SunTrust Banks (STI) reported quarterly earnings results on Friday, Apr-22-2016. The company said it had a profit of $0.84 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.75. The company posted revenue of $2099.00 million in the period, compared to analysts expectations of $2046.91 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.
Many Wall Street Analysts have commented on SunTrust Banks. Shares were Reiterated by Compass Point on Apr 11, 2016 to “Buy” and Lowered the Price Target to $ 45 from a previous price target of $50 .Shares were Reiterated by RBC Capital Mkts on Jan 25, 2016 to “Outperform” and Lowered the Price Target to $ 46 from a previous price target of $48 .Shares were Reiterated by Barclays on Jan 25, 2016 to “Equal Weight” and Lowered the Price Target to $ 46 from a previous price target of $47 .
SunTrust Banks opened for trading at $39.87 and hit $40.21 on the upside on Wednesday, eventually ending the session at $39.87, with a gain of 0.25% or 0.1 points. The heightened volatility saw the trading volume jump to 34,15,694 shares. Company has a market cap of $20,134 M.
In a different news, on Feb 29, 2016, Jerome T Lienhard (Pres & CEO, SunTrust Mortgage) sold 10,000 shares at $34.54 per share price. According to the SEC, on Feb 23, 2016, Mark A Chancy (Corp. EVP-Wholesale Bank Exec) sold 16,000 shares at $0.00 per share price. On Feb 11, 2016, Donna S Morea (director) purchased 3,000 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Suntrust Banks Inc. is a bank holding company and a financial holding company. Through its principal subsidiary SunTrust Bank the Company offers a line of financial services for consumers and businesses including deposit credit mortgage banking and trust and investment services. The Company’s other subsidiaries provide asset and wealth management securities brokerage and capital market services. SunTrust operates the following business segments: Consumer Banking and Private Wealth Management Wholesale Banking and Mortgage Banking. It also operates a Corporate Other segment which includes the management of the Company’s investment securities portfolio long-term debt end-user derivative instruments short-term liquidity and funding activities balance sheet risk management and most real estate assets. SunTrust operates primarily within Florida Georgia Maryland North Carolina South Carolina Tennessee Virginia and the District of Columbia.