Brokerages Anticipate SunTrust Banks, Inc. (STI) Will Announce Quarterly Sales of $2.36 Billion

Equities analysts predict that SunTrust Banks, Inc. (NYSE:STI) will report $2.36 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for SunTrust Banks’ earnings. The highest sales estimate is $2.39 billion and the lowest is $2.31 billion. SunTrust Banks posted sales of $2.27 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The business is expected to announce its next quarterly earnings report on Friday, January 18th.

On average, analysts expect that SunTrust Banks will report full year sales of $9.21 billion for the current fiscal year, with estimates ranging from $9.16 billion to $9.23 billion. For the next year, analysts expect that the company will post sales of $9.54 billion, with estimates ranging from $9.45 billion to $9.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover SunTrust Banks.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.39 by $0.17. SunTrust Banks had a return on equity of 11.66% and a net margin of 28.17%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis.

Several equities research analysts recently commented on STI shares. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a report on Monday, July 16th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $79.00 price target on shares of SunTrust Banks in a report on Monday, July 23rd. Barclays increased their price target on SunTrust Banks from $77.00 to $79.00 and gave the company a “$72.58” rating in a report on Monday, July 23rd. BMO Capital Markets increased their price target on SunTrust Banks from $73.00 to $74.00 and gave the company a “$72.58” rating in a report on Monday, July 23rd. Finally, B. Riley raised SunTrust Banks from a “neutral” rating to a “buy” rating and increased their price target for the company from $70.00 to $81.00 in a report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $77.00.

Shares of NYSE:STI traded up $0.19 during midday trading on Friday, hitting $63.53. The company had a trading volume of 3,352,611 shares, compared to its average volume of 3,264,040. SunTrust Banks has a twelve month low of $56.30 and a twelve month high of $75.08. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.95. The stock has a market cap of $28.08 billion, a PE ratio of 15.73, a P/E/G ratio of 1.03 and a beta of 1.27.

In other news, EVP Jorge Arrieta sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $73.13, for a total transaction of $182,825.00. Following the completion of the transaction, the executive vice president now directly owns 6,148 shares in the company, valued at $449,603.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. LSV Asset Management boosted its position in shares of SunTrust Banks by 0.3% during the second quarter. LSV Asset Management now owns 6,471,822 shares of the financial services provider’s stock worth $427,269,000 after buying an additional 21,800 shares during the period. Boston Partners boosted its holdings in SunTrust Banks by 1.3% in the second quarter. Boston Partners now owns 5,449,455 shares of the financial services provider’s stock valued at $359,773,000 after purchasing an additional 71,355 shares during the period. Northern Trust Corp boosted its holdings in SunTrust Banks by 1.7% in the second quarter. Northern Trust Corp now owns 5,163,571 shares of the financial services provider’s stock valued at $340,899,000 after purchasing an additional 87,873 shares during the period. Bank of Montreal Can boosted its holdings in SunTrust Banks by 6.5% in the third quarter. Bank of Montreal Can now owns 4,387,551 shares of the financial services provider’s stock valued at $293,045,000 after purchasing an additional 269,665 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in SunTrust Banks by 2.1% in the third quarter. Alliancebernstein L.P. now owns 4,254,532 shares of the financial services provider’s stock valued at $284,160,000 after purchasing an additional 87,486 shares during the period. Institutional investors and hedge funds own 84.07% of the company’s stock.

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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