SunTrust Banks (NYSE:STI) COO Hugh S. Cummins III sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $69.00, for a total value of $759,000.00. Following the completion of the sale, the chief operating officer now directly owns 40,198 shares in the company, valued at $2,773,662. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NYSE:STI opened at $69.23 on Friday. 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 company has a market capitalization of $32.35 billion, a PE ratio of 17.14, a PEG ratio of 1.02 and a beta of 1.33. SunTrust Banks has a 1 year low of $51.96 and a 1 year high of $73.37.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.18. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The business’s revenue was up .4% on a year-over-year basis. research analysts anticipate that SunTrust Banks will post 5.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be given a dividend of $0.40 per share. 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 2.31%. SunTrust Banks’s payout ratio is 39.60%.
A number of institutional investors have recently made changes to their positions in the stock. Intercontinental Wealth Advisors LLC lifted its position in SunTrust Banks by 13.8% during the fourth quarter. Intercontinental Wealth Advisors LLC now owns 5,845 shares of the financial services provider’s stock worth $378,000 after buying an additional 707 shares in the last quarter. Bray Capital Advisors lifted its position in SunTrust Banks by 21.2% during the first quarter. Bray Capital Advisors now owns 4,491 shares of the financial services provider’s stock worth $306,000 after buying an additional 786 shares in the last quarter. LS Investment Advisors LLC lifted its position in SunTrust Banks by 3.6% during the first quarter. LS Investment Advisors LLC now owns 23,233 shares of the financial services provider’s stock worth $1,581,000 after buying an additional 803 shares in the last quarter. Advisor Group Inc. lifted its position in SunTrust Banks by 3.9% during the fourth quarter. Advisor Group Inc. now owns 21,547 shares of the financial services provider’s stock worth $1,393,000 after buying an additional 811 shares in the last quarter. Finally, Columbia Partners L L C Investment Management lifted its position in SunTrust Banks by 22.2% during the fourth quarter. Columbia Partners L L C Investment Management now owns 4,519 shares of the financial services provider’s stock worth $291,000 after buying an additional 821 shares in the last quarter. Hedge funds and other institutional investors own 83.68% of the company’s stock.
STI has been the topic of several research analyst reports. Stephens lowered 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. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $75.00 price objective on shares of SunTrust Banks in a report on Thursday, April 5th. Susquehanna Bancshares set a $75.00 price objective on SunTrust Banks and gave the company a “hold” rating in a report on Tuesday, April 10th. Zacks Investment Research lowered SunTrust Banks from a “buy” rating to a “hold” rating in a report on Monday, March 26th. Finally, Morgan Stanley raised their price objective on SunTrust Banks from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Eighteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. SunTrust Banks has an average rating of “Hold” and a consensus target price of $70.50.
SunTrust Banks Company Profile
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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