Dalton Greiner Hartman Maher & Co. Sells 61,087 Shares of SunTrust Banks Inc. (STI)
Dalton Greiner Hartman Maher & Co. lowered its stake in SunTrust Banks Inc. (NYSE:STI) by 19.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 261,107 shares of the financial services provider’s stock after selling 61,087 shares during the period. Dalton Greiner Hartman Maher & Co. owned 0.05% of SunTrust Banks worth $11,436,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning boosted its position in shares of SunTrust Banks by 1.4% in the second quarter. Creative Planning now owns 41,170 shares of the financial services provider’s stock valued at $1,691,000 after buying an additional 571 shares during the period. BKD Wealth Advisors LLC boosted its position in shares of 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 valued at $287,000 after buying an additional 392 shares during the period. Central Bank & Trust Co. boosted its position in shares of SunTrust Banks by 82.7% in the second quarter. Central Bank & Trust Co. now owns 87,114 shares of the financial services provider’s stock valued at $3,578,000 after buying an additional 39,429 shares during the period. Capital Insight Partners LLC boosted its position in shares of SunTrust Banks by 2.0% in the second quarter. Capital Insight Partners LLC now owns 57,928 shares of the financial services provider’s stock valued at $2,380,000 after buying an additional 1,111 shares during the period. Finally, American National Bank acquired a new position in shares of SunTrust Banks during the second quarter valued at about $694,000. 81.23% of the stock is owned by hedge funds and other institutional investors.
Shares of SunTrust Banks Inc. (NYSE:STI) traded down 1.21% during midday trading on Monday, hitting $51.57. 4,681,270 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $47.46 and its 200-day moving average is $43.85. SunTrust Banks Inc. has a 1-year low of $31.07 and a 1-year high of $52.65. The stock has a market cap of $25.57 billion, a PE ratio of 14.29 and a beta of 1.36.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, October 21st. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business earned $2.20 billion during the quarter, compared to the consensus estimate of $2.15 billion. SunTrust Banks had a net margin of 21.12% and a return on equity of 8.18%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 earnings per share. Analysts predict that SunTrust Banks Inc. will post $3.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, November 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.99%. SunTrust Banks’s dividend payout ratio (DPR) is presently 28.89%.
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Several brokerages recently issued reports on STI. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Wednesday, November 16th. Standpoint Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 15th. Compass Point cut shares of SunTrust Banks from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $48.00 to $54.00 in a report on Wednesday, November 23rd. They noted that the move was a valuation call. Robert W. Baird reaffirmed an “underperform” rating on shares of SunTrust Banks in a report on Saturday, November 19th. Finally, Wells Fargo & Co. cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Friday, November 18th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $46.13.
In related news, insider Anil T. Cheriyan sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $52.15, for a total value of $417,200.00. Following the sale, the insider now directly owns 81,203 shares of the company’s stock, valued at $4,234,736.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aleem Gillani sold 8,583 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $45.90, for a total transaction of $393,959.70. Following the completion of the sale, the insider now directly owns 239,652 shares in the company, valued at $11,000,026.80. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.
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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