The Atlanta-based bank holding company posted earnings of 94 cents per share, beating analysts surveyed by Thomson Reuters' estimates of 88 cents per share. Revenue rose 6% to $2.2 billion, exceeding analysts projections of $2.14 billion.
Last year, the company reported earnings of 89 cents per share on revenue of $2.2 billion for the second quarter.
"Despite the impact of the continued low interest rate environment, we remain committed to helping our clients and communities improve their financial confidence, therby helping our shareholders continue to outperform," said SunTrust Banks Chairman and CEO William H. Rogers, Jr. in a statement.
In the second quarter, SunTrust repurchased $175 million of outstanding common stock, which completed its 2015 capital plan, the company noted.
Shares of SunTrust Banks closed at $43.17 on Thursday.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate SUNTRUST BANKS INC as a Buy with a ratings score of B+. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, expanding profit margins, growth in earnings per share and attractive valuation levels. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: STI