SunTrust Banks, Inc. to Issue Quarterly Dividend of $0.40 (STI)

SunTrust Banks, Inc. (NYSE:STI) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Stockholders of record on Thursday, November 30th will be given a dividend of 0.40 per share by the financial services provider on Friday, December 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%.

SunTrust Banks has increased its dividend payment by an average of 41.9% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. SunTrust Banks has a payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect SunTrust Banks to earn $4.40 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 36.4%.

SunTrust Banks (NYSE STI) traded up $0.31 on Wednesday, hitting $57.64. The stock had a trading volume of 3,080,700 shares, compared to its average volume of 3,371,117. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94. The company has a market capitalization of $27,510.00, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. SunTrust Banks has a 1 year low of $50.66 and a 1 year high of $61.69.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. SunTrust Banks’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. sell-side analysts expect that SunTrust Banks will post 4.06 EPS for the current year.

In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by company insiders.

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STI has been the subject of a number of research reports. Credit Suisse Group upgraded SunTrust Banks from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $56.00 to $60.00 in a report on Monday, October 9th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of SunTrust Banks in a report on Sunday, July 23rd. Barclays PLC boosted their price target on SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Raymond James Financial, Inc. lowered SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 price target on shares of SunTrust Banks in a report on Thursday, July 27th. Nineteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $63.18.

About SunTrust Banks

SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.

Dividend History for SunTrust Banks (NYSE:STI)

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