SunTrust Banks, Inc. (NYSE:STI) – Equities research analysts at Piper Jaffray Companies reduced their Q4 2019 earnings per share estimates for SunTrust Banks in a report issued on Sunday, October 20th. Piper Jaffray Companies analyst K. Barker now anticipates that the financial services provider will post earnings of $1.25 per share for the quarter, down from their prior estimate of $1.36. Piper Jaffray Companies also issued estimates for SunTrust Banks’ Q2 2020 earnings at $1.21 EPS, Q3 2020 earnings at $1.29 EPS, Q4 2020 earnings at $1.28 EPS, FY2020 earnings at $4.92 EPS and FY2021 earnings at $5.12 EPS.
Several other research firms also recently commented on STI. UBS Group lowered their target price on shares of SunTrust Banks from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday. Argus set a $81.00 target price on shares of SunTrust Banks and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Jefferies Financial Group raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $75.00 in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. SunTrust Banks presently has an average rating of “Hold” and a consensus price target of $67.95.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.40. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. SunTrust Banks had a net margin of 22.31% and a return on equity of 11.40%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 earnings per share.
In other news, insider Ellen Koebler sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $60.84, for a total value of $243,360.00. Following the transaction, the insider now owns 1 shares of the company’s stock, valued at $60.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. raised its stake in SunTrust Banks by 3.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 304,523 shares of the financial services provider’s stock worth $18,044,000 after buying an additional 9,924 shares during the period. Thomasville National Bank raised its stake in SunTrust Banks by 3.2% during the 2nd quarter. Thomasville National Bank now owns 180,500 shares of the financial services provider’s stock worth $11,345,000 after buying an additional 5,591 shares during the period. Fulton Bank N.A. raised its stake in SunTrust Banks by 5.5% during the 2nd quarter. Fulton Bank N.A. now owns 16,660 shares of the financial services provider’s stock worth $1,047,000 after buying an additional 875 shares during the period. WINTON GROUP Ltd acquired a new stake in SunTrust Banks during the 2nd quarter worth $20,174,000. Finally, Carroll Financial Associates Inc. raised its stake in SunTrust Banks by 2.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 8,391 shares of the financial services provider’s stock worth $527,000 after buying an additional 193 shares during the period. 79.74% of the stock is currently owned by institutional investors.
SunTrust Banks Company Profile
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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