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SunTrust's (STI) Q3 Earnings Beat Estimates, Revenues Up
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Have you been eager to see how SunTrust Banks, Inc. (STI - Free Report) 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 adjusted earnings per share of $1.42, which surpassed the Zacks Consensus Estimate of $1.38.
A rise in revenues and lower expenses 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 Q3, the company delivered positive surprises in three of the trailing four quarters, with average beat of 8.7%.
SunTrust posted net revenues (on FTE basis) of $2.32 billion, which lagged the Zacks Consensus Estimate of $2.34 billion.
Key Q3 Statistics:
Net interest margin was 3.22%, up 15 basis points year over year
Provision for credit losses was $61 million, down 49% year over year
Average consumer and commercial deposits stood at $159.3 billion
Average loans held for investment were $146 billion
Common Equity Tier 1 ratio (fully phased-in) was 9.60% as of Sep 30, 2018
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.
Check back later for our full write up on this SunTrust earnings report!
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SunTrust's (STI) Q3 Earnings Beat Estimates, Revenues Up
Have you been eager to see how SunTrust Banks, Inc. (STI - Free Report) 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 adjusted earnings per share of $1.42, which surpassed the Zacks Consensus Estimate of $1.38.
A rise in revenues and lower expenses 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 Q3, the company delivered positive surprises in three of the trailing four quarters, with average beat of 8.7%.
SunTrust Banks, Inc. Price and EPS Surprise
SunTrust Banks, Inc. Price and EPS Surprise | SunTrust Banks, Inc. Quote
Revenues Came in Lower Than Expected
SunTrust posted net revenues (on FTE basis) of $2.32 billion, which lagged the Zacks Consensus Estimate of $2.34 billion.
Key Q3 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!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>