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STI

SunTrust

$68.28

0.23 (0.34%)

06:07
10/17/19
10/17
06:07
10/17/19
06:07

SunTrust reports Q3 EPS $1.34, consensus $1.41

Reports Q3 revenue $2.35B, consensus $2.36B. Reports Q3 CET1 capital ratio 9.3%. Reports Q3 tangible book value per share $40.58. Reports Q3 net charge-offs .028%. "We delivered solid third quarter results, marked by continued loan growth, improved deposit growth, diverse fee income, and strong credit quality. Our underlying strategic progress is strong, evidenced by 8% year-over-year growth in both loans and noninterest income, providing us with good momentum heading into our proposed merger of equals with BB&T," said William Rogers, Jr., chairman and CEO of SunTrust Banks. "I am confident that when SunTrust and BB&T come together to create Truist, we can deliver industry leading profitability, better capabilities for our clients, and enhanced benefits for both our teammates and our communities."

  • 17

    Oct

  • 12

    Nov

STI SunTrust
$68.28

0.23 (0.34%)

04/04/19
RAJA
04/04/19
DOWNGRADE
RAJA
Market Perform
BB&T downgraded to Market Perform on near-term noise at Raymond James
As previously reported, Raymond James analyst David Lon downgraded BB&T (BBT) to Market Perform from Outperform and reducing his EPS estimates. The analyst cited the nearer-term noise surrounding its merger with SunTrust (STI) and his view that BB&T shares are unlikely to outperform until there is greater clarity on when the deal will actually close and its ability to retain key talent with the combined company's footprint. Moreover, larger acquirer stock prices generally haven't reacted favorably over the past few years, he contends.
07/19/19
ARGS
07/19/19
NO CHANGE
Target $81
ARGS
Buy
SunTrust loan growth acceleration encouraging, says Argus
Argus analyst Stephen Biggar kept his Buy rating and $81 price target on SunTrust (STI) after its Q2 results, saying that while the company missed consensus by a penny, its "recent acceleration in loan growth" has been encouraging as the management has also signaled that its merger with BB&T (BBT) remains on track to close later this year. The analyst notes that while SunTrust's net interest margins may compress on lower yield curve environment, the bank's merger synergies should yield above-peer-average return on equity, justifying a premium valuation on the stock.
10/08/19
JEFF
10/08/19
UPGRADE
Target $75
JEFF
Buy
SunTrust upgraded to Buy from Hold at Jefferies
Jefferies analyst Ken Usdin upgraded SunTrust Banks to Buy from Hold with a price target of $75, up from $67.
10/08/19
JEFF
10/08/19
NO CHANGE
JEFF
Jefferies changes five bank ratings after looking into 2020, 2021
Jefferies analyst Ken Usdin upgraded BB&T (BBT), SunTrust Banks (STI) and Regions Financial (RF) to Buy from Hold from Hold while downgrading M&T Bank (MTB) and Zions Bancorp (ZION) to Hold from Buy. Looking to 2020 and 2021, banks face slowing earnings growth and "ongoing sentiment hurdles," Usdin tells investors in a research note. The analyst's base case assumes a stable economy, but he notes that "trade talk could tip it either way." Further, the 2020 election could weigh not only on valuation multiples, but also on earnings estimates based on the regulatory outlook, adds the analyst. He believes attractive dividend yields and a shift toward value stocks could help, but admits that earnings revisions are biased down with more rate cuts likely. Regions "has led the pack" in protecting its net interest margin for a tougher rates environment, while BB&T has less downside to estimates relative to peers and a faster earnings growth rate given benefits from the pending merger-of-equals with SunTrust, contends Usdin.

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SYNA

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AAPL

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