Bokf Na grew its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 64.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,898 shares of the financial services provider’s stock after acquiring an additional 5,076 shares during the quarter. Bokf Na’s holdings in SunTrust Banks were worth $651,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Resources Investment Advisors Inc. lifted its position in SunTrust Banks by 465.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 565 shares of the financial services provider’s stock worth $28,000 after buying an additional 465 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in SunTrust Banks in the fourth quarter worth $30,000. Athena Capital Advisors LLC bought a new stake in SunTrust Banks in the fourth quarter worth $35,000. Financial Gravity Companies Inc. bought a new stake in SunTrust Banks in the fourth quarter worth $37,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its position in SunTrust Banks by 864.2% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 781 shares of the financial services provider’s stock worth $39,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 80.05% of the company’s stock.
A number of brokerages recently issued reports on STI. ValuEngine upgraded SunTrust Banks from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Macquarie upgraded SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 price target for the company in a research report on Friday, February 8th. Morgan Stanley restated an “equal weight” rating and issued a $73.00 price target (down from $80.00) on shares of SunTrust Banks in a research report on Monday, March 11th. Zacks Investment Research lowered SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Finally, Robert W. Baird lowered SunTrust Banks from an “outperform” rating to a “neutral” rating and set a $61.90 target price on the stock. in a research note on Monday, January 28th. Sixteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $71.20.
Shares of SunTrust Banks stock opened at $63.07 on Wednesday. The firm has a market cap of $28.77 billion, a PE ratio of 11.06, a PEG ratio of 1.32 and a beta of 1.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 0.95. SunTrust Banks, Inc. has a 12 month low of $46.05 and a 12 month high of $75.08.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, January 18th. The financial services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.40 by $0.10. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. Sell-side analysts predict that SunTrust Banks, Inc. will post 5.8 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 27th. This represents a $2.00 annualized dividend and a dividend yield of 3.17%. SunTrust Banks’s dividend payout ratio is currently 35.09%.
In other news, EVP Jorge Arrieta sold 4,000 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $66.25, for a total transaction of $265,000.00. Following the transaction, the executive vice president now owns 8,662 shares in the company, valued at $573,857.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total value of $653,800.00. Following the transaction, the insider now owns 205,846 shares in the company, valued at approximately $13,458,211.48. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
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SunTrust Banks Company Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in 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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