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SunTrust Banks Inc (STI)

STI on New York Consolidated

57.62USD
22 Nov 2017
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Latest Key Developments (Source: Significant Developments)

SunTrust reports Q3 revenue of $2.3 billion
Friday, 20 Oct 2017 06:00am EDT 

Oct 20 (Reuters) - SunTrust Banks Inc :SunTrust reports third quarter 2017 results.Q3 revenue $2.3 billion versus I/B/E/S view $2.31 billion.SunTrust Banks Inc qtrly earnings per share ‍$1.06​.SunTrust Banks Inc - ‍Net charge-offs were $78 million during current quarter, an increase of $8 million compared to prior quarter​.SunTrust Banks Inc - ‍Provision for credit losses was $120 million in current quarter, an increase of $30 million compared to prior quarter​.SunTrust Banks Inc - ‍Net interest income was $1.5 billion for current quarter, an increase of $28 million compared to prior quarter​.SunTrust Banks - At quarter end, ‍book value per common share was $47.16, tangible book value per common share was $34.34, up 1%, 2%, respectively, from June 30.SunTrust Banks Inc - ‍Net interest margin for current quarter was 3.15%, compared to 3.14% in prior quarter​.Q3 earnings per share view $1.05 -- Thomson Reuters I/B/E/S.SunTrust Banks - Expects to repurchase about $1 billion of additional common stock over next 3 qtrs in accordance with 2017 capital plan​.  Full Article

SunTrust says confident in ability to achieve 2019 goal of delivering sub-60 pct efficiency ratio - Conf Call
Tuesday, 12 Sep 2017 11:13am EDT 

Sept 12 (Reuters) - SunTrust Banks Inc :SunTrust Banks - confident in ability to achieve 2019 goal of delivering a sub-60 pct efficiency ratio - Conf call.SunTrust - as bank streamlines processes, reduces branch networks, leverage new tech, will reduce or redeploy headcount in certain areas - conf call.SunTrust - As bank continues to execute consumer segment integration strategy, will have opportunities to reduce costs, meet more client needs - conf call.SunTrust Banks - goal is for FY 2017 is to improve adjusted tangible efficiency ratio from 62 percent level in 2016 - conf call.SunTrust Banks - "over time, we expect our charge-off ratio to normalize" - Conf call.  Full Article

Suntrust board approves increase in common stock dividend
Tuesday, 8 Aug 2017 04:15pm EDT 

Aug 8 (Reuters) - Suntrust Banks Inc :Suntrust board approves increase in common stock dividend.‍Quarterly dividend of $0.40 per share declared; previous quarterly dividend was $0.26.  Full Article

Suntrust reports Q1 earnings per share $1.03
Friday, 21 Jul 2017 06:00am EDT 

July 21 (Reuters) - Suntrust Banks Inc :Suntrust Banks Inc says net interest income was $1.4 billion for current quarter, up $39 million compared to prior quarter .Suntrust reports second quarter 2017 results.Q2 revenue $2.3 billion.Suntrust banks inc - net charge-offs for current quarter were $70 million, down $42 million sequentially and $67 million year-over-year.Suntrust banks - estimated common equity tier 1 ratio estimated to be 9.7% at june 30, 2017, and 9.5% on a fully phased-in basis​.Suntrust banks inc says net interest margin for current quarter was 3.14%, compared to 3.09% in prior quarter and 2.99% in q2 of 2016.Suntrust banks - qtrly provision for credit losses was $90 million, a decrease of $29 million compared to prior quarter and $56 million compared to q2 of 2016.Suntrust banks- ‍at quarter end, book value per common share was $46.51 and tangible book value per common share $33.83, both up 2% from march 31, 2017​.Suntrust banks inc qtrly earnings per share $1.03.Q2 earnings per share view $0.99 -- Thomson Reuters I/B/E/S.Q2 revenue view $2.29 billion -- Thomson Reuters I/B/E/S.  Full Article

Suntrust to increase quarterly common stock dividend, share repurchase program
Wednesday, 28 Jun 2017 04:45pm EDT 

