SunTrust Banks, Inc. (STI) Director Sells $72,006.00 in Stock
SunTrust Banks, Inc. (NYSE:STI) Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of SunTrust Banks, Inc. (NYSE:STI) traded down $0.39 during midday trading on Wednesday, reaching $57.69. The company’s stock had a trading volume of 4,295,186 shares, compared to its average volume of 2,868,140. SunTrust Banks, Inc. has a fifty-two week low of $44.49 and a fifty-two week high of $61.69. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market cap of $28,633.40, a P/E ratio of 15.58, a P/E/G ratio of 1.62 and a beta of 1.29.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the firm posted $0.91 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. equities research analysts predict that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
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STI has been the topic of a number of research analyst reports. UBS AG reaffirmed a “neutral” rating and set a $62.00 price objective (up from $61.00) on shares of SunTrust Banks in a research report on Friday, October 6th. Citigroup Inc. cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 target price on shares of SunTrust Banks in a research note on Monday, October 23rd. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, October 10th. Finally, FBR & Co restated a “hold” rating and issued a $62.00 price objective on shares of SunTrust Banks in a research note on Friday, October 20th. Nineteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $63.18.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fiduciary Trust Co. purchased a new position in SunTrust Banks in the 2nd quarter worth approximately $118,000. Advisory Services Network LLC boosted its position in shares of SunTrust Banks by 0.9% during the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 20 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of SunTrust Banks during the second quarter valued at approximately $136,000. Independent Portfolio Consultants Inc. boosted its position in shares of SunTrust Banks by 184.7% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,648 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 1,718 shares in the last quarter. Finally, Dupont Capital Management Corp boosted its position in shares of SunTrust Banks by 55.2% during the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 933 shares in the last quarter. 82.32% of the stock is currently owned by institutional investors.
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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