SG Americas Securities LLC lifted its holdings in SunTrust Banks, Inc. (NYSE:STI) by 1,566.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 256,583 shares of the financial services provider’s stock after acquiring an additional 241,185 shares during the period. SG Americas Securities LLC owned approximately 0.06% of SunTrust Banks worth $17,653,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. MRA Associates USA LLC acquired a new stake in SunTrust Banks during the second quarter worth about $25,000. Venturi Wealth Management LLC acquired a new stake in SunTrust Banks during the third quarter worth about $32,000. Manchester Financial Inc. acquired a new stake in SunTrust Banks during the second quarter worth about $34,000. Burt Wealth Advisors acquired a new stake in SunTrust Banks during the second quarter worth about $43,000. Finally, Private Capital Group LLC grew its stake in SunTrust Banks by 60.0% during the second quarter. Private Capital Group LLC now owns 664 shares of the financial services provider’s stock worth $44,000 after buying an additional 249 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.
A number of brokerages have issued reports on STI. Morgan Stanley increased their price objective on shares of SunTrust Banks from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Jefferies Financial Group upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $75.00 in a research note on Tuesday, October 8th. UBS Group reduced their price objective on shares of SunTrust Banks from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Finally, Argus set a $81.00 price objective on shares of SunTrust Banks and gave the stock a “buy” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. SunTrust Banks currently has an average rating of “Hold” and an average price target of $68.20.
Shares of STI stock traded up $0.43 on Friday, reaching $71.04. The company had a trading volume of 1,529,022 shares, compared to its average volume of 3,241,210. The stock has a market capitalization of $31.71 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.62 and a beta of 1.53. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.83. SunTrust Banks, Inc. has a one year low of $46.05 and a one year high of $71.75. The business’s 50-day moving average is $68.18 and its 200 day moving average is $64.44.
SunTrust Banks (NYSE:STI) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.40 EPS for the quarter, hitting analysts’ consensus estimates of $1.40. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. SunTrust Banks had a net margin of 22.31% and a return on equity of 11.40%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.56 earnings per share. On average, sell-side analysts forecast that SunTrust Banks, Inc. will post 5.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be issued a $0.56 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.15%. SunTrust Banks’s dividend payout ratio (DPR) is currently 39.30%.
In other news, insider Ellen Koebler sold 4,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $60.84, for a total value of $243,360.00. Following the completion of the transaction, the insider now owns 1 shares of the company’s stock, valued at $60.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.
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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