Dividend and Exchange Traded Fund Stocks Discuss STI - Sun Trust Banks in the Stock Market Discussions - Stock Dividend Stocks forums; Sun Trust Banks - Huge dividend payer: 10-day Avg Vol 8.7M Shares Out. 1.7B Dividend/Yield $1.60/4.82% STI on Google Finance Chart One Year ...

**BadThad** · #1 07-17-2007, 01:06 PM

Sun Trust Banks - Huge dividend payer:

10-day Avg Vol 8.7M
Shares Out. 1.7B
Dividend/Yield $1.60/4.82%

STI on Google Finance

Chart

One Year Dividend History

I'm not in this position yet, watching for an entry point now.

Today's Price: $89.97

**BadThad** · #2 08-20-2007, 11:26 AM

News out today:

Quote:

NEW YORK (Reuters) - SunTrust Banks Inc. (STI.N: Quote, Profile , Research), the seventh-largest U.S. bank, on Monday said it expects to eliminate about 2,400 jobs by the end of 2008 as part of a plan designed to save $530 million annually by 2009.

The job cuts are equal to about 7 percent of SunTrust's workforce as of the end of 2006.

Atlanta-based SunTrust said most of the job losses will involve employees who do not deal directly with customers. The cuts follow a several months-long review of ways to streamline back office and support operations, and reduce layers of management.

The bank expects to incur a $45 million pretax third-quarter charge to cover costs of the program. It did not immediately return a call seeking further comment.

Chief Executive James Wells, who took his job in January, is trying to make SunTrust more efficient after the bank tripled in size under predecessor L. Phillip Humann.

SunTrust instituted a hiring freeze, agreed to sell and lease back roughly 475 offices and branches, and in May sold 4.5 million shares of Atlanta-based Coca-Cola Co (KO.N: Quote, Profile , Research), or 9 percent of its stake. It retained 43.7 million shares in the world's largest soft drink maker, which it helped take public in 1919.

SunTrust ended June with $180.3 billion of assets, and operates about 1,685 branches in 11 U.S. states, mostly in the Southeast, and Washington, D.C.

Shares of SunTrust closed Friday at $80.50 on the New York Stock Exchange. They have fallen 5 percent this year, compared with a 6 percent drop in the Philadelphia KBW Bank Index

**BadThad** · #3 09-12-2007, 03:02 PM

WOW.....subprime PPS beat down!

Chart

**BadThad** · #4 12-29-2007, 04:48 PM

I haven't looked at this in a long time, it's really been beaten down. I'll try to do some more DD into their subprime exposure, but I think this is still a great play and a nice divy payer. IMO, when the bank stocks come back, this one will make a nice move north and pay dividends along the way. I'm predicting an eventual move of $20/share or more.....but it might be toward the end of 2009. I can't wait to see how it pans out!

**BadThad** · #5 01-23-2008, 10:55 AM

Some financial news out:

Quote:

SunTrust Banks Inc.'s fourth-quarter net income fell 98% as the company recorded a higher-than-expected $555 million in write-downs and reported soaring credit costs.

The Atlanta bank recorded net income of $11.1 million, or one cent a share, compared with $506.4 million, or $1.39 a share, a year earlier. Revenue dropped 14% to $1.77 billion. The mean estimate of analysts polled by Thomson Financial was 31 cents a share on revenue of $1.9 billion.

The latest quarter's results included a $510 million write-down on the purchase of structured investment vehicle-issued securities from two of its money-market funds -- more than double the high-end of its previous estimate -- as well as a lower-than-expected $45 million write-down on its other holdings.

SunTrust in December disclosed plans to purchase $1.4 billion in securities issued by SIVs from its funds to prevent investor losses. Many SIVs have come into trouble amid the liquidity crunch, in which debt investors have balked at buying short-term notes known as commercial paper that fund the vehicles.

"SunTrust was eclipsed in the fourth quarter by the impact of industry-wide pressures, notably rapid notably rapid deterioration of the residential real estate market, the change in the credit cycle and consumer credit quality and the resulting impact on liquidity in the financial markets," Chief Executive James Wells said Wednesday.

The company's provision for loan losses tripled to $356.8 million from $115.8 million. The percentage of net charge-offs, loans it doesn't think are collectable, rose less than expected to 0.55% from 0.52%. The company had predicted charge-offs of 0.56%. Non-performing loans -- ones in danger of going bad -- rose to 1.19% of total loans from 0.44%.

SunTrust's return on equity, an important measure of profitability at financial firms, rose to 10.3% from 10%. The company's net interest margin, the margin between interest earned and interest paid out to depositors, rose to 3.13% from 2.94%.

**BadThad** · #6 02-27-2008, 05:19 PM

SunTrust Ex-Dividend For STI - $0.77 Pay Date : March 14, 2008, Record Date : February 29, 2008

**Grizzums** · #7 05-20-2008, 01:36 AM

Interesting call buying on STI today.....don't fall

**BadThad** · #8 01-22-2009, 09:38 AM

QTR results:

Quote:

TEL AVIV (MarketWatch) -- SunTrust Banks Inc., (STI:SunTrust Banks, Inc
News , chart , profile , more
Last: 15.21+0.14+0.93%

4:03pm 01/21/2009

Delayed quote dataAdd to portfolio
Analyst
Create alert Insider
Discuss
Financials
Sponsored by:
STI 15.21, +0.14, +0.9%) the $189.3-billion-asset Atlanta banking firm, swung to a fourth-quarter loss from a year-earlier profit, as loan charge-offs increased and it added to reserves. SunTrust also cut its quarterly dividend to 10 cents a share from 54 cents. The company reported a loss available to common-share holders of $379.2 million, or $1.08 a share, compared with net income of $3.3 million, or 1 cent a share, in the year-earlier period. A survey of analysts by FactSet Research produced a consensus estimate of profit of 9 cents a share for the quarter. The company recorded a provision for loan losses of $962.5 million, which is $410 million more than net charge-offs. The allowance for possible losses on bad loans thus increased to 1.86% of total loans. Operating losses in the fourth quarter were $236.1 million, stemming primarily from losses on "borrower misrepresentations and insurance-claim denials, "and $100 million tied to mortgage-reinsurance reserves, SunTrust reported. And "market-valuation losses on loans and securities carried at fair value" were $145 million. (Adds earnings estimate and ticker symbol.)

**BadThad** · #9 02-04-2009, 01:53 AM

Trading at 1986 levels!

Down 16.5% today!

Current Price: $10.02

**BadThad** · #10 02-10-2009, 03:38 PM

Down even more today to $9.28.

Divy news:

Quote:

ATLANTA, Feb. 10 /PRNewswire-FirstCall/ -- The Board of Directors of SunTrust Banks, Inc. (NYSE: STI) today declared a regular quarterly cash dividend of $0.10 per common share. The dividend is payable on March 16, 2009, to shareholders of record on March 2, 2009, and reflects the previously announced reduction in the dividend from $0.54 in the previous quarter.

SunTrust noted that it will also pay to the U.S. Treasury approximately $60 million in dividends on the Company's Perpetual Preferred Stock, Series C and D, which was purchased under the Capital Purchase Program.

The Board of Directors also announced a quarterly cash dividend of $1,000.00 per share on SunTrust's Perpetual Preferred Stock, Series A, declared payable in cash on March 16, 2009, to shareholders of record at the close of business on March 2, 2009.