FSI Group LLC acquired a new stake in shares of SunTrust Banks, Inc. (NYSE:STI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 93,000 shares of the financial services provider’s stock, valued at approximately $5,143,000. SunTrust Banks makes up approximately 2.6% of FSI Group LLC’s holdings, making the stock its 9th largest position.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STI. Whittier Trust Co. increased its position in SunTrust Banks by 3.1% in the first quarter. Whittier Trust Co. now owns 1,909 shares of the financial services provider’s stock valued at $105,000 after buying an additional 58 shares in the last quarter. Independent Advisor Alliance purchased a new position in SunTrust Banks during the fourth quarter valued at about $105,000. Advisory Services Network LLC purchased a new position in SunTrust Banks during the first quarter valued at about $117,000. Ancora Advisors LLC purchased a new position in SunTrust Banks during the fourth quarter valued at about $138,000. Finally, SRB Corp increased its position in SunTrust Banks by 9.9% in the third quarter. SRB Corp now owns 3,673 shares of the financial services provider’s stock valued at $161,000 after buying an additional 332 shares in the last quarter. 82.17% of the stock is owned by institutional investors.
Shares of SunTrust Banks, Inc. (NYSE:STI) traded up 0.35% during midday trading on Friday, reaching $54.26. The company had a trading volume of 1,936,213 shares. The stock has a market capitalization of $26.35 billion, a PE ratio of 14.78 and a beta of 1.33. SunTrust Banks, Inc. has a 1-year low of $37.71 and a 1-year high of $61.69. The company’s 50-day moving average is $56.01 and its 200-day moving average is $55.36.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. SunTrust Banks had a return on equity of 8.08% and a net margin of 20.50%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. SunTrust Banks’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that SunTrust Banks, Inc. will post $3.97 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, May 26th. SunTrust Banks’s payout ratio is 28.97%.
Several research firms have recently issued reports on STI. Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of SunTrust Banks in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price objective on shares of SunTrust Banks in a research note on Monday. FBR & Co set a $65.00 target price on shares of SunTrust Banks and gave the company a “buy” rating in a research report on Monday, April 24th. Bank of America Corp reissued a “hold” rating on shares of SunTrust Banks in a research report on Monday, April 24th. Finally, Evercore ISI downgraded shares of SunTrust Banks to a “buy” rating in a research report on Friday, March 3rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company. SunTrust Banks currently has a consensus rating of “Hold” and a consensus price target of $55.24.
In other SunTrust Banks news, EVP Thomas E. Freeman sold 22,584 shares of the company’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $59.25, for a total value of $1,338,102.00. Following the completion of the sale, the executive vice president now owns 148,273 shares in the company, valued at $8,785,175.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Susan S. Johnson sold 757 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $59.83, for a total value of $45,291.31. Following the completion of the sale, the insider now owns 2,706 shares of the company’s stock, valued at approximately $161,899.98. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.
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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