Wagner Wealth Management LLC purchased a new position in shares of SunTrust Banks, Inc. (NYSE:STI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 34,073 shares of the financial services provider’s stock, valued at approximately $2,318,000. SunTrust Banks makes up about 1.7% of Wagner Wealth Management LLC’s holdings, making the stock its 12th biggest position.
A number of other large investors have also modified their holdings of STI. Alliancebernstein L.P. lifted its position in SunTrust Banks by 522.8% during the 4th quarter. Alliancebernstein L.P. now owns 5,543,914 shares of the financial services provider’s stock worth $358,081,000 after buying an additional 4,653,780 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of SunTrust Banks by 54.0% in the 4th quarter. Lazard Asset Management LLC now owns 6,615,575 shares of the financial services provider’s stock valued at $427,299,000 after purchasing an additional 2,319,782 shares during the period. Schafer Cullen Capital Management Inc. bought a new stake in shares of SunTrust Banks in the 4th quarter valued at about $81,267,000. Renaissance Technologies LLC raised its holdings in shares of SunTrust Banks by 1,837.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,224,917 shares of the financial services provider’s stock valued at $79,117,000 after purchasing an additional 1,161,700 shares during the period. Finally, APG Asset Management N.V. raised its holdings in shares of SunTrust Banks by 162.8% in the 4th quarter. APG Asset Management N.V. now owns 1,761,268 shares of the financial services provider’s stock valued at $94,737,000 after purchasing an additional 1,091,177 shares during the period. 83.59% of the stock is currently owned by hedge funds and other institutional investors.
In other SunTrust Banks news, EVP Jerome T. Lienhard sold 29,248 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total transaction of $508,037.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan S. Johnson sold 3,600 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $71.04, for a total transaction of $255,744.00. Following the transaction, the insider now owns 8,857 shares in the company, valued at approximately $629,201.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,348 shares of company stock worth $1,289,757. Company insiders own 0.52% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $77.00 target price on shares of SunTrust Banks in a report on Friday, December 29th. ValuEngine raised shares of SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $73.00 target price (up from $71.00) on shares of SunTrust Banks in a report on Wednesday, March 14th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $79.00 target price on shares of SunTrust Banks in a report on Sunday, January 21st. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. SunTrust Banks presently has an average rating of “Hold” and a consensus price target of $69.61.
SunTrust Banks, Inc. (STI) opened at $68.05 on Friday. SunTrust Banks, Inc. has a 52 week low of $51.96 and a 52 week high of $73.37. The company has a market cap of $33,188.44, a PE ratio of 15.19, a P/E/G ratio of 1.13 and a beta of 1.33. 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 (NYSE:STI) last announced its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, beating the Zacks’ 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 business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the business earned $0.90 EPS. SunTrust Banks’s quarterly revenue was up 5.1% on a year-over-year basis. equities analysts forecast that SunTrust Banks, Inc. will post 5.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.35%. SunTrust Banks’s payout ratio is presently 35.71%.
SunTrust Banks 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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