Krilogy Financial LLC grew its holdings in SunTrust Banks, Inc. (NYSE:STI) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,153 shares of the financial services provider’s stock after acquiring an additional 90 shares during the quarter. Krilogy Financial LLC’s holdings in SunTrust Banks were worth $292,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in STI. Guardian Life Insurance Co. of America raised its stake in SunTrust Banks by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 1,893 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 18 shares in the last quarter. Fiduciary Trust Co. acquired a new position in SunTrust Banks in the second quarter valued at about $118,000. Westwood Holdings Group Inc. acquired a new position in SunTrust Banks in the second quarter valued at about $136,000. Independent Portfolio Consultants Inc. raised its stake in SunTrust Banks by 184.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,648 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 1,718 shares in the last quarter. Finally, Huntington National Bank raised its stake 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 valued at $159,000 after purchasing an additional 80 shares in the last quarter. 81.18% of the stock is owned by institutional investors.
In other SunTrust Banks news, insider Susan S. Johnson sold 808 shares of SunTrust Banks stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $57.34, for a total value of $46,330.72. Following the transaction, the insider now directly owns 3,515 shares of the company’s stock, valued at approximately $201,550.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by insiders.
SunTrust Banks, Inc. (STI) traded down 0.32% on Thursday, hitting $59.98. The stock had a trading volume of 882,248 shares. SunTrust Banks, Inc. has a 1-year low of $44.25 and a 1-year high of $61.69. The company has a 50-day moving average price of $56.84 and a 200-day moving average price of $56.25. The stock has a market capitalization of $28.89 billion, a price-to-earnings ratio of 15.95 and a beta of 1.31.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, July 21st. The financial services provider reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.05. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.29 billion. SunTrust Banks had a return on equity of 8.48% and a net margin of 20.51%. SunTrust Banks’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. Equities analysts predict that SunTrust Banks, Inc. will post $4.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.40 dividend. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.26. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Tuesday, August 29th. SunTrust Banks’s payout ratio is 42.67%.
SunTrust Banks declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $1.32 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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A number of research firms recently commented on STI. FBR & Co downgraded SunTrust Banks from a “buy” rating to a “neutral” rating and set a $62.00 price target for the company. in a research note on Tuesday. Nomura boosted their price target on SunTrust Banks from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, September 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $62.00 price target on shares of SunTrust Banks in a research note on Tuesday, October 3rd. UBS AG reaffirmed a “neutral” rating and issued a $62.00 price target (up previously from $61.00) on shares of SunTrust Banks in a research note on Friday, October 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $69.00 price target on shares of SunTrust Banks in a research note on Thursday. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. SunTrust Banks has a consensus rating of “Hold” and an average price target of $62.48.
SunTrust Banks 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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