Banco de Sabadell S.A bought a new stake in SunTrust Banks, Inc. (NYSE:STI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 57,555 shares of the financial services provider’s stock, valued at approximately $3,717,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Archford Capital Strategies LLC purchased a new stake in SunTrust Banks in the fourth quarter valued at approximately $574,000. Schafer Cullen Capital Management Inc. purchased a new stake in SunTrust Banks in the fourth quarter valued at approximately $81,267,000. Cullen Capital Management LLC purchased a new stake in SunTrust Banks in the fourth quarter valued at approximately $39,253,000. Wunderlich Capital Managemnt raised its stake in SunTrust Banks by 8.8% in the fourth quarter. Wunderlich Capital Managemnt now owns 21,091 shares of the financial services provider’s stock valued at $1,362,000 after purchasing an additional 1,708 shares in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in shares of SunTrust Banks during the fourth quarter worth approximately $280,000. 83.59% of the stock is currently owned by institutional investors and hedge funds.
STI has been the topic of several research reports. Barclays lifted their price target on shares of SunTrust Banks from $68.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. B. Riley reissued a “hold” rating and set a $70.00 price target on shares of SunTrust Banks in a research note on Monday, January 22nd. Morgan Stanley raised shares of SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price target on the stock in a research note on Monday, January 8th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, December 26th. Finally, Wedbush downgraded shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $71.00 to $63.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Sixteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $69.25.
In related news, EVP Jerome T. Lienhard sold 29,248 shares of SunTrust Banks stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total value of $508,037.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Mark A. Chancy sold 7,500 shares of SunTrust Banks stock in a transaction on Friday, February 16th. The shares were sold at an average price of $70.13, for a total transaction of $525,975.00. Following the completion of the sale, the insider now owns 149,955 shares in the company, valued at approximately $10,516,344.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,348 shares of company stock worth $1,289,757. 0.52% of the stock is owned by insiders.
STI stock opened at $70.67 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43. SunTrust Banks, Inc. has a one year low of $51.96 and a one year high of $73.37. The company has a market cap of $33,497.51, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.14 and a beta of 1.33.
SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. analysts anticipate that SunTrust Banks, Inc. will post 5.03 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Tuesday, February 27th. SunTrust Banks’s payout ratio is 35.71%.
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SunTrust Banks Company Profile
SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.
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