Scout Investments Inc. grew its position in SunTrust Banks (NYSE:STI) by 16.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 715,883 shares of the financial services provider’s stock after purchasing an additional 101,516 shares during the quarter. SunTrust Banks makes up 1.2% of Scout Investments Inc.’s investment portfolio, making the stock its 7th largest position. Scout Investments Inc. owned approximately 0.15% of SunTrust Banks worth $48,709,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. raised its holdings in shares of SunTrust Banks by 1.2% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 199,359 shares of the financial services provider’s stock valued at $13,565,000 after purchasing an additional 2,367 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of SunTrust Banks by 119.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 308,826 shares of the financial services provider’s stock valued at $21,013,000 after purchasing an additional 167,825 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in shares of SunTrust Banks in the 1st quarter valued at $455,000. BlackRock Inc. raised its holdings in shares of SunTrust Banks by 2.1% in the 1st quarter. BlackRock Inc. now owns 45,528,440 shares of the financial services provider’s stock valued at $3,097,755,000 after purchasing an additional 951,652 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its holdings in shares of SunTrust Banks by 34.5% in the 1st quarter. Glen Harbor Capital Management LLC now owns 37,264 shares of the financial services provider’s stock valued at $2,535,000 after purchasing an additional 9,568 shares in the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group raised their price objective on shares of SunTrust Banks from $73.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, April 23rd. Stephens lowered shares of SunTrust Banks from an “overweight” rating to an “equal weight” rating in a report on Monday, April 23rd. They noted that the move was a valuation call. Piper Jaffray Companies reiterated a “buy” rating and set a $75.00 price target on shares of SunTrust Banks in a research note on Sunday, April 22nd. BMO Capital Markets cut their price target on shares of SunTrust Banks from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Friday, April 20th. Finally, Susquehanna Bancshares set a $75.00 price target on shares of SunTrust Banks and gave the stock a “hold” rating in a research note on Tuesday, April 10th. Eighteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. SunTrust Banks currently has an average rating of “Hold” and a consensus price target of $70.50.
NYSE STI opened at $68.65 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $31.91 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.33. SunTrust Banks has a one year low of $51.96 and a one year high of $73.37.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, April 20th. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.18. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.29 billion. SunTrust Banks had a net margin of 24.92% and a return on equity of 10.05%. SunTrust Banks’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. equities analysts anticipate that SunTrust Banks will post 5.28 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. SunTrust Banks’s dividend payout ratio is presently 39.60%.
In other SunTrust Banks news, insider Susan S. Johnson sold 3,600 shares of SunTrust Banks stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.04, for a total value of $255,744.00. Following the transaction, the insider now directly owns 8,857 shares in the company, valued at $629,201.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jerome T. Lienhard sold 8,750 shares of SunTrust Banks stock in a transaction on Monday, May 14th. The shares were sold at an average price of $69.06, for a total transaction of $604,275.00. Following the completion of the transaction, the executive vice president now owns 41,374 shares in the company, valued at $2,857,288.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,850 shares of company stock worth $961,044. 0.52% of the stock is currently owned by company insiders.
About SunTrust Banks
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through 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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