SunTrust Banks (STI) Releases Earnings Results, Beats Expectations By $0.01 EPS

SunTrust Banks (STI) reported quarterly earnings results on Friday, Jul-22-2016. The company said it had a profit of $0.89 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.88. The company posted revenue of $2221.00 million in the period, compared to analysts expectations of $2157.32 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Many Wall Street Analysts have commented on SunTrust Banks. Shares were Downgraded by Robert W. Baird on Jul 15, 2016 to ” Underperform” and Lowered the Price Target to $ 41 from a previous price target of $43 .SunTrust Banks was Upgraded by Portales Partners to ” Outperform” on Jun 28, 2016. SunTrust Banks was Downgraded by Susquehanna to ” Neutral” on Jun 7, 2016.

SunTrust Banks (STI) witnessed a volatile trading activity on Wednesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $43.45 and reached the intraday high at $43.5. The bulls started the profit booking and pushed the shares to intraday low of $42.95. The trading session was marked by a volume range of 22,52,579 shares exchanging hands. The 52-week high of the shares is $45.32 and the 52-week low is $31.065. The market cap of the company stands at $21,684 M and there are 50,11,27,620 shares in public circulation.

In a different news, on May 26, 2016, Kenneth J Carrig (CEVP & Chief HR Officer) sold 17,000 shares at $0.00 per share price. According to the SEC, on May 5, 2016, Anil T Cheriyan (Corp Ex Vice Pres & CIO) sold 10,000 shares at $42.00 per share price. On May 2, 2016, Thomas E Freeman (Corp. EVP & Chief Credit Off.) sold 160,555 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.

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