Biltmore Family Office LLC purchased a new stake in shares of SunTrust Banks, Inc. (NYSE:STI) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 6,500 shares of the financial services provider’s stock, valued at approximately $420,000.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of SunTrust Banks by 2.4% during the 4th quarter. BlackRock Inc. now owns 44,576,788 shares of the financial services provider’s stock valued at $2,879,214,000 after buying an additional 1,047,842 shares during the period. Boston Partners grew its stake in shares of SunTrust Banks by 3.2% during the 4th quarter. Boston Partners now owns 7,033,278 shares of the financial services provider’s stock valued at $454,279,000 after buying an additional 221,043 shares during the period. Bank of New York Mellon Corp grew its stake in shares of SunTrust Banks by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 6,787,866 shares of the financial services provider’s stock valued at $438,428,000 after buying an additional 339,394 shares during the period. Lazard Asset Management LLC grew its stake in shares of SunTrust Banks by 54.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,615,575 shares of the financial services provider’s stock valued at $427,299,000 after buying an additional 2,319,782 shares during the period. Finally, LSV Asset Management grew its stake in shares of SunTrust Banks by 0.5% during the 4th 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 period. Institutional investors own 83.59% of the company’s stock.
In other news, EVP Jerome T. Lienhard sold 29,248 shares of the 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 through the SEC website. Also, Vice Chairman Mark A. Chancy sold 7,500 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $70.13, for a total transaction of $525,975.00. Following the completion of the transaction, the insider now owns 149,955 shares of the company’s stock, valued at $10,516,344.15. The disclosure for this sale can be found here. Insiders sold 40,348 shares of company stock valued at $1,289,757 over the last quarter. Insiders own 0.52% of the company’s stock.
STI has been the subject of several research reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $75.00 price objective on shares of SunTrust Banks in a research note on Thursday. Barclays upped their price target on shares of SunTrust Banks from $68.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. B. Riley reaffirmed a “hold” rating and set a $70.00 price target on shares of SunTrust Banks in a research report on Monday, January 22nd. Zacks Investment Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Monday, March 26th. 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 report on Monday, January 8th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $69.52.
STI traded down $2.56 on Friday, hitting $65.98. 3,626,220 shares of the company’s stock were exchanged, compared to its average volume of 2,819,350. SunTrust Banks, Inc. has a twelve month low of $51.96 and a twelve month high of $73.37. 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 $32,097.30, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 1.08 and a beta of 1.33.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. SunTrust Banks’s quarterly revenue was up 5.1% on a year-over-year basis. research analysts anticipate that SunTrust Banks, Inc. will post 5.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Tuesday, February 27th. SunTrust Banks’s dividend payout ratio (DPR) is presently 39.60%.
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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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