Culbertson A N & Co. Inc. raised its stake in SunTrust Banks, Inc. (NYSE:STI) by 10.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,975 shares of the financial services provider’s stock after acquiring an additional 780 shares during the period. Culbertson A N & Co. Inc.’s holdings in SunTrust Banks were worth $473,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Massey Quick Simon & CO. LLC bought a new stake in SunTrust Banks in the 1st quarter valued at $30,000. Kessler Investment Group LLC increased its holdings in SunTrust Banks by 64.0% in the 1st quarter. Kessler Investment Group LLC now owns 1,048 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 409 shares during the last quarter. Virtu Financial LLC bought a new stake in SunTrust Banks in the 1st quarter valued at $1,179,000. First Manhattan Co. increased its holdings in SunTrust Banks by 1.5% in the 1st quarter. First Manhattan Co. now owns 13,154 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 198 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in SunTrust Banks in the 1st quarter valued at $577,000. Institutional investors own 81.15% of the company’s stock.
A number of analysts have issued reports on STI shares. ValuEngine upgraded shares of SunTrust Banks from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Jefferies Financial Group downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Saturday, January 5th. Sanford C. Bernstein downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 target price on the stock. in a report on Friday, February 8th. Finally, Sandler O’Neill downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a report on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $70.96.
In related news, Vice Chairman Mark A. Chancy sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total transaction of $653,800.00. Following the transaction, the insider now directly owns 205,846 shares in the company, valued at approximately $13,458,211.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jorge Arrieta sold 4,000 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $66.25, for a total transaction of $265,000.00. Following the transaction, the executive vice president now owns 8,662 shares in the company, valued at $573,857.50. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
Shares of SunTrust Banks stock traded up $0.11 during trading hours on Wednesday, reaching $63.40. The company’s stock had a trading volume of 37,987 shares, compared to its average volume of 3,627,955. The company has a market cap of $28.05 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.37 and a beta of 1.53. SunTrust Banks, Inc. has a one year low of $46.05 and a one year high of $75.08. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.68.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, January 18th. The financial services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.40 by $0.10. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. SunTrust Banks had a net margin of 26.61% and a return on equity of 12.40%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. As a group, sell-side analysts expect that SunTrust Banks, Inc. will post 5.74 earnings per share for the current fiscal year.
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SunTrust Banks Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in 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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