We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SunTrust (STI) Beats on Q2 Earnings & Revenue Estimates
Read MoreHide Full Article
Have you been eager to see how SunTrust Banks, Inc. (STI - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Atlanta-based commercial banking organization’s earnings release this morning:
An Earnings Beat
SunTrust came out with adjusted earnings per share of 89 cents, which surpassed the Zacks Consensus Estimate was 87 cents.
Higher revenues mainly led to the earning beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for SunTrust depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained unchanged at 87 cents over the last 7 days.
However, SunTrust has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in all four prior quarters, with average beat of 11.37%.
SunTrust posted net revenue (on FTE basis) of $2.22 billion, which outpaced the Zacks Consensus Estimate of $2.14 billion. Further, it was 7% above the year-ago number.
Key Statistics:
Net interest margin was 2.99%, up 5 basis points year over year
Provision for credit losses was $146 million, up 462% year over year
Average consumer and commercial deposits stood at $154.2 billion as of Jun 30, 2016
Average loan balances were $141.2 billion as of Jun 30, 2016
Common Equity Tier 1 ("CET1") (transitional) was 9.51% as of Jun 30, 2016
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for SunTrust. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this SunTrust earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
SunTrust (STI) Beats on Q2 Earnings & Revenue Estimates
Have you been eager to see how SunTrust Banks, Inc. (STI - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Atlanta-based commercial banking organization’s earnings release this morning:
An Earnings Beat
SunTrust came out with adjusted earnings per share of 89 cents, which surpassed the Zacks Consensus Estimate was 87 cents.
Higher revenues mainly led to the earning beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for SunTrust depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained unchanged at 87 cents over the last 7 days.
However, SunTrust has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in all four prior quarters, with average beat of 11.37%.
SUNTRUST BKS Price and EPS Surprise
SUNTRUST BKS Price and EPS Surprise | SUNTRUST BKS Quote
Better-than-Expected Revenues
SunTrust posted net revenue (on FTE basis) of $2.22 billion, which outpaced the Zacks Consensus Estimate of $2.14 billion. Further, it was 7% above the year-ago number.
Key Statistics:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for SunTrust. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this SunTrust earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>