YHB Investment Advisors Inc. increased its stake in SunTrust Banks, Inc. (NYSE:STI) by 32.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,870 shares of the financial services provider’s stock after purchasing an additional 17,719 shares during the quarter. YHB Investment Advisors Inc.’s holdings in SunTrust Banks were worth $3,676,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of STI. Moody National Bank Trust Division grew its stake in SunTrust Banks by 48.9% during the 4th quarter. Moody National Bank Trust Division now owns 1,072 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 352 shares in the last quarter. Capital Insight Partners LLC lifted its holdings in shares of SunTrust Banks by 0.9% during the 4th quarter. Capital Insight Partners LLC now owns 39,327 shares of the financial services provider’s stock valued at $1,984,000 after buying an additional 363 shares during the last quarter. Huntington National Bank lifted its holdings in shares of SunTrust Banks by 9.5% during the 3rd quarter. Huntington National Bank now owns 9,704 shares of the financial services provider’s stock valued at $648,000 after buying an additional 839 shares during the last quarter. Cadence Capital Management LLC lifted its holdings in shares of SunTrust Banks by 1.7% during the 3rd quarter. Cadence Capital Management LLC now owns 53,960 shares of the financial services provider’s stock valued at $3,604,000 after buying an additional 897 shares during the last quarter. Finally, Associated Banc Corp lifted its holdings in shares of SunTrust Banks by 1.5% during the 3rd quarter. Associated Banc Corp now owns 61,395 shares of the financial services provider’s stock valued at $4,100,000 after buying an additional 898 shares during the last quarter. 82.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of STI traded up $0.39 during trading hours on Friday, hitting $55.76. 406,067 shares of the stock traded hands, compared to its average volume of 5,108,074. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. SunTrust Banks, Inc. has a 1-year low of $46.05 and a 1-year high of $75.08. The firm has a market capitalization of $24.92 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.17. SunTrust Banks had a return on equity of 11.66% and a net margin of 28.17%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts anticipate that SunTrust Banks, Inc. will post 5.6 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Friday, November 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Thursday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is presently 49.50%.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered SunTrust Banks from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets reduced their price target on SunTrust Banks from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, October 22nd. B. Riley set a $79.00 price target on SunTrust Banks and gave the company a “buy” rating in a report on Monday, October 15th. Piper Jaffray Companies lowered SunTrust Banks from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $76.00 to $74.00 in a report on Thursday, September 13th. Finally, Wedbush set a $75.00 price target on SunTrust Banks and gave the company a “hold” rating in a report on Thursday, September 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. SunTrust Banks has an average rating of “Hold” and a consensus price target of $74.08.
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About SunTrust Banks
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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