Wealthfront Advisers LLC decreased its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 28,369 shares of the financial services provider’s stock after selling 855 shares during the period. Wealthfront Advisers LLC’s holdings in SunTrust Banks were worth $1,952,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of STI. MRA Associates USA LLC bought a new stake in SunTrust Banks during the second quarter worth about $25,000. Manchester Financial Inc. bought a new stake in SunTrust Banks during the second quarter worth about $34,000. Private Capital Group LLC lifted 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 purchasing an additional 249 shares during the last quarter. Burt Wealth Advisors bought a new stake in SunTrust Banks during the second quarter worth about $43,000. Finally, CWM LLC lifted its stake in SunTrust Banks by 131.7% during the second quarter. CWM LLC now owns 709 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 403 shares during the last quarter. 79.73% of the stock is owned by institutional investors.
In other news, Vice Chairman Mark A. Chancy sold 20,973 shares of SunTrust Banks stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $65.21, for a total value of $1,367,649.33. Following the transaction, the insider now owns 246,630 shares in the company, valued at $16,082,742.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ellen Koebler sold 4,000 shares of SunTrust Banks stock in a transaction dated 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 owns 1 shares in the company, valued at approximately $60.84. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
Several brokerages have issued reports on STI. Jefferies Financial Group raised SunTrust Banks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $75.00 in a research note on Tuesday, October 8th. UBS Group lifted their price target on SunTrust Banks from $68.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Finally, Argus set a $81.00 price target on 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 four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $68.11.
STI opened at $68.25 on Thursday. The company has a market cap of $29.71 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.51 and a beta of 1.53. The business’s 50-day moving average price is $65.90 and its 200-day moving average price is $63.62. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.85. SunTrust Banks, Inc. has a 12 month low of $46.05 and a 12 month high of $69.57.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.39 billion. SunTrust Banks had a return on equity of 11.86% and a net margin of 23.92%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 earnings per share. Equities research analysts forecast that SunTrust Banks, Inc. will post 5.55 earnings per share for the current fiscal year.
About SunTrust Banks
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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