Montag A & Associates Inc. raised its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,184 shares of the financial services provider’s stock after buying an additional 2,564 shares during the quarter. SunTrust Banks comprises 1.2% of Montag A & Associates Inc.’s portfolio, making the stock its 18th largest position. Montag A & Associates Inc.’s holdings in SunTrust Banks were worth $13,566,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in STI. Amundi Pioneer Asset Management Inc. raised its stake in SunTrust Banks by 3.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 304,523 shares of the financial services provider’s stock valued at $18,044,000 after buying an additional 9,924 shares in the last quarter. Thomasville National Bank raised its stake in SunTrust Banks by 3.2% during the second quarter. Thomasville National Bank now owns 180,500 shares of the financial services provider’s stock valued at $11,345,000 after buying an additional 5,591 shares in the last quarter. Fulton Bank N.A. raised its stake in SunTrust Banks by 5.5% during the second quarter. Fulton Bank N.A. now owns 16,660 shares of the financial services provider’s stock valued at $1,047,000 after buying an additional 875 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in SunTrust Banks during the second quarter valued at approximately $20,174,000. Finally, Carroll Financial Associates Inc. raised its stake in SunTrust Banks by 2.4% during the second quarter. Carroll Financial Associates Inc. now owns 8,391 shares of the financial services provider’s stock valued at $527,000 after buying an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.
In related news, insider Ellen Koebler sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 directly owns 1 shares of the company’s stock, valued at approximately $60.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.
Several research firms have recently commented on STI. Jefferies Financial Group raised SunTrust Banks from a “hold” rating to a “buy” rating and upped their target price for the company from $67.00 to $75.00 in a report on Tuesday, October 8th. Morgan Stanley upped their target price on SunTrust Banks from $66.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Argus set a $81.00 target price on SunTrust Banks and gave the company a “buy” rating in a report on Friday, July 19th. Finally, UBS Group lowered their target price on SunTrust Banks from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $68.20.
Shares of NYSE:STI traded up $0.43 during trading on Friday, hitting $71.04. 1,529,022 shares of the company traded hands, compared to its average volume of 3,241,210. The stock has a market capitalization of $31.71 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.62 and a beta of 1.53. The business’s fifty day moving average is $68.18 and its 200-day moving average is $64.44. SunTrust Banks, Inc. has a one year low of $46.05 and a one year high of $71.75. 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 (NYSE:STI) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.40. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. SunTrust Banks had a return on equity of 11.40% and a net margin of 22.31%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.56 earnings per share. On average, analysts forecast that SunTrust Banks, Inc. will post 5.52 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, November 7th. SunTrust Banks’s dividend payout ratio (DPR) is 39.30%.
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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