SunTrust Banks, Inc. (NYSE:STI) – Research analysts at Jefferies Financial Group dropped their FY2019 earnings per share (EPS) estimates for shares of SunTrust Banks in a report issued on Tuesday, July 9th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will earn $5.70 per share for the year, down from their previous forecast of $5.80. Jefferies Financial Group also issued estimates for SunTrust Banks’ FY2020 earnings at $5.85 EPS and FY2021 earnings at $6.20 EPS.
A number of other analysts also recently commented on the company. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley downgraded Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Co set a $2,100.00 price target on Amazon.com and gave the company a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $70.65.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.04. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.34 billion. SunTrust Banks had a return on equity of 12.22% and a net margin of 25.26%. SunTrust Banks’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the business posted $1.29 earnings per share.
Institutional investors have recently bought and sold shares of the company. Liberty Wealth Management LLC bought a new position in shares of SunTrust Banks in the fourth quarter worth $26,000. CNB Bank boosted its stake in SunTrust Banks by 790.0% during the first quarter. CNB Bank now owns 445 shares of the financial services provider’s stock valued at $26,000 after buying an additional 395 shares during the period. Sontag Advisory LLC bought a new stake in SunTrust Banks during the fourth quarter valued at $27,000. Resources Investment Advisors Inc. boosted its stake in SunTrust Banks by 465.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 565 shares of the financial services provider’s stock valued at $28,000 after buying an additional 465 shares during the period. Finally, Massey Quick Simon & CO. LLC bought a new stake in SunTrust Banks during the first quarter valued at $30,000. 80.16% of the stock is owned by hedge funds and other institutional investors.
In other news, Vice Chairman Mark A. Chancy sold 41,882 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $63.10, for a total value of $2,642,754.20. Following the completion of the transaction, the insider now directly owns 228,130 shares of the company’s stock, valued at $14,395,003. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Ryan Richards sold 1,844 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $62.58, for a total value of $115,397.52. Following the completion of the transaction, the insider now directly owns 2,083 shares of the company’s stock, valued at $130,354.14. The disclosure for this sale can be found here. Insiders sold 50,332 shares of company stock valued at $3,177,368 over the last three months. Company insiders own 0.42% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Thursday, May 30th. SunTrust Banks’s dividend payout ratio is currently 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, 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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