Brown Advisory Inc. raised its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,476 shares of the financial services provider’s stock after purchasing an additional 21,420 shares during the period. Brown Advisory Inc.’s holdings in SunTrust Banks were worth $25,609,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. State of Tennessee Treasury Department raised its position in SunTrust Banks by 8.4% during the fourth quarter. State of Tennessee Treasury Department now owns 419,148 shares of the financial services provider’s stock valued at $27,073,000 after purchasing an additional 32,563 shares in the last quarter. First Republic Investment Management Inc. raised its position in SunTrust Banks by 6.6% during the fourth quarter. First Republic Investment Management Inc. now owns 36,372 shares of the financial services provider’s stock valued at $2,349,000 after purchasing an additional 2,251 shares in the last quarter. Timber Hill LLC acquired a new position in SunTrust Banks during the fourth quarter valued at approximately $2,390,000. GM Advisory Group Inc. acquired a new position in SunTrust Banks during the fourth quarter valued at approximately $281,000. Finally, Baird Financial Group Inc. raised its position in SunTrust Banks by 25.0% during the fourth quarter. Baird Financial Group Inc. now owns 24,505 shares of the financial services provider’s stock valued at $1,583,000 after purchasing an additional 4,896 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.
Several research analysts have commented on the stock. Morgan Stanley boosted their price objective on shares of SunTrust Banks from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. BMO Capital Markets restated 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 restated 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 research report on Monday, January 22nd. Finally, Vining Sparks restated a “buy” rating and set a $85.00 price objective on shares of SunTrust Banks in a research report on Monday, January 8th. Fifteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $69.02.
In related news, Vice Chairman Mark A. Chancy sold 7,500 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $70.13, for a total value of $525,975.00. Following the completion of the sale, the insider now directly owns 149,955 shares in the company, valued at $10,516,344.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jerome T. Lienhard sold 29,248 shares of the stock in a transaction on Tuesday, January 23rd. The shares were 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. Insiders sold 44,348 shares of company stock valued at $1,529,997 over the last 90 days. 0.55% of the stock is currently owned by company insiders.
SunTrust Banks, Inc. (STI) opened at $71.29 on Friday. The stock has a market cap of $33,125.29, a price-to-earnings ratio of 15.91, a PEG ratio of 1.12 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 $72.62.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.04. The business 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 quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. research analysts predict that SunTrust Banks, Inc. will post 5.03 EPS for the current fiscal year.
The business 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 $0.40 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. SunTrust Banks’s payout ratio is 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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