SunTrust Banks, Inc. (NYSE:STI) – Equities researchers at FIG Partners cut their Q2 2019 EPS estimates for shares of SunTrust Banks in a research note issued to investors on Friday, February 8th, Zacks Investment Research reports. FIG Partners analyst C. Marinac now forecasts that the financial services provider will post earnings of $1.42 per share for the quarter, down from their prior forecast of $1.44. FIG Partners also issued estimates for SunTrust Banks’ Q4 2019 earnings at $1.50 EPS.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, January 18th. The financial services provider reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.10. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share.
Other equities analysts also recently issued reports about the company. ValuEngine upgraded SunTrust Banks from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Macquarie upgraded SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 target price for the company in a research note on Friday, February 8th. BMO Capital Markets decreased their target price on SunTrust Banks from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Monday, October 22nd. Zacks Investment Research downgraded SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Finally, Robert W. Baird downgraded SunTrust Banks from an “outperform” rating to a “neutral” rating and set a $61.90 target price for the company. in a research note on Monday, January 28th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.02.
NYSE:STI opened at $65.12 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.95 and a quick ratio of 0.94. SunTrust Banks has a one year low of $46.05 and a one year high of $75.08. The stock has a market capitalization of $24.27 billion, a P/E ratio of 11.42, a PEG ratio of 1.33 and a beta of 1.51.
A number of large investors have recently made changes to their positions in STI. Capital International Investors bought a new stake in SunTrust Banks during the third quarter worth approximately $441,578,000. Oregon Public Employees Retirement Fund grew its position in SunTrust Banks by 4,883.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,581,469 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 2,529,671 shares in the last quarter. Bessemer Group Inc. grew its position in SunTrust Banks by 21,740.3% during the 4th quarter. Bessemer Group Inc. now owns 1,416,126 shares of the financial services provider’s stock worth $71,429,000 after purchasing an additional 1,409,642 shares in the last quarter. Two Sigma Advisers LP grew its position in SunTrust Banks by 229.4% during the 4th quarter. Two Sigma Advisers LP now owns 1,766,609 shares of the financial services provider’s stock worth $89,108,000 after purchasing an additional 1,230,300 shares in the last quarter. Finally, Vanguard Group Inc grew its position in SunTrust Banks by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 36,403,676 shares of the financial services provider’s stock worth $2,431,401,000 after purchasing an additional 793,283 shares in the last quarter. 83.02% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.07%. SunTrust Banks’s payout ratio is 35.09%.
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.
