SunTrust Banks Inc. (STI) Shares Bought by Standard Life Investments LTD
Standard Life Investments LTD boosted its stake in SunTrust Banks Inc. (NYSE:STI) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,153,447 shares of the financial services provider’s stock after buying an additional 11,808 shares during the period. Standard Life Investments LTD owned 0.43% of SunTrust Banks worth $88,496,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Management Corp VA raised its position 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 valued at $329,000 after buying an additional 45 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA raised its position 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 period. Pitcairn Co. raised its position 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 period. Washington Trust Bank raised its position 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 period. Finally, BKD Wealth Advisors LLC raised its position 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 period. Institutional investors and hedge funds own 82.37% of the company’s stock.
Shares of SunTrust Banks Inc. (NYSE:STI) traded up 2.19% during midday trading on Tuesday, hitting $44.73. The stock had a trading volume of 4,735,254 shares. 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 one year low of $31.07 and a one year high of $45.24. The firm has a 50 day moving average of $43.43 and a 200-day moving average of $41.53.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. SunTrust Banks had a net margin of 22.31% and a return on equity of 8.53%. SunTrust Banks’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, analysts forecast that SunTrust Banks Inc. will post $3.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a dividend of $0.26 per share. This is a positive change from SunTrust Banks’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, August 29th. This represents a $1.04 annualized dividend and a yield of 2.33%. SunTrust Banks’s dividend payout ratio is 28.18%.
A number of research analysts recently issued reports on the company. Wells Fargo & Co. reiterated a “buy” rating on shares of SunTrust Banks in a report on Sunday, July 10th. Robert W. Baird reiterated an “underperform” rating on shares of SunTrust Banks in a report on Thursday, August 4th. BMO Capital Markets reiterated a “hold” rating and issued a $44.00 target price on shares of SunTrust Banks in a report on Thursday, July 7th. Barclays PLC reiterated an “equal weight” rating and issued a $46.00 target price on shares of SunTrust Banks in a report on Sunday, July 10th. Finally, Sanford C. Bernstein lowered SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 target price for the company. in a report on Tuesday, August 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $44.45.
In related news, insider Susan S. Johnson sold 1,118 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $42.40, for a total transaction of $47,403.20. Following the sale, the insider now owns 1,119 shares in the company, valued at $47,445.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.67% of the company’s stock.
About SunTrust Banks
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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