Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

SunTrust (STI) Beats On Q3 Earnings & Revenue Estimates

Published 10/21/2016, 07:30 AM
Updated 07/09/2023, 06:31 AM

Have you been eager to see how SunTrust Banks, Inc. (NYSE:STI) performed in Q3 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 earnings per share of 91 cents, which surpassed the Zacks Consensus Estimate was 89 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 stable over the last 7 days.

Notably, SunTrust has a decent earnings surprise history. Before posting earnings beat in Q3, the company delivered positive surprises in all four prior quarters, with average beat of 9.5%.

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 $2.23 billion, which outpaced the Zacks Consensus Estimate of $2.15 billion. Further, it was 6% above the year-ago number.

Key Statistics:

  • Net interest margin was 2.96%, down 8 basis points year over year
  • Provision for credit losses was $97 million, down 4% year over year
  • Average consumer and commercial deposits stood at $155.3 billion as of Sep 30, 2016
  • Average loan balances were $142.3 billion as of Sep 30, 2016
  • Common Equity Tier 1 ("CET1") (transitional) was 9.77% as of Sep 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!

Confidential from Zacks

Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>



SUNTRUST BKS (STI): Free Stock Analysis Report

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.