Trustcore Financial Services LLC purchased a new stake in shares of SunTrust Banks, Inc. (NYSE:STI) during the first quarter, HoldingsChannel.com reports. The firm purchased 6,518 shares of the financial services provider’s stock, valued at approximately $386,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STI. Liberty Wealth Management LLC bought a new stake in shares of SunTrust Banks in the fourth quarter worth about $26,000. CNB Bank grew its stake in shares of SunTrust Banks by 790.0% in the first quarter. CNB Bank now owns 445 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 395 shares during the last quarter. Sontag Advisory LLC bought a new stake in shares of SunTrust Banks in the fourth quarter worth about $27,000. Resources Investment Advisors Inc. grew its stake in shares of SunTrust Banks by 465.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 565 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 465 shares during the last quarter. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of SunTrust Banks in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 79.28% of the company’s stock.

STI traded up $0.98 on Thursday, hitting $62.40. The company had a trading volume of 25,590 shares, compared to its average volume of 4,098,229. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.95. SunTrust Banks, Inc. has a 52-week low of $46.05 and a 52-week high of $75.08. The firm has a market capitalization of $27.11 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.35 and a beta of 1.56.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.04. SunTrust Banks had a net margin of 25.26% and a return on equity of 12.22%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the business posted $1.29 earnings per share. SunTrust Banks’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts expect that SunTrust Banks, Inc. will post 5.78 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.00 annualized dividend and a yield of 3.21%. SunTrust Banks’s dividend payout ratio (DPR) is presently 35.09%.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 41,882 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $63.10, for a total value of $2,642,754.20. Following the completion of the sale, the insider now directly owns 228,130 shares in the company, valued at $14,395,003. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jorge Arrieta sold 4,000 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $66.25, for a total transaction of $265,000.00. Following the completion of the sale, the executive vice president now owns 8,662 shares of the company’s stock, valued at $573,857.50. The disclosure for this sale can be found here. Insiders sold 62,488 shares of company stock valued at $3,980,771 over the last 90 days. 0.42% of the stock is currently owned by company insiders.

Several research firms recently issued reports on STI. Zacks Investment Research cut SunTrust Banks from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Morgan Stanley cut their target price on SunTrust Banks from $73.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Macquarie raised SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 target price on the stock in a research note on Friday, February 8th. ValuEngine raised SunTrust Banks from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, UBS Group cut SunTrust Banks from a “buy” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $71.00 in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. SunTrust Banks has an average rating of “Hold” and a consensus target price of $70.65.

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SunTrust Banks Profile

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.

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Want to see what other hedge funds are holding STI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunTrust Banks, Inc. (NYSE:STI).

Institutional Ownership by Quarter for SunTrust Banks (NYSE:STI)

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