39 per share for the quarter.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, July 20th. The financial services provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.19. SunTrust Banks had a net margin of 26.41% and a return on equity of 10.94%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts expect SunTrust Banks to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Shares of NYSE:STI opened at $62.42 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.54. SunTrust Banks has a 1-year low of $56.30 and a 1-year high of $75.08. The company has a market cap of $30.77 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.03 and a beta of 1.29.
SunTrust Banks declared that its Board of Directors has authorized a stock repurchase plan on Thursday, June 28th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Jorge Arrieta sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $73.13, for a total value of $182,825.00. Following the transaction, the executive vice president now owns 6,148 shares of the company’s stock, valued at $449,603.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by insiders.
Several equities analysts have weighed in on STI shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price target on shares of SunTrust Banks in a report on Monday, October 8th. Morgan Stanley lifted their price target on shares of SunTrust Banks from $80.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 24th. Sanford C. Bernstein raised shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 27th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $79.00 price target on shares of SunTrust Banks in a report on Monday, July 23rd. Finally, Wedbush set a $75.00 price target on shares of SunTrust Banks and gave the company a “hold” rating in a report on Thursday, September 13th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $74.32.
About SunTrust Banks
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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