Toronto Dominion Bank raised its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 12.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 205,285 shares of the financial services provider’s stock after acquiring an additional 23,083 shares during the period. Toronto Dominion Bank’s holdings in SunTrust Banks were worth $13,260,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in SunTrust Banks by 31.4% in the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock worth $435,947,000 after acquiring an additional 1,742,756 shares during the period. Boston Partners lifted its stake in SunTrust Banks by 3.2% in the fourth quarter. Boston Partners now owns 7,033,278 shares of the financial services provider’s stock worth $454,279,000 after acquiring an additional 221,043 shares during the period. Bank of New York Mellon Corp lifted its stake in SunTrust Banks by 7.3% in the third quarter. Bank of New York Mellon Corp now owns 6,448,472 shares of the financial services provider’s stock worth $385,427,000 after acquiring an additional 437,387 shares during the period. LSV Asset Management lifted its position in shares of SunTrust Banks by 0.5% during the fourth quarter. LSV Asset Management now owns 6,367,422 shares of the financial services provider’s stock valued at $411,271,000 after buying an additional 33,530 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of SunTrust Banks by 9.5% during the fourth quarter. Victory Capital Management Inc. now owns 6,359,543 shares of the financial services provider’s stock valued at $410,764,000 after buying an additional 549,640 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.
Shares of SunTrust Banks, Inc. (STI) traded up $0.73 during trading hours on Friday, hitting $71.07. The company had a trading volume of 1,412,325 shares, compared to its average volume of 3,818,493. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43. The firm has a market cap of $33,530.00, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 1.14 and a beta of 1.37. SunTrust Banks, Inc. has a 1 year low of $51.96 and a 1 year high of $72.62.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.04. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. SunTrust Banks’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. sell-side analysts expect that SunTrust Banks, Inc. will post 5.03 EPS for the current year.
The company 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 $0.40 dividend. This represents a $1.60 annualized dividend 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%.
In other news, insider Susan S. Johnson sold 3,600 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was 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 of the company’s stock, valued at $629,201.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jerome T. Lienhard sold 29,248 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total value of $508,037.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,348 shares of company stock valued at $1,529,997. 0.55% of the stock is currently owned by corporate insiders.
Several research firms have commented on STI. Zacks Investment Research lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $77.00 price objective on shares of SunTrust Banks in a research report on Friday, December 29th. BMO Capital Markets reaffirmed a “hold” rating and issued a $79.00 price objective on shares of SunTrust Banks in a research report on Sunday, January 21st. Credit Suisse Group reaffirmed a “hold” rating and issued a $68.00 price objective on shares of SunTrust Banks in a research report on Thursday, January 4th. Finally, UBS Group upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and increased their price target for the stock from $62.00 to $73.00 in a report on Tuesday, December 12th. Fifteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $69.02.
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About SunTrust Banks
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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