Tiverton Asset Management LLC trimmed its position in SunTrust Banks (NYSE:STI) by 67.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,680 shares of the financial services provider’s stock after selling 3,437 shares during the quarter. Tiverton Asset Management LLC’s holdings in SunTrust Banks were worth $114,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC increased its stake in shares of SunTrust Banks by 107.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $105,000 after buying an additional 843 shares during the period. Icon Wealth Partners LLC purchased a new position in SunTrust Banks during the 4th quarter valued at $156,000. Avestar Capital LLC purchased a new position in SunTrust Banks during the 4th quarter valued at $162,000. Quantitative Systematic Strategies LLC purchased a new position in SunTrust Banks during the 4th quarter valued at $202,000. Finally, WealthTrust Axiom LLC purchased a new position in SunTrust Banks during the 4th quarter valued at $202,000. 84.47% of the stock is currently owned by institutional investors.
Shares of SunTrust Banks stock opened at $68.65 on Friday. The stock has a market capitalization of $31.91 billion, a P/E ratio of 15.36, a PEG ratio of 1.01 and a beta of 1.33. SunTrust Banks has a 1 year low of $51.96 and a 1 year high of $73.37. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.18. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.29 billion. SunTrust Banks had a net margin of 24.92% and a return on equity of 10.05%. SunTrust Banks’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. analysts expect that SunTrust Banks will post 5.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Wednesday, May 30th. SunTrust Banks’s payout ratio is 39.60%.
A number of research analysts have issued reports on the stock. ValuEngine raised shares of SunTrust Banks from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Wednesday, March 21st. Piper Jaffray reissued a “buy” rating and set a $75.00 price objective on shares of SunTrust Banks in a research report on Sunday, April 22nd. Credit Suisse Group reissued a “neutral” rating and set a $73.00 price objective (up from $71.00) on shares of SunTrust Banks in a research report on Wednesday, March 14th. Finally, BMO Capital Markets reduced their price objective on shares of SunTrust Banks from $79.00 to $77.00 and set a “market perform” rating on the stock in a research report on Friday, April 20th. Eighteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $70.50.
In other news, Director Frank P. Scruggs, Jr. purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The shares were bought at an average price of $69.01 per share, for a total transaction of $69,010.00. Following the purchase, the director now directly owns 8,501 shares in the company, valued at approximately $586,654.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Susan S. Johnson sold 3,600 shares of the company’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 owns 8,857 shares in the company, valued at approximately $629,201.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,850 shares of company stock worth $961,044. 0.52% of the stock is currently owned by company insiders.
SunTrust Banks Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.
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