Deprince Race & Zollo Inc. Reduces Stake in SunTrust Banks Inc. (STI)
Deprince Race & Zollo Inc. cut its position in SunTrust Banks Inc. (NYSE:STI) by 8.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 700,741 shares of the financial services provider’s stock after selling 63,156 shares during the period. Deprince Race & Zollo Inc. owned 0.14% of SunTrust Banks worth $28,786,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of STI. Capital Management Corp VA boosted its stake in SunTrust Banks by 0.6% in the second quarter. Capital Management Corp VA now owns 8,013 shares of the financial services provider’s stock worth $329,000 after buying an additional 45 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA boosted its stake in SunTrust Banks by 0.6% in the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 10,925 shares of the financial services provider’s stock worth $456,000 after buying an additional 64 shares during the last quarter. Pitcairn Co. boosted its stake in SunTrust Banks by 0.7% in the second quarter. Pitcairn Co. now owns 9,813 shares of the financial services provider’s stock worth $403,000 after buying an additional 72 shares during the last quarter. Washington Trust Bank boosted its stake in SunTrust Banks by 2.1% in the second quarter. Washington Trust Bank now owns 4,420 shares of the financial services provider’s stock worth $182,000 after buying an additional 90 shares during the last quarter. Finally, BKD Wealth Advisors LLC boosted its stake in SunTrust Banks by 5.9% in the second quarter. BKD Wealth Advisors LLC now owns 6,991 shares of the financial services provider’s stock worth $287,000 after buying an additional 392 shares during the last quarter. Institutional investors and hedge funds own 82.37% of the company’s stock.
SunTrust Banks Inc. (NYSE:STI) traded up 2.19% during trading on Tuesday, reaching $44.73. 4,735,254 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $43.50 and its 200-day moving average is $41.59. The company has a market cap of $22.43 billion, a P/E ratio of 12.11 and a beta of 1.31. SunTrust Banks Inc. has a 12-month low of $31.07 and a 12-month high of $45.24.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts predict that SunTrust Banks Inc. will post $3.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Monday, August 29th. This is a positive change from SunTrust Banks’s previous quarterly dividend of $0.24. SunTrust Banks’s dividend payout ratio is currently 28.18%.
A number of equities research analysts have commented on the stock. Nomura restated a “hold” rating on shares of SunTrust Banks in a report on Saturday, July 9th. Robert W. Baird cut shares of SunTrust Banks from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $43.00 to $41.00 in a report on Friday, July 15th. Compass Point raised their price target on shares of SunTrust Banks from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, July 26th. Portales Partners upgraded shares of SunTrust Banks from a “sector perform” rating to an “outperform” rating in a report on Tuesday, June 28th. Finally, Sanford C. Bernstein cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 price objective for the company. in a report on Tuesday, August 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $44.45.
In other SunTrust Banks news, insider Susan S. Johnson sold 1,118 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total value of $47,403.20. Following the sale, the insider now owns 1,119 shares in the company, valued at approximately $47,445.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.67% of the stock is owned by company insiders.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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