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SunTrust (STI) Beats on Q4 Earnings, Revenues Improve Y/Y
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Have you been eager to see how SunTrust Banks, Inc. (STI - Free Report) performed in Q4 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 $1.09, which surpassed the Zacks Consensus Estimate of $1.05.
A rise in 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 remained stable over the last seven days.
Notably, SunTrust has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in three of the trailing four quarters, with average beat of 2.7%.
SunTrust posted net revenue (on FTE basis) of $2.31 billion, which was on par with the Zacks Consensus Estimate of $2.29 billion. Also, it was 5% above the year-ago number.
Key Q4 Statistics:
Results included net discrete benefits of $188 million
Net interest margin was 3.17%, up 17 basis points year over year
Provision for credit losses was $79 million, down 22% year over year
Average consumer and commercial deposits stood at $160.7 billion
Average loan held for investment were $144.0 billion
Common Equity Tier 1 (fully phased-in) was 9.75% as of Dec 31, 2017
What Zacks Rank Says
SunTrust currently has a Zacks Rank #2 (Buy). 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!
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Image: Bigstock
SunTrust (STI) Beats on Q4 Earnings, Revenues Improve Y/Y
Have you been eager to see how SunTrust Banks, Inc. (STI - Free Report) performed in Q4 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 $1.09, which surpassed the Zacks Consensus Estimate of $1.05.
A rise in 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 remained stable over the last seven days.
Notably, SunTrust has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in three of the trailing four quarters, with average beat of 2.7%.
SunTrust Banks, Inc. Price and EPS Surprise
SunTrust Banks, Inc. Price and EPS Surprise | SunTrust Banks, Inc. Quote
Revenues
SunTrust posted net revenue (on FTE basis) of $2.31 billion, which was on par with the Zacks Consensus Estimate of $2.29 billion. Also, it was 5% above the year-ago number.
Key Q4 Statistics:
What Zacks Rank Says
SunTrust currently has a Zacks Rank #2 (Buy). 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!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>