Raymond James Financial Services Advisors Inc. trimmed its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,557 shares of the financial services provider’s stock after selling 1,425 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in SunTrust Banks were worth $2,125,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of STI. Fiduciary Trust Co. bought a new stake in shares of SunTrust Banks during the second quarter worth $118,000. Advisory Services Network LLC raised its holdings in SunTrust Banks by 0.9% in the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 20 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in SunTrust Banks in the second quarter worth about $136,000. Huntington National Bank raised its holdings in SunTrust Banks by 2.9% in the second quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 80 shares in the last quarter. Finally, Balentine LLC raised its holdings in SunTrust Banks by 2.9% in the second quarter. Balentine LLC now owns 3,148 shares of the financial services provider’s stock worth $179,000 after purchasing an additional 90 shares in the last quarter. 81.86% of the stock is owned by institutional investors.
A number of equities analysts have commented on STI shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $63.00 target price on shares of SunTrust Banks in a report on Wednesday, October 4th. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Friday, September 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $69.00 target price on shares of SunTrust Banks in a report on Thursday, October 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of SunTrust Banks in a report on Monday, October 23rd. Finally, Morgan Stanley upgraded shares of SunTrust Banks from an “underweight” rating to an “equal weight” rating and set a $63.00 target price for the company in a report on Thursday, August 3rd. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. SunTrust Banks currently has a consensus rating of “Hold” and an average target price of $63.66.
In related news, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.55% of the stock is owned by corporate insiders.
Shares of SunTrust Banks, Inc. (NYSE:STI) traded down $0.41 during mid-day trading on Monday, hitting $57.21. The stock had a trading volume of 833,100 shares, compared to its average volume of 3,338,544. SunTrust Banks, Inc. has a 1-year low of $51.13 and a 1-year high of $61.69. The stock has a market capitalization of $27,230.00, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93.
SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.06. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. SunTrust Banks’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. equities analysts expect that SunTrust Banks, Inc. will post 4.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.80%. SunTrust Banks’s dividend payout ratio is currently 41.03%.
About SunTrust Banks
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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