AMG National Trust Bank acquired a new stake in shares of SunTrust Banks, Inc. (NYSE:STI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,096 shares of the financial services provider’s stock, valued at approximately $213,000.
Several other institutional investors have also recently made changes to their positions in STI. Private Ocean LLC grew its position in shares of SunTrust Banks by 14.6% in the 3rd quarter. Private Ocean LLC now owns 1,146 shares of the financial services provider’s stock worth $79,000 after buying an additional 146 shares during the last quarter. Jaffetilchin Investment Partners LLC grew its position in shares of SunTrust Banks by 0.8% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 18,443 shares of the financial services provider’s stock worth $1,269,000 after buying an additional 151 shares during the last quarter. Clarius Group LLC grew its position in shares of SunTrust Banks by 3.8% in the 3rd quarter. Clarius Group LLC now owns 4,162 shares of the financial services provider’s stock worth $286,000 after buying an additional 151 shares during the last quarter. Berman Capital Advisors LLC grew its position in shares of SunTrust Banks by 26.4% in the 2nd quarter. Berman Capital Advisors LLC now owns 766 shares of the financial services provider’s stock worth $48,000 after buying an additional 160 shares during the last quarter. Finally, RKL Wealth Management LLC grew its position in shares of SunTrust Banks by 0.9% in the 2nd quarter. RKL Wealth Management LLC now owns 18,242 shares of the financial services provider’s stock worth $1,152,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.
NYSE:STI traded up $0.11 during trading hours on Wednesday, reaching $68.98. 1,654,400 shares of the company traded hands, compared to its average volume of 3,108,524. The business’s 50-day moving average price is $69.90 and its two-hundred day moving average price is $65.30. The stock has a market capitalization of $31.46 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.61 and a beta of 1.53. SunTrust Banks, Inc. has a 1 year low of $46.05 and a 1 year high of $71.75. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.83.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.40. SunTrust Banks had a return on equity of 11.40% and a net margin of 22.31%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that SunTrust Banks, Inc. will post 5.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, November 7th. SunTrust Banks’s dividend payout ratio is currently 39.30%.
In related news, insider Ellen Koebler sold 2,000 shares of SunTrust Banks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $70.11, for a total value of $140,220.00. Following the completion of the sale, the insider now owns 4,598 shares of the company’s stock, valued at $322,365.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Laura Allison Dukes sold 1,032 shares of SunTrust Banks stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $70.29, for a total value of $72,539.28. Following the completion of the sale, the chief financial officer now directly owns 43,943 shares of the company’s stock, valued at approximately $3,088,753.47. The disclosure for this sale can be found here. Insiders sold 43,032 shares of company stock valued at $3,014,559 in the last 90 days. Company insiders own 0.42% of the company’s stock.
A number of equities research analysts have recently weighed in on STI shares. UBS Group cut their price objective on SunTrust Banks from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Janney Montgomery Scott cut SunTrust Banks from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 27th. Morgan Stanley restated a “hold” rating and issued a $72.00 target price (up previously from $71.00) on shares of SunTrust Banks in a research note on Monday, November 18th. Finally, Jefferies Financial Group upgraded SunTrust Banks from a “hold” rating to a “buy” rating and raised their target price for the company from $67.00 to $75.00 in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. SunTrust Banks presently has a consensus rating of “Hold” and an average target price of $68.28.
About SunTrust Banks
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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