MainStreet Investment Advisors LLC acquired a new stake in shares of SunTrust Banks, Inc. (NYSE:STI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,063 shares of the financial services provider’s stock, valued at approximately $262,000.
Other institutional investors have also bought and sold shares of the company. Valeo Financial Advisors LLC increased its holdings in shares of SunTrust Banks by 107.5% in 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 in the last quarter. Icon Wealth Partners LLC bought a new stake in shares of SunTrust Banks in the 4th quarter worth $156,000. Avestar Capital LLC bought a new stake in shares of SunTrust Banks in the 4th quarter worth $162,000. Quantitative Systematic Strategies LLC bought a new stake in shares of SunTrust Banks in the 4th quarter worth $202,000. Finally, WealthTrust Axiom LLC bought a new stake in shares of SunTrust Banks in the 4th quarter worth $202,000. 83.57% of the stock is owned by institutional investors and hedge funds.
In other SunTrust Banks news, insider Susan S. Johnson sold 3,600 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $71.04, for a total transaction of $255,744.00. Following the completion of the sale, the insider now owns 8,857 shares of the company’s stock, valued at $629,201.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jerome T. Lienhard sold 29,248 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total value of $508,037.76. The disclosure for this sale can be found here. Insiders have sold 40,348 shares of company stock valued at $1,289,757 in the last three months. 0.55% of the stock is currently owned by corporate insiders.
A number of research firms have commented on STI. Credit Suisse Group reissued a “neutral” rating and issued a $73.00 target price (up previously from $71.00) on shares of SunTrust Banks in a report on Wednesday. ValuEngine raised SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research lowered SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Morgan Stanley lifted their target price on SunTrust Banks from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Oppenheimer reissued a “hold” rating on shares of SunTrust Banks in a report on Monday, January 22nd. Sixteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $69.25.
Shares of SunTrust Banks, Inc. (NYSE:STI) opened at $71.53 on Friday. SunTrust Banks, Inc. has a fifty-two week low of $51.96 and a fifty-two week high of $73.37. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $33,497.50, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.14 and a beta of 1.33.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. SunTrust Banks’s revenue for the quarter was up 5.1% on a year-over-year basis. equities research analysts expect that SunTrust Banks, Inc. will post 5.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.24%. The ex-dividend date was Tuesday, February 27th. SunTrust Banks’s dividend payout ratio is presently 35.71%.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.
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