Advisor Group Inc. lowered its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 14.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,736 shares of the financial services provider’s stock after selling 3,606 shares during the quarter. Advisor Group Inc.’s holdings in SunTrust Banks were worth $1,239,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of STI. State of Alaska Department of Revenue lifted its holdings in SunTrust Banks by 64.5% during the second quarter. State of Alaska Department of Revenue now owns 6,679 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 2,620 shares during the last quarter. Eqis Capital Management Inc. purchased a new stake in SunTrust Banks during the second quarter valued at about $288,000. Oakbrook Investments LLC purchased a new stake in SunTrust Banks during the second quarter valued at about $1,245,000. Manning & Napier Advisors LLC purchased a new stake in SunTrust Banks during the second quarter valued at about $675,000. Finally, Financial Architects Inc lifted its holdings in SunTrust Banks by 0.3% during the second quarter. Financial Architects Inc now owns 56,907 shares of the financial services provider’s stock valued at $3,228,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.
Shares of SunTrust Banks, Inc. (NYSE STI) opened at $57.77 on Monday. The stock has a market capitalization of $27,500.44, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29. SunTrust Banks, Inc. has a 52 week low of $51.06 and a 52 week high of $61.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.06. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. equities research analysts anticipate that SunTrust Banks, Inc. will post 4.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. SunTrust Banks’s dividend payout ratio (DPR) is presently 41.03%.
STI has been the topic of several recent research reports. Credit Suisse Group raised shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $56.00 to $60.00 in a report on Monday, October 9th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of SunTrust Banks in a report on Sunday, July 23rd. Barclays PLC increased their price target on shares of SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. Raymond James Financial, Inc. downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 price target on shares of SunTrust Banks in a report on Thursday, July 27th. Eighteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. SunTrust Banks presently has an average rating of “Hold” and a consensus target price of $63.18.
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In related news, Director Kyle P. Legg sold 3,300 shares of the business’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 transaction of $72,006.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.
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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