Personal Capital Advisors Corp bought a new position in SunTrust Banks (NYSE:STI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,825 shares of the financial services provider’s stock, valued at approximately $328,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of STI. Valeo Financial Advisors LLC lifted its position in SunTrust Banks by 107.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 843 shares during the period. Icon Wealth Partners LLC bought a new position in SunTrust Banks during the fourth quarter valued at approximately $156,000. Avestar Capital LLC bought a new position in SunTrust Banks during the fourth quarter valued at approximately $162,000. WealthTrust Axiom LLC bought a new position in SunTrust Banks during the fourth quarter valued at approximately $202,000. Finally, Quantitative Systematic Strategies LLC bought a new position in SunTrust Banks during the fourth quarter valued at approximately $202,000. Hedge funds and other institutional investors own 83.68% of the company’s stock.
SunTrust Banks opened at $69.23 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.93. SunTrust Banks has a 1-year low of $51.96 and a 1-year high of $73.37. The company has a market capitalization of $32.23 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.02 and a beta of 1.33.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.18. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.29 billion. SunTrust Banks had a net margin of 24.92% and a return on equity of 10.05%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. equities analysts anticipate that SunTrust Banks will post 5.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be paid a $0.40 dividend. The ex-dividend date is Wednesday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.31%. SunTrust Banks’s dividend payout ratio (DPR) is presently 39.60%.
STI has been the topic of a number of research analyst reports. Morgan Stanley increased 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. Credit Suisse Group restated a “hold” rating and set a $71.00 price objective on shares of SunTrust Banks in a research report on Monday, February 26th. Zacks Investment Research downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. ValuEngine upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $75.00 price objective on shares of SunTrust Banks in a research report on Thursday, April 5th. Eighteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.50.
In other news, Director Frank P. Scruggs, Jr. acquired 1,000 shares of SunTrust Banks stock in a transaction dated Wednesday, May 16th. The stock was purchased at an average cost of $69.01 per share, with a total value of $69,010.00. Following the completion of 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 document filed with the SEC, which is available through the SEC website. Also, Director Steven C. Voorhees acquired 6,000 shares of SunTrust Banks stock in a transaction dated Friday, May 4th. The stock was purchased at an average cost of $65.96 per share, with a total value of $395,760.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $659,600. The disclosure for this purchase can be found here. Over the last three months, insiders sold 21,250 shares of company stock valued at $1,464,300. Corporate insiders own 0.52% of the company’s stock.
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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