Smith Asset Management Group LP raised its position in SunTrust Banks, Inc. (NYSE:STI) by 1.8% in the 4th quarter, HoldingsChannel reports. The firm owned 406,677 shares of the financial services provider’s stock after buying an additional 7,118 shares during the period. Smith Asset Management Group LP’s holdings in SunTrust Banks were worth $26,299,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Whittier Trust Co. increased its position in shares of SunTrust Banks by 119.9% during the third quarter. Whittier Trust Co. now owns 4,197 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 2,288 shares in the last quarter. Copper Rock Capital Partners LLC increased its position in shares of SunTrust Banks by 48.4% during the fourth quarter. Copper Rock Capital Partners LLC now owns 135,293 shares of the financial services provider’s stock worth $8,854,000 after acquiring an additional 44,110 shares in the last quarter. Highstreet Asset Management Inc. bought a new stake in shares of SunTrust Banks during the third quarter worth $778,000. Commerce Bank increased its position in shares of SunTrust Banks by 293.8% during the third quarter. Commerce Bank now owns 17,967 shares of the financial services provider’s stock worth $1,074,000 after acquiring an additional 13,405 shares in the last quarter. Finally, Bank of Stockton increased its position in shares of SunTrust Banks by 17.8% during the third quarter. Bank of Stockton now owns 12,190 shares of the financial services provider’s stock worth $728,000 after acquiring an additional 1,840 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.
Shares of SunTrust Banks, Inc. (NYSE STI) opened at $71.01 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market cap of $33,648.02, a PE ratio of 17.64, a PEG ratio of 1.14 and a beta of 1.37. SunTrust Banks, Inc. has a 12 month low of $51.96 and a 12 month high of $72.62.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The company 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%. SunTrust Banks’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS. research analysts forecast that SunTrust Banks, Inc. will post 5.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors 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 2.25%. The ex-dividend date is Tuesday, February 27th. SunTrust Banks’s dividend payout ratio is 35.71%.
In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 7,500 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $70.13, for a total value of $525,975.00. Following the transaction, the insider now directly owns 149,955 shares of the company’s stock, valued at approximately $10,516,344.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Susan S. Johnson sold 3,600 shares of the firm’s 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 directly owns 8,857 shares in the company, valued at $629,201.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,348 shares of company stock worth $1,529,997. 0.55% of the stock is owned by insiders.
Several brokerages have recently issued reports on STI. Morgan Stanley increased their price objective on shares of SunTrust Banks from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. BMO Capital Markets reissued a “hold” rating and set a $79.00 price objective on shares of SunTrust Banks in a research report on Sunday, January 21st. B. Riley reissued a “hold” rating and set a $70.00 price objective on shares of SunTrust Banks in a research report on Monday, January 22nd. Oppenheimer restated a “hold” rating on shares of SunTrust Banks in a report on Monday, January 22nd. Finally, Vining Sparks restated a “buy” rating and set a $85.00 target price on shares of SunTrust Banks in a report on Monday, January 8th. Fifteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $69.02.
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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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