Amundi Pioneer Asset Management Inc. bought a new stake in SunTrust Banks, Inc. (NYSE:STI) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 214,124 shares of the financial services provider’s stock, valued at approximately $13,830,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. AXA boosted its stake in SunTrust Banks by 72.7% during the 4th quarter. AXA now owns 172,328 shares of the financial services provider’s stock valued at $11,130,000 after purchasing an additional 72,527 shares during the last quarter. Alliancebernstein L.P. boosted its stake in SunTrust Banks by 522.8% during the 4th quarter. Alliancebernstein L.P. now owns 5,543,914 shares of the financial services provider’s stock valued at $358,081,000 after purchasing an additional 4,653,780 shares during the last quarter. Bluestein R H & Co. boosted its stake in SunTrust Banks by 9.0% during the 4th quarter. Bluestein R H & Co. now owns 809,773 shares of the financial services provider’s stock valued at $52,303,000 after purchasing an additional 66,615 shares during the last quarter. Haverford Trust Co. acquired a new position in SunTrust Banks during the 4th quarter valued at about $212,000. Finally, Sequoia Financial Advisors LLC acquired a new position in SunTrust Banks during the 4th quarter valued at about $212,000. Institutional investors own 83.59% of the company’s stock.
Shares of NYSE:STI traded down $2.56 during mid-day trading on Friday, reaching $65.98. The company had a trading volume of 3,626,220 shares, compared to its average volume of 2,819,350. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $32,097.30, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.08 and a beta of 1.33. SunTrust Banks, Inc. has a one year low of $51.96 and a one year high of $73.37.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The company had revenue of $2.27 billion for 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 revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. research analysts predict that SunTrust Banks, Inc. will post 5.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.42%. SunTrust Banks’s dividend payout ratio (DPR) is presently 39.60%.
In related news, insider Susan S. Johnson sold 3,600 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $71.04, for a total value of $255,744.00. Following the sale, the insider now owns 8,857 shares of the company’s stock, valued at approximately $629,201.28. 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 7,500 shares of SunTrust Banks stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $70.13, for a total transaction of $525,975.00. Following the completion of the sale, the insider now directly owns 149,955 shares in the company, valued at approximately $10,516,344.15. The disclosure for this sale can be found here. Insiders sold a total of 40,348 shares of company stock worth $1,289,757 in the last ninety days. 0.52% of the stock is currently owned by insiders.
STI has been the subject of a number of analyst reports. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Wednesday, March 21st. Credit Suisse Group reiterated a “hold” rating and set a $71.00 price target on shares of SunTrust Banks in a research note on Monday, February 26th. Wedbush downgraded SunTrust Banks from an “outperform” rating to a “neutral” rating and cut their price target for the company from $71.00 to $63.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $77.00 price target on shares of SunTrust Banks in a research note on Friday, December 29th. Finally, ValuEngine upgraded SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.52.
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SunTrust Banks 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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