SunTrust Banks, Inc. (STI) Shares Bought by Asset Management One Co. Ltd.
Asset Management One Co. Ltd. raised its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 831,655 shares of the financial services provider’s stock after purchasing an additional 15,431 shares during the period. Asset Management One Co. Ltd. owned 0.17% of SunTrust Banks worth $49,667,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Fiduciary Trust Co. purchased a new stake in SunTrust Banks during the second quarter worth approximately $118,000. Advisory Services Network LLC grew its stake in SunTrust Banks by 0.9% during the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after buying an additional 20 shares during the period. Westwood Holdings Group Inc. purchased a new stake in SunTrust Banks during the second quarter worth approximately $136,000. Dupont Capital Management Corp grew its stake in SunTrust Banks by 55.2% during the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after buying an additional 933 shares during the period. Finally, Blue Granite Capital LLC purchased a new stake in SunTrust Banks during the third quarter worth approximately $177,000. 80.82% of the stock is owned by hedge funds and other institutional investors.
In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.
SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. The business had revenue of $2.31 billion during 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 quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. research analysts forecast that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. SunTrust Banks’s dividend payout ratio (DPR) is presently 41.03%.
Several research firms have issued reports on STI. UBS reiterated a “neutral” rating and set a $62.00 price objective (up from $61.00) on shares of SunTrust Banks in a research note on Friday, October 6th. Citigroup downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of SunTrust Banks in a research note on Monday, October 23rd. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, October 10th. Finally, FBR & Co reiterated a “hold” rating and set a $62.00 price objective on shares of SunTrust Banks in a research note on Friday, October 20th. Seventeen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. SunTrust Banks currently has a consensus rating of “Hold” and a consensus target price of $63.97.
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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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