Stephens Inc. AR reduced its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 5.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,170 shares of the financial services provider’s stock after selling 4,589 shares during the period. Stephens Inc. AR’s holdings in SunTrust Banks were worth $4,046,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of STI. FMR LLC boosted its position in shares of SunTrust Banks by 1.6% in the first quarter. FMR LLC now owns 28,395,709 shares of the financial services provider’s stock worth $1,570,283,000 after buying an additional 459,526 shares during the period. AQR Capital Management LLC boosted its position in shares of SunTrust Banks by 47.3% in the fourth quarter. AQR Capital Management LLC now owns 8,063,984 shares of the financial services provider’s stock worth $442,309,000 after buying an additional 2,588,353 shares during the period. Boston Partners boosted its position in shares of SunTrust Banks by 3.4% in the first quarter. Boston Partners now owns 6,568,836 shares of the financial services provider’s stock worth $363,257,000 after buying an additional 217,430 shares during the period. Bank of New York Mellon Corp boosted its position in shares of SunTrust Banks by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 6,232,300 shares of the financial services provider’s stock worth $344,646,000 after buying an additional 125,395 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of SunTrust Banks by 7.4% in the first quarter. Victory Capital Management Inc. now owns 5,443,729 shares of the financial services provider’s stock worth $301,038,000 after buying an additional 374,349 shares during the period. 82.41% of the stock is owned by institutional investors.
Shares of SunTrust Banks, Inc. (STI) traded down 0.78% during trading on Tuesday, hitting $55.88. 507,737 shares of the company’s stock were exchanged. The firm has a market capitalization of $27.14 billion, a PE ratio of 15.22 and a beta of 1.34. The stock’s 50 day moving average is $55.68 and its 200 day moving average is $56.26. SunTrust Banks, Inc. has a 1-year low of $37.71 and a 1-year high of $61.69.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.07. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.21 billion. SunTrust Banks had a net margin of 20.32% and a return on equity of 8.14%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS. On average, equities research analysts forecast that SunTrust Banks, Inc. will post $3.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $1.04 annualized dividend and a yield of 1.85%. SunTrust Banks’s dividend payout ratio is presently 28.42%.
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STI has been the subject of a number of recent research reports. Wedbush raised shares of SunTrust Banks from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $63.00 in a research note on Monday, May 1st. Robert W. Baird raised shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $52