SunTrust tops Street 1Q forecasts

Associated Press |

ATLANTA (AP) _ SunTrust Banks Inc. (STI) on Friday reported first-quarter earnings of $468 million.

The Atlanta-based bank said it had earnings of 91 cents per share. Earnings, adjusted for pretax gains, came to 87 cents per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.



The holding company for SunTrust Bank posted revenue of $2.38 billion in the period. Its adjusted revenue was $2.21 billion, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $2.2 billion.

SunTrust shares have risen 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 5 percent. The stock has risen 40 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STI at https://www.zacks.com/ap/STI

Keywords: SunTrust, Earnings Report

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