June 28 (Reuters) - Suntrust Banks Inc ::Suntrust to increase quarterly common stock dividend and share repurchase program.Increases quarterly dividend by 54 percent to $0.40per share.Suntrust Banks Inc - authorization to repurchase $1.32 billion of outstanding common stock.Suntrust Banks Inc - capital actions includes a 54% increase in quarterly common stock dividend from $0.26 per share.Suntrust Banks Inc - authorization to repurchase $1.32 billion of outstanding common stock between july 1, 2017 and june 30, 2018.  Full Article

Suntrust Banks Q1 revenue $2.2 billion
Friday, 21 Apr 2017 06:00am EDT 

April 21 (Reuters) - Suntrust Banks Inc :Suntrust reports first quarter 2017 results.Q1 revenue $2.2 billion.Suntrust Banks Inc says net interest margin was 3.09% in current quarter, up 9 basis points sequentially and up 5 basis points compared to prior year.Qtrly provision for credit losses increased $18 million sequentially as a result of a reserve release in prior quarter.Suntrust Banks Inc says net interest income was $1.4 billion for current quarter, an increase of $23 million and $82 million compared to prior quarter.Qtrly net charge-offs for current quarter were $112 million, down $24 million sequentially.Qtrly earnings per average common diluted share $0.91.Q1 earnings per share view $0.84, revenue view $2.21 billion -- Thomson Reuters I/B/E/S.Suntrust Banks Inc - at quarter-end book value per common share was $45.62, tangible book value per common share was $33.06, both up slightly from Dec 31, 2016.Suntrust Banks Inc says common equity tier 1 ratio was estimated to be 9.7% as of march 31, 2017.  Full Article

SunTrust to merge mortgage segment with consumer banking & private wealth management
Friday, 24 Feb 2017 09:15am EST 

SunTrust Banks Inc : Suntrust announces executive moves to build business momentum . Suntrust Banks Inc - Will align its consumer businesses by merging mortgage segment with consumer banking & private wealth management .Suntrust Banks Inc - executive appointments are effective April 3.  Full Article

SunTrust Q4 EPS $0.90
Friday, 20 Jan 2017 06:00am EST 

SunTrust Banks Inc : SunTrust reports fourth quarter and full year 2016 results . Q4 revenue $2.2 billion . Common equity tier 1 ("cet1") ratio was estimated to be 9.6 pct as of December 31, 2016, and 9.5 pct on a fully phased-in basis . SunTrust Banks Inc- quarter-end book value per common share was $45.38, tangible book value per common share was $32.95, down 3 pct and 4 pct, respectively, from Sept 30, 2016 . SunTrust Banks- net charge-offs for quarter were $136 million, or 0.38 pct of average loans on an annualized basis, up $10 million compared to prior quarter . SunTrust Banks - net interest income was $1.4 billion for quarter, increase of $35 million and $96 million versus prior quarter and prior year quarter, respectively . SunTrust Banks- net interest margin was 3.00 pct in current quarter, up 4 basis points sequentially and up 2 basis points compared to prior year quarter . Qtrly earnings per share $0.90 . Q4 earnings per share view $0.88 -- Thomson Reuters I/B/E/S .Q4 revenue view $2.19 billion -- Thomson Reuters I/B/E/S.  Full Article

Suntrust Banks entered into an agreement to sell underwriters $1 billion aggregate principal amount of 2.70% senior notes due 2022
Thursday, 1 Dec 2016 04:32pm EST 

Suntrust Banks Inc :Suntrust Banks says on Nov 28, entered into an agreement to sell underwriters $1 billion aggregate principal amount of 2.70% senior notes due 2022 - SEC filing.  Full Article

Suntrust Banks Inc raises qtrly dividend to $0.26 per share
Tuesday, 9 Aug 2016 01:55pm EDT 

Suntrust Banks Inc : Suntrust announces increase in common stock dividend . Previous quarterly dividend was $0.24 .Quarterly cash dividend of $0.26 per common share was declared payable on September 15.  Full Article

SunTrust Banks' profit rises 12 percent on higher interest rates

U.S. regional lender SunTrust Banks Inc's profit rose 12 percent in the third quarter, as interest rate hikes by the Federal Reserve drove higher net interest income.