Equities analysts forecast that SunTrust Banks, Inc. (NYSE:STI) will announce $2.41 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for SunTrust Banks’ earnings, with the lowest sales estimate coming in at $2.39 billion and the highest estimate coming in at $2.43 billion. SunTrust Banks posted sales of $2.29 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.2%. The business is expected to report its next earnings report on Friday, October 18th.
On average, analysts expect that SunTrust Banks will report full year sales of $9.55 billion for the current financial year, with estimates ranging from $9.47 billion to $9.63 billion. For the next year, analysts forecast that the business will post sales of $9.74 billion, with estimates ranging from $9.57 billion to $9.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover SunTrust Banks.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.39 billion. SunTrust Banks had a return on equity of 11.86% and a net margin of 23.92%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 EPS.
Several research analysts have recently issued reports on the company. Zacks Investment Research cut Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley cut Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $70.65.
Shares of NYSE:STI traded down $0.35 on Friday, hitting $65.39. 3,975,031 shares of the company’s stock were exchanged, compared to its average volume of 2,876,222. The stock’s 50-day moving average is $63.22. The stock has a market capitalization of $29.18 billion, a P/E ratio of 11.47, a PEG ratio of 1.20 and a beta of 1.48. SunTrust Banks has a 1-year low of $46.05 and a 1-year high of $75.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.98 and a quick ratio of 0.95.
In other SunTrust Banks news, insider Robert Ryan Richards sold 1,844 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $62.58, for a total transaction of $115,397.52. Following the completion of the sale, the insider now directly owns 2,083 shares of the company’s stock, valued at approximately $130,354.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jorge Arrieta sold 6,606 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $63.46, for a total value of $419,216.76. Following the sale, the executive vice president now directly owns 2,556 shares of the company’s stock, valued at $162,203.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,332 shares of company stock valued at $3,177,368. Insiders own 0.42% of the company’s stock.
A number of institutional investors have recently bought and sold shares of STI. FMR LLC raised its stake in shares of SunTrust Banks by 59.9% during the 1st quarter. FMR LLC now owns 23,269,649 shares of the financial services provider’s stock worth $1,378,727,000 after buying an additional 8,716,823 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of SunTrust Banks by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 6,297,205 shares of the financial services provider’s stock worth $317,113,000 after buying an additional 684,600 shares in the last quarter. Boston Partners raised its stake in shares of SunTrust Banks by 43.7% during the 1st quarter. Boston Partners now owns 6,241,376 shares of the financial services provider’s stock worth $369,802,000 after buying an additional 1,898,260 shares in the last quarter. CNH Partners LLC purchased a new position in shares of SunTrust Banks during the 1st quarter worth approximately $240,779,000. Finally, Norges Bank purchased a new position in shares of SunTrust Banks during the 4th quarter worth approximately $204,713,000. 80.21% of the stock is owned by institutional investors.
About SunTrust Banks
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in 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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