Princeton Global Asset Management LLC boosted its holdings in SunTrust Banks, Inc. (NYSE:STI) by 14.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,208 shares of the financial services provider’s stock after buying an additional 1,658 shares during the quarter. Princeton Global Asset Management LLC’s holdings in SunTrust Banks were worth $892,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Burt Wealth Advisors bought a new stake in shares of SunTrust Banks during the 2nd quarter worth $43,000. Paloma Partners Management Co grew its holdings in shares of SunTrust Banks by 36.2% in the 2nd quarter. Paloma Partners Management Co now owns 31,984 shares of the financial services provider’s stock worth $2,010,000 after acquiring an additional 8,494 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of SunTrust Banks by 5.2% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 77,401 shares of the financial services provider’s stock worth $4,865,000 after purchasing an additional 3,800 shares during the period. LPL Financial LLC raised its position in shares of SunTrust Banks by 31.9% during the second quarter. LPL Financial LLC now owns 90,082 shares of the financial services provider’s stock worth $5,662,000 after purchasing an additional 21,807 shares during the period. Finally, Capital Bank & Trust Co lifted its holdings in shares of SunTrust Banks by 11.8% during the second quarter. Capital Bank & Trust Co now owns 156,095 shares of the financial services provider’s stock valued at $9,727,000 after purchasing an additional 16,474 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.
A number of research firms recently weighed in on STI. Janney Montgomery Scott lowered SunTrust Banks from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. UBS Group cut their price objective on SunTrust Banks from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. Jefferies Financial Group raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and upped their price objective for the company from $67.00 to $75.00 in a research note on Tuesday, October 8th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $72.00 target price (up from $71.00) on shares of SunTrust Banks in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $68.28.
Shares of STI stock traded down $1.55 on Tuesday, reaching $68.87. 1,819,758 shares of the company’s stock traded hands, compared to its average volume of 3,114,714. SunTrust Banks, Inc. has a 12-month low of $46.05 and a 12-month high of $71.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.98 and a current ratio of 0.99. The company has a market capitalization of $31.46 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.53. The business’s 50 day moving average price is $69.82 and its two-hundred day moving average price is $65.23.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.40. SunTrust Banks had a return on equity of 11.40% and a net margin of 22.31%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the business earned $1.56 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts predict that SunTrust Banks, Inc. will post 5.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were paid a dividend of $0.56 per share. The ex-dividend date was Thursday, November 7th. This represents a $2.24 annualized dividend and a yield of 3.25%. SunTrust Banks’s dividend payout ratio (DPR) is presently 39.30%.
In related news, COO Hugh S. Cummins III sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chief operating officer now directly owns 68,404 shares in the company, valued at $4,788,280. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Laura Allison Dukes sold 1,032 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $70.29, for a total transaction of $72,539.28. Following the sale, the chief financial officer now owns 43,943 shares of the company’s stock, valued at $3,088,753.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,032 shares of company stock worth $3,014,559. Company insiders own 0.42% of the company’s stock.
SunTrust Banks Company 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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