Loan Growth Continues To Be a Strength for SunTrust in the Second Quarter
No-moat rated SunTrust reported OK second-quarter results, adjusted earnings per share of $1.51, up roughly 1% year over year. The primary adjustment to results was charges related to the pending merger with BB&T. The return on tangible equity came in at 15.7%, as noninterest income was down roughly 1% year over year (adjusted), adjusted expenses were up roughly 2%, and growth in net interest income of 3% led to roughly flat operating income (ex-provisioning). Provisioning came in higher yea...SunTrust Banks is a financial services holding company. Through its subsidiary, SunTrust Bank (the Bank), the company provides a line of financial services for consumers, businesses, corporations, institutions, and not-for-profit entities, both through branches (located primarily in Florida, Georgia, Virginia, North Carolina, Tennessee, Maryland, South Carolina, and the District of Columbia) and through other digital and national delivery channels. The Bank provides deposit, credit, mortgage banking, and trust and investment services to its clients through a selection of channels, including branch, call center, Teller Connect? machines, automated teller machines, online, mobile, and tablet.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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