Have you been eager to see how SunTrust Banks, Inc. (STI – Free Report) performed in Q1 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 $1.29, which surpassed the Zacks Consensus Estimate of $1.11.
Stable 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 an optimistic stance prior to the earnings release. The Zacks Consensus Estimate moved marginally upward over the last 30 days.
Notably, SunTrust has an impressive earnings surprise history. Before posting earnings beat in Q1, the company delivered positive surprises in three of the trailing four quarters, with average beat of 3.1%.
SunTrust Banks, Inc. Price and EPS Surprise
Lower-than-Expected Revenues
SunTrust posted net revenue (on FTE basis) of $2.26 billion, which lagged the Zacks Consensus Estimate of $2.28 billion. However, it was relatively stable from the year-ago number.
Key Q1 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.
