Thomas E. Panther Sells 1,200 Shares of SunTrust Banks Inc. (STI) Stock
SunTrust Banks Inc. (NYSE:STI) SVP Thomas E. Panther sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $51.69, for a total transaction of $62,028.00. Following the sale, the senior vice president now owns 19,122 shares of the company’s stock, valued at $988,416.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
SunTrust Banks Inc. (NYSE:STI) opened at 51.78 on Monday. The firm has a market cap of $25.68 billion, a P/E ratio of 14.34 and a beta of 1.36. The firm’s 50-day moving average price is $46.41 and its 200 day moving average price is $43.44. SunTrust Banks Inc. has a one year low of $31.07 and a one year high of $52.65.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, October 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. SunTrust Banks had a return on equity of 8.18% and a net margin of 21.12%. The business earned $2.20 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the firm earned $1.00 EPS. SunTrust Banks’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that SunTrust Banks Inc. will post $3.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.01%. SunTrust Banks’s dividend payout ratio is presently 28.89%.
Several institutional investors have recently modified their holdings of the stock. Global X Management Co. LLC raised its position in shares of SunTrust Banks by 121.2% in the third quarter. Global X Management Co. LLC now owns 2,787 shares of the financial services provider’s stock valued at $122,000 after buying an additional 1,527 shares in the last quarter. TLP Group LLC acquired a new position in shares of SunTrust Banks during the third quarter valued at about $128,000. MSI Financial Services Inc raised its position in shares of SunTrust Banks by 66.2% in the third quarter. MSI Financial Services Inc now owns 3,010 shares of the financial services provider’s stock valued at $132,000 after buying an additional 1,199 shares in the last quarter. AXA acquired a new position in shares of SunTrust Banks during the second quarter valued at about $127,000. Finally, Amica Retiree Medical Trust acquired a new position in shares of SunTrust Banks during the second quarter valued at about $129,000. Institutional investors and hedge funds own 83.93% of the company’s stock.
STI has been the subject of several analyst reports. Goldman Sachs Group Inc. downgraded shares of SunTrust Banks from a “conviction-buy” rating to a “buy” rating and upped their target price for the company from $44.00 to $46.00 in a research note on Monday, July 25th. Sanford C. Bernstein downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 target price for the company. in a research note on Tuesday, August 16th. They noted that the move was a valuation call. Wedbush initiated coverage on shares of SunTrust Banks in a research note on Thursday, October 6th. They issued a “neutral” rating and a $47.00 target price for the company. Zacks Investment Research downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Finally, Robert W. Baird restated an “underperform” rating on shares of SunTrust Banks in a research note on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. SunTrust Banks has a consensus rating of “Hold” and a consensus price target of $45.87.
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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