151,453 Shares in SunTrust Banks, Inc. (STI) Acquired by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. acquired a new position in shares of SunTrust Banks, Inc. (NYSE:STI) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 151,453 shares of the financial services provider’s stock, valued at approximately $7,639,000.

A number of other hedge funds have also bought and sold shares of STI. Rowland & Co. Investment Counsel ADV increased its holdings in shares of SunTrust Banks by 0.3% in the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 66,070 shares of the financial services provider’s stock valued at $3,333,000 after acquiring an additional 204 shares during the last quarter. JOYN Advisors Inc. increased its holdings in shares of SunTrust Banks by 14.5% in the 4th quarter. JOYN Advisors Inc. now owns 1,718 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 218 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA increased its holdings in shares of SunTrust Banks by 1.9% in the 4th quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 11,806 shares of the financial services provider’s stock valued at $595,000 after acquiring an additional 219 shares during the last quarter. Berkeley Capital Partners LLC increased its holdings in shares of SunTrust Banks by 4.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 5,307 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 222 shares during the last quarter. Finally, Boston Advisors LLC increased its holdings in shares of SunTrust Banks by 0.4% in the 4th quarter. Boston Advisors LLC now owns 63,757 shares of the financial services provider’s stock valued at $3,216,000 after acquiring an additional 261 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

NYSE:STI opened at $63.80 on Friday. SunTrust Banks, Inc. has a 12-month low of $46.05 and a 12-month high of $75.08. The company has a market cap of $28.28 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.31 and a beta of 1.55. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.68.

SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, January 18th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts expect that SunTrust Banks, Inc. will post 5.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $2.00 dividend on an annualized basis and a yield of 3.13%. SunTrust Banks’s dividend payout ratio is currently 35.09%.

In related news, EVP Jorge Arrieta sold 4,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 8,662 shares in the company, valued at approximately $573,857.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $13,458,211.48. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

A number of brokerages have recently weighed in on STI. UBS Group downgraded SunTrust Banks from a “buy” rating to a “neutral” rating and boosted their price target for the company from $68.00 to $71.00 in a report on Monday, March 4th. Sanford C. Bernstein downgraded SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 price target for the company. in a report on Friday, February 8th. Sandler O’Neill downgraded SunTrust Banks from a “buy” rating to a “hold” rating and set a $69.00 price target for the company. in a report on Friday, February 8th. ValuEngine upgraded SunTrust Banks from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Finally, Keefe, Bruyette & Woods downgraded SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Friday, February 8th. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $71.20.

COPYRIGHT VIOLATION WARNING: “151,453 Shares in SunTrust Banks, Inc. (STI) Acquired by Basswood Capital Management L.L.C.” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2019/03/17/151453-shares-in-suntrust-banks-inc-sti-acquired-by-basswood-capital-management-l-l-c.html.

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.

Read More: Derivative

Institutional Ownership by Quarter for SunTrust Banks (NYSE:STI)

Receive News & Ratings for SunTrust Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply