SunTrust Banks Q4 Adj. EPS Tops View - Quick Facts

(RTTNews) - SunTrust Banks Inc. (STI) reported fourth-quarter 2014 net income available to common shareholders of $378 million or $0.72 per share, down from $413 million or $0.77 per share in the comparable quarter last year.

The current quarter's results include a $145 million legal provision, or $0.17 per share, related to legacy mortgage matters, to increase legal reserves and complete the resolution of a specific matter. Excluding the impact of this expense, earnings per share for the quarter were $0.88, compared with $0.77 last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.78 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue dropped to $2.04 billion from $2.06 billion in the year ago quarter, largely driven by foregone RidgeWorth revenue and lower trading income, partially offset by higher mortgage-related and investment banking income. Wall Street analysts had a consensus revenue estimate of $2.04 billion for the quarter.