Avestar Capital LLC acquired a new position in shares of SunTrust Banks, Inc. (NYSE:STI) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,690 shares of the financial services provider’s stock, valued at approximately $162,000.
Other institutional investors have also modified their holdings of the company. Valeo Financial Advisors LLC grew its position in SunTrust Banks by 107.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 843 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of SunTrust Banks in the fourth quarter valued at about $156,000. Dupont Capital Management Corp boosted its holdings in shares of SunTrust Banks by 55.2% in the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 933 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of SunTrust Banks in the fourth quarter valued at about $202,000. Finally, WealthTrust Axiom LLC purchased a new stake in shares of SunTrust Banks in the fourth quarter valued at about $202,000. 83.57% of the stock is currently owned by institutional investors.
Shares of SunTrust Banks, Inc. (NYSE STI) opened at $72.58 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43. SunTrust Banks, Inc. has a 52 week low of $51.96 and a 52 week high of $73.37. The company has a market cap of $34,550.00, a PE ratio of 18.85, a P/E/G ratio of 1.16 and a beta of 1.32.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, February 27th. SunTrust Banks’s payout ratio is currently 41.56%.
STI has been the topic of several analyst reports. UBS Group raised shares of SunTrust Banks from a “neutral” rating to a “buy” rating and lifted their target price for the company from $62.00 to $73.00 in a report on Tuesday, December 12th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $77.00 target price on shares of SunTrust Banks in a report on Friday, December 29th. Vining Sparks reaffirmed a “buy” rating and issued a $85.00 target price on shares of SunTrust Banks in a report on Monday, January 8th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $74.00 target price on shares of SunTrust Banks in a report on Thursday, January 4th. Sixteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $69.16.
In other SunTrust Banks news, insider Susan S. Johnson sold 3,600 shares of SunTrust Banks stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.04, for a total transaction of $255,744.00. Following the completion of the transaction, the insider now owns 8,857 shares in the company, valued at $629,201.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jerome T. Lienhard sold 29,248 shares of SunTrust Banks stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total transaction of $508,037.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,348 shares of company stock valued at $1,289,757. 0.55% of the stock is currently owned by company insiders.
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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