News headlines about SunTrust Banks (NYSE:STI) have been trending somewhat positive on Thursday, according to Accern Sentiment Analysis. The research firm identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. SunTrust Banks earned a daily sentiment score of 0.17 on Accern’s scale. Accern also assigned news articles about the financial services provider an impact score of 47.2394295380902 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the media stories that may have impacted Accern’s rankings:
- Judge approves $4.7M settlement of 10-year ERISA lawsuit against SunTrust Banks (finance.yahoo.com)
- SunTrust Banks, Inc. (STI) Expected to Earn FY2019 Earnings of $5.73 Per Share (americanbankingnews.com)
- SunTrust Banks, Inc. (STI) Given Average Recommendation of “Hold” by Brokerages (americanbankingnews.com)
- Recent STI News (bloomberg.com)
- SunTrust’s Stock ‘Disconnected From Strong Fundamentals,’ Argus Says (msn.com)
A number of analysts have recently weighed in on the company. Stephens cut SunTrust Banks from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 23rd. They noted that the move was a valuation call. Credit Suisse Group reissued a “neutral” rating and issued a $73.00 price objective (up previously from $71.00) on shares of SunTrust Banks in a research report on Wednesday, March 14th. ValuEngine cut SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Argus raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday. Finally, Zacks Investment Research cut SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Monday, March 26th. Seventeen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. SunTrust Banks presently has a consensus rating of “Hold” and an average price target of $70.70.
Shares of SunTrust Banks opened at $66.58 on Thursday, Marketbeat reports. The firm has a market capitalization of $30.95 billion, a P/E ratio of 16.48, a PEG ratio of 0.98 and a beta of 1.31. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.48. SunTrust Banks has a 1 year low of $51.96 and a 1 year high of $73.37.
SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.18. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.29 billion. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. analysts forecast that SunTrust Banks will post 5.3 EPS for the current fiscal year.
SunTrust Banks declared that its board has authorized a share buyback plan on Thursday, June 28th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 6.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 31st were paid a $0.40 dividend. The ex-dividend date was Wednesday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.40%. SunTrust Banks’s dividend payout ratio (DPR) is 39.60%.
In other news, EVP Jerome T. Lienhard sold 8,750 shares of the firm’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $69.06, for a total transaction of $604,275.00. Following the sale, the executive vice president now directly owns 41,374 shares in the company, valued at approximately $2,857,288.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Hugh S. Cummins III sold 11,000 shares of the firm’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $69.00, for a total value of $759,000.00. Following the sale, the chief operating officer now owns 40,198 shares in the company, valued at $2,773,662. The disclosure for this sale can be found here. Insiders have sold a total of 21,250 shares of company stock valued at $1,464,300 in the last quarter. Company insiders own 0.52% 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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