Revenue Update on SunTrust Banks(NYSE:STI)

SunTrust Banks(NYSE:STI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 22, 2016. Company reported revenue of $2.22B. Analysts estimated a revenue of $2.14B. Earnings per share were $0.89. Analysts had estimated an EPS of $0.88.

In a different note, On Jul 15, 2016, Baird said it Downgrades its rating on SunTrust Banks. On Jun 7, 2016, Susquehanna said it Downgrades its rating on SunTrust Banks. The shares have been rated ‘Neutral’ by the firm. On Apr 25, 2016, Citigroup said it Maintains its rating on SunTrust Banks. In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Neutral’ by the firm.

SunTrust Banks (STI) made into the market gainers list on Thursdays trading session with the shares advancing 0.26% or 0.11 points. Due to strong positive momentum, the stock ended at $42.46, which is also near the day’s high of $42.59. The stock began the session at $42.22 and the volume stood at 27,33,898 shares. The 52-week high of the shares is $45.24 and the 52 week low is $31.065. The company has a current market capitalization of $21,278 M and it has 50,11,27,620 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Kenneth J Carrig (CEVP & Chief HR Officer) sold 17,000 shares at $0.00 per share price.Also, On May 5, 2016, Anil T Cheriyan (Corp Ex Vice Pres & CIO) sold 10,000 shares at $42.00 per share price.On May 2, 2016, Thomas E Freeman (Corp. EVP & Chief Credit Off.) sold 160,555 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Suntrust Banks Inc. is a bank holding company and a financial holding company. Through its principal subsidiary SunTrust Bank the Company offers a line of financial services for consumers and businesses including deposit credit mortgage banking and trust and investment services. The Company’s other subsidiaries provide asset and wealth management securities brokerage and capital market services. SunTrust operates the following business segments: Consumer Banking and Private Wealth Management Wholesale Banking and Mortgage Banking. It also operates a Corporate Other segment which includes the management of the Company’s investment securities portfolio long-term debt end-user derivative instruments short-term liquidity and funding activities balance sheet risk management and most real estate assets. SunTrust operates primarily within Florida Georgia Maryland North Carolina South Carolina Tennessee Virginia and the District of Columbia.

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