SunTrust Banks, Inc. (NYSE:STI) declared a quarterly dividend on Tuesday, February 13th, RTT News reports. Stockholders of record on Wednesday, February 28th will be paid a dividend of 0.40 per share by the financial services provider on Thursday, March 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.36%.
SunTrust Banks has increased its dividend payment by an average of 23.5% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. SunTrust Banks has a payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Analysts expect SunTrust Banks to earn $5.52 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 29.0%.
Shares of SunTrust Banks (STI) traded up $0.33 during midday trading on Tuesday, hitting $67.92. The company had a trading volume of 2,980,900 shares, compared to its average volume of 3,999,137. 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 $31,778.43, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.37. SunTrust Banks has a twelve month low of $51.96 and a twelve month high of $72.06.
In other news, Vice Chairman Mark A. Chancy sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jerome T. Lienhard sold 29,248 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total value of $508,037.76. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.
A number of equities analysts recently issued reports on the company. Morgan Stanley lifted their target price on SunTrust Banks from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. B. Riley restated a “hold” rating and issued a $70.00 target price on shares of SunTrust Banks in a report on Monday, January 22nd. UBS Group cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. BMO Capital Markets restated a “hold” rating and issued a $79.00 target price on shares of SunTrust Banks in a report on Sunday, January 21st. Finally, Oppenheimer restated a “hold” rating on shares of SunTrust Banks in a report on Monday, January 22nd. Fifteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. SunTrust Banks has an average rating of “Hold” and an average target price of $69.02.
About SunTrust Banks
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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