SunTrust Banks, Inc. (NYSE:STI) declared a quarterly dividend on Tuesday, August 13th, RTT News reports. Shareholders of record on Friday, August 30th will be given a dividend of 0.56 per share by the financial services provider on Monday, September 16th. This represents a $2.24 dividend on an annualized basis and a yield of 3.68%. This is a positive change from SunTrust Banks’s previous quarterly dividend of $0.50.

SunTrust Banks has raised its dividend payment by an average of 25.1% annually over the last three years and has increased its dividend every year for the last 6 years. SunTrust Banks has a dividend payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SunTrust Banks to earn $5.53 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 40.5%.

NYSE:STI opened at $60.79 on Wednesday. SunTrust Banks has a 1 year low of $46.05 and a 1 year high of $75.08. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $27.12 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.28 and a beta of 1.48. The firm has a 50-day simple moving average of $63.70.

SunTrust Banks (NYSE:STI) last posted its earnings results on Thursday, July 18th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. SunTrust Banks had a return on equity of 11.86% and a net margin of 23.92%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the previous year, the firm earned $1.49 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. As a group, equities analysts expect that SunTrust Banks will post 5.6 earnings per share for the current year.

A number of research firms have issued reports on STI. Argus set a $81.00 target price on SunTrust Banks and gave the company a “buy” rating in a research note on Friday, July 19th. Morgan Stanley reduced their price objective on SunTrust Banks from $73.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Finally, ValuEngine raised SunTrust Banks from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. SunTrust Banks presently has an average rating of “Hold” and a consensus price target of $69.45.

In other news, Vice Chairman Mark A. Chancy sold 20,973 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $65.21, for a total transaction of $1,367,649.33. Following the completion of the transaction, the insider now directly owns 246,630 shares of the company’s stock, valued at $16,082,742.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Ryan Richards sold 1,844 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $62.58, for a total value of $115,397.52. Following the transaction, the insider now directly owns 2,083 shares of the company’s stock, valued at $130,354.14. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

SunTrust Banks Company 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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Dividend History for SunTrust Banks (NYSE:STI)

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