Have you been eager to see how SunTrust Banks (STI - Free Report) performed in Q1 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 $1.33, which surpassed the Zacks Consensus Estimate of $1.29.
A rise in revenues supported the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for SunTrust depicted a bearish stance prior to the earnings release. The Zacks Consensus Estimate declined nearly 1% over the past seven days.
Notably, SunTrust has a decent earnings surprise history. Before posting earnings beat in Q1, the company delivered positive surprises in three of the trailing four quarters, with average beat of 10.2%.
Revenues Came in Higher Than Expected
SunTrust posted net revenues of $2.33 billion, which beat the Zacks Consensus Estimate of $2.30 billion.
Key Q1 Statistics:
- Net interest margin was 3.27%, up 3 basis points year over year
- Provision for credit losses was $153 million, up significantly year over year
- Average consumer and commercial deposits stood at $159.9 billion
- Average loans held for investment were $154.3 billion
- Common Equity Tier 1 ratio (fully phased-in) was 9.11% as of Mar 31, 2019
What Zacks Rank Says
SunTrust currently has a Zacks Rank #3 (Hold). 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.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this SunTrust earnings report!
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Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Have you been eager to see how SunTrust Banks (STI - Free Report) performed in Q1 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 $1.33, which surpassed the Zacks Consensus Estimate of $1.29.
A rise in revenues supported the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for SunTrust depicted a bearish stance prior to the earnings release. The Zacks Consensus Estimate declined nearly 1% over the past seven days.
Notably, SunTrust has a decent earnings surprise history. Before posting earnings beat in Q1, the company delivered positive surprises in three of the trailing four quarters, with average beat of 10.2%.
Revenues Came in Higher Than Expected
SunTrust posted net revenues of $2.33 billion, which beat the Zacks Consensus Estimate of $2.30 billion.
Key Q1 Statistics:
What Zacks Rank Says
SunTrust currently has a Zacks Rank #3 (Hold). 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.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this SunTrust earnings report!
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
See Latest Stocks Today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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