SunTrust Banks, Inc. (STI) Shares Bought by Stephens Inc. AR
Stephens Inc. AR grew its stake in SunTrust Banks, Inc. (NYSE:STI) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,500 shares of the financial services provider’s stock after purchasing an additional 2,154 shares during the quarter. Stephens Inc. AR’s holdings in SunTrust Banks were worth $4,453,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of SunTrust Banks by 0.7% in the second quarter. Vanguard Group Inc. now owns 32,947,441 shares of the financial services provider’s stock valued at $1,868,780,000 after purchasing an additional 227,501 shares during the period. FMR LLC grew its position in shares of SunTrust Banks by 4.3% in the second quarter. FMR LLC now owns 29,614,981 shares of the financial services provider’s stock valued at $1,679,761,000 after purchasing an additional 1,219,272 shares during the period. Capital World Investors grew its position in shares of SunTrust Banks by 20.7% in the second quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock valued at $1,673,982,000 after purchasing an additional 5,056,000 shares during the period. American Century Companies Inc. grew its position in shares of SunTrust Banks by 31.4% in the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock valued at $435,947,000 after purchasing an additional 1,742,756 shares during the period. Finally, Boston Partners grew its position in shares of SunTrust Banks by 6.8% in the third quarter. Boston Partners now owns 6,812,235 shares of the financial services provider’s stock valued at $407,167,000 after purchasing an additional 433,042 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.
In related news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.55% of the company’s stock.
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SunTrust Banks, Inc. (NYSE:STI) traded up $0.05 during trading on Monday, hitting $57.77. 2,471,600 shares of the stock were exchanged, compared to its average volume of 3,363,005. The stock has a market cap of $27,500.00, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29. SunTrust Banks, Inc. has a twelve month low of $51.06 and a twelve month high of $61.69. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.50.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. equities research analysts forecast that SunTrust Banks, Inc. will post 4.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Wednesday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is currently 41.03%.
A number of equities analysts recently weighed in on the stock. Credit Suisse Group upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $56.00 to $60.00 in a research report on Monday, October 9th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of SunTrust Banks in a research report on Sunday, July 23rd. Barclays PLC boosted their price target on shares of SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Raymond James Financial, Inc. lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Monday, October 23rd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $60.00 price target on shares of SunTrust Banks in a research report on Thursday, July 27th. Eighteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $63.18.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.
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