'Don't Wait' to Buy SunTrust: Morgan Stanley

SunTrust will report its second-quarter results on July 20, with analysts polled by Thomson Reuters expecting a 43-cent profit, compared to EPS of 46 cents in the first quarter and 33 cents in the second quarter of 2011.

Morgan Stanley estimates SunTrust will post second-quarter earnings of 45 cents a share, with full year EPS estimates of $2.13 for all of 2012 and $2.68 for 2013.

SunTrust's shares closed at $24.23 Friday, returning 38% year-to-date, following a 40% decline during 2011.

The shares trade just above tangible book value, and for 9.1 times the consensus 2013 EPS estimate of $2.65. The consensus 2012 EPS estimate is $1.91.

Interested in more on SunTrust? See TheStreet Ratings' report card for this stock.

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-- Written by Philip van Doorn in Jupiter, Fla.

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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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