SunTrust Banks, Inc. (NYSE:STI) COO Hugh S. Cummins III sold 11,000 shares of the stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $69.00, for a total transaction of $759,000.00. Following the transaction, the chief operating officer now directly owns 40,198 shares of the company’s stock, valued at $2,773,662. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of SunTrust Banks opened at $68.89 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $32.61 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.03 and a beta of 1.31. SunTrust Banks, Inc. has a one year low of $51.96 and a one year high of $73.37.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, April 20th. The financial services provider reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.18. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.29 billion. SunTrust Banks had a net margin of 24.92% and a return on equity of 10.05%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. equities analysts expect that SunTrust Banks, Inc. will post 5.29 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Wednesday, May 30th. SunTrust Banks’s dividend payout ratio (DPR) is currently 39.60%.
STI has been the subject of several analyst reports. ValuEngine raised shares of SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Wednesday, March 21st. Credit Suisse Group reaffirmed a “neutral” rating and issued a $73.00 price objective (up from $71.00) on shares of SunTrust Banks in a report on Wednesday, March 14th. BMO Capital Markets cut their price objective on shares of SunTrust Banks from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Friday, April 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 price objective on shares of SunTrust Banks in a report on Thursday, April 5th. Eighteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $70.50.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of SunTrust Banks by 2.1% during the 1st quarter. BlackRock Inc. now owns 45,528,440 shares of the financial services provider’s stock valued at $3,097,755,000 after buying an additional 951,652 shares in the last quarter. Boston Partners raised its position in SunTrust Banks by 3.2% in the 4th quarter. Boston Partners now owns 7,033,278 shares of the financial services provider’s stock worth $454,279,000 after purchasing an additional 221,043 shares during the period. Bank of New York Mellon Corp raised its position in SunTrust Banks by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 6,787,866 shares of the financial services provider’s stock worth $438,428,000 after purchasing an additional 339,394 shares during the period. Lazard Asset Management LLC raised its position in SunTrust Banks by 54.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,615,575 shares of the financial services provider’s stock worth $427,299,000 after purchasing an additional 2,319,782 shares during the period. Finally, LSV Asset Management raised its position in SunTrust Banks by 1.3% in the 1st quarter. LSV Asset Management now owns 6,450,022 shares of the financial services provider’s stock worth $438,859,000 after purchasing an additional 82,600 shares during the period. Hedge funds and other institutional investors own 83.68% of the company’s stock.
SunTrust Banks Company Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.
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