Private Ocean LLC grew its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 14.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,146 shares of the financial services provider’s stock after buying an additional 146 shares during the quarter. Private Ocean LLC’s holdings in SunTrust Banks were worth $79,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in STI. MRA Associates USA LLC acquired a new stake in shares of SunTrust Banks in the second quarter valued at about $25,000. Venturi Wealth Management LLC bought a new stake in SunTrust Banks during the 3rd quarter worth $32,000. Manchester Financial Inc. bought a new stake in SunTrust Banks during the 2nd quarter worth $34,000. Private Capital Group LLC grew its position in SunTrust Banks by 60.0% during the 2nd quarter. Private Capital Group LLC now owns 664 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 249 shares during the last quarter. Finally, Burt Wealth Advisors bought a new stake in SunTrust Banks during the 2nd quarter worth $43,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the company. Argus set a $81.00 price objective on SunTrust Banks and gave the stock a “buy” rating in a research report on Friday, July 19th. Morgan Stanley boosted their price objective on SunTrust Banks from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group upgraded SunTrust Banks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $75.00 in a research report on Tuesday, October 8th. Finally, UBS Group reduced their price objective on SunTrust Banks from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. SunTrust Banks currently 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, reaching $71.04. The company had a trading volume of 1,506,431 shares, compared to its average volume of 3,241,210. The company’s fifty day moving average price is $68.23 and its 200-day moving average price is $64.48. SunTrust Banks, Inc. has a 12 month low of $46.05 and a 12 month high of $71.75. The stock has a market cap of $31.71 billion, a P/E ratio of 12.46, a PEG 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 (NYSE:STI) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.40 EPS for the quarter, meeting analysts’ consensus estimates of $1.40. SunTrust Banks had a return on equity of 11.40% and a net margin of 22.31%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the company posted $1.56 EPS. The business’s revenue was up 2.6% on a year-over-year basis. As a group, equities analysts predict that SunTrust Banks, Inc. will post 5.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be given a $0.56 dividend. The ex-dividend date of this dividend 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 presently 39.30%.
In other SunTrust Banks news, insider Ellen Koebler sold 4,000 shares of the company’s 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 sale, the insider now owns 1 shares in the company, valued at approximately $60.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.42% of the company’s stock.
SunTrust Banks 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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