SunTrust Banks (NYSE: STI [FREE Stock Trend Analysis]) reported a rise in its fourth-quarter profit.
SunTrust's quarterly profit surged to $356 million, from $74 million,
in the year-ago period. Its per-share earnings rose to $0.65 from
$0.13.
Its revenue climbed 12% to $2.29 billion. However, analysts were
expecting earnings of $0.61 per share on revenue of $2.32 billion.
SunTrust's net interest margin declined to 3.36%, from 3.46% in the
year-ago period, while noninterest income rose 40% to $1.02 billion.
SunTrust shares closed at $29.57 yesterday.
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