Trustcore Financial Services LLC bought a new position in SunTrust Banks, Inc. (NYSE:STI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,961 shares of the financial services provider’s stock, valued at approximately $514,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Valeo Financial Advisors LLC raised its stake in shares of SunTrust Banks by 107.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 843 shares during the last quarter. Wealthfront Inc. raised its stake in shares of SunTrust Banks by 17.9% in the fourth quarter. Wealthfront Inc. now owns 22,939 shares of the financial services provider’s stock worth $1,482,000 after acquiring an additional 3,484 shares during the last quarter. Virtu Financial LLC bought a new position in shares of SunTrust Banks in the fourth quarter worth about $292,000. Tower Research Capital LLC TRC bought a new position in shares of SunTrust Banks in the fourth quarter worth about $647,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of SunTrust Banks by 2.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,448,189 shares of the financial services provider’s stock worth $93,539,000 after acquiring an additional 36,776 shares during the last quarter. 81.91% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on STI shares. Sandler O’Neill downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research note on Monday, October 23rd. Keefe, Bruyette & Woods raised shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 12th. Wedbush downgraded shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $71.00 to $63.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. UBS Group raised shares of SunTrust Banks from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $73.00 in a research note on Tuesday, December 12th. Finally, Morgan Stanley raised shares of SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price target for the company in a research note on Monday, January 8th. Fifteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $69.02.
In other news, EVP Jerome T. Lienhard sold 29,248 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total value of $508,037.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.
SunTrust Banks, Inc. (NYSE STI) opened at $71.15 on Monday. The stock has a market cap of $33,506.74, a P/E ratio of 17.57, a P/E/G ratio of 1.13 and a beta of 1.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 0.93. SunTrust Banks, Inc. has a 1-year low of $51.96 and a 1-year high of $72.06.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.04. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. equities analysts forecast that SunTrust Banks, Inc. will post 5.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, February 27th. SunTrust Banks’s dividend payout ratio is currently 35.71%.
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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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