Suntrust Banks Inc. lessened its position in SunTrust Banks, Inc. (NYSE:STI) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,410,257 shares of the financial services provider’s stock after selling 72,583 shares during the quarter. Suntrust Banks Inc. owned approximately 0.30% of SunTrust Banks worth $95,952,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Private Capital Group LLC increased its holdings in SunTrust Banks by 2,085.5% during the 1st quarter. Private Capital Group LLC now owns 1,508 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,439 shares during the period. Valeo Financial Advisors LLC increased its holdings in SunTrust Banks by 107.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 843 shares during the period. First Personal Financial Services increased its holdings in SunTrust Banks by 114.3% during the 1st quarter. First Personal Financial Services now owns 1,963 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,047 shares during the period. Icon Wealth Partners LLC purchased a new stake in SunTrust Banks during the 4th quarter worth about $156,000. Finally, Avestar Capital LLC purchased a new stake in SunTrust Banks during the 4th quarter worth about $162,000. Hedge funds and other institutional investors own 83.61% of the company’s stock.
STI has been the topic of several recent research reports. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Wednesday, March 21st. Credit Suisse Group restated a “hold” rating and set a $71.00 price target on shares of SunTrust Banks in a report on Monday, February 26th. Keefe, Bruyette & Woods restated a “buy” rating and set a $75.00 price target on shares of SunTrust Banks in a report on Thursday, April 5th. ValuEngine upgraded SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $75.00 price target on shares of SunTrust Banks in a report on Sunday, April 22nd. Eighteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $70.50.
In other SunTrust Banks news, EVP Jerome T. Lienhard sold 8,750 shares of the stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $69.06, for a total transaction of $604,275.00. Following the completion of the sale, the executive vice president now directly owns 41,374 shares of the company’s stock, valued at approximately $2,857,288.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Hugh S. Cummins III sold 11,000 shares of the stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $69.00, for a total value of $759,000.00. Following the sale, the chief operating officer now directly owns 40,198 shares of the company’s stock, valued at $2,773,662. The disclosure for this sale can be found here. Insiders have sold a total of 21,250 shares of company stock valued at $1,464,300 over the last ninety days. 0.52% of the stock is owned by insiders.
SunTrust Banks traded up $0.18, reaching $69.11, during mid-day trading on Wednesday, Marketbeat reports. 5,967 shares of the company were exchanged, compared to its average volume of 2,745,958. SunTrust Banks, Inc. has a twelve month low of $51.96 and a twelve month high of $73.37. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $31.92 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.01 and a beta of 1.31.
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, topping analysts’ consensus estimates of $1.11 by $0.18. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period last year, the firm earned $0.91 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. equities analysts predict that SunTrust Banks, Inc. will post 5.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 31st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.32%. SunTrust Banks’s payout ratio is 39.60%.
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.
Receive News & Ratings for SunTrust Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks and related companies with MarketBeat.com's FREE daily email newsletter.