Kiwi Wealth Investments Limited Partnership lowered its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189,720 shares of the financial services provider’s stock after selling 5,301 shares during the quarter. SunTrust Banks accounts for approximately 1.3% of Kiwi Wealth Investments Limited Partnership’s investment portfolio, making the stock its 22nd largest position. Kiwi Wealth Investments Limited Partnership’s holdings in SunTrust Banks were worth $12,909,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Valeo Financial Advisors LLC boosted its stake in SunTrust Banks by 107.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after buying an additional 843 shares in the last quarter. First Personal Financial Services lifted its holdings in shares of SunTrust Banks by 114.3% during the first quarter. First Personal Financial Services now owns 1,963 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,047 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of SunTrust Banks during the fourth quarter valued at $156,000. Avestar Capital LLC purchased a new stake in shares of SunTrust Banks during the fourth quarter valued at $162,000. Finally, Adviser Investments LLC purchased a new stake in shares of SunTrust Banks during the first quarter valued at $201,000. 83.68% of the stock is owned by institutional investors and hedge funds.
In other news, Director Steven C. Voorhees purchased 6,000 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was bought at an average cost of $65.96 per share, with a total value of $395,760.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $659,600. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Hugh S. Cummins III sold 11,000 shares of the firm’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $69.00, for a total value of $759,000.00. Following the sale, the chief operating officer now directly owns 40,198 shares of the company’s stock, valued at $2,773,662. The disclosure for this sale can be found here. Insiders have sold a total of 21,250 shares of company stock valued at $1,464,300 over the last ninety days. Company insiders own 0.52% of the company’s stock.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, April 20th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.18. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.29 billion. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. research analysts forecast that SunTrust Banks, Inc. will post 5.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, May 30th. SunTrust Banks’s dividend payout ratio (DPR) is presently 39.60%.
Several equities research analysts have recently commented on STI shares. Stephens downgraded 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 reaffirmed a “buy” rating and set a $75.00 target price on shares of SunTrust Banks in a report on Thursday, April 5th. Susquehanna Bancshares set a $75.00 target price on SunTrust Banks and gave the company a “hold” rating in a report on Tuesday, April 10th. Zacks Investment Research downgraded SunTrust Banks from a “buy” rating to a “hold” rating in a report on Monday, March 26th. Finally, Credit Suisse Group upped their target price on SunTrust Banks from $73.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, April 23rd. Eighteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. SunTrust Banks presently has a consensus rating of “Hold” and an average 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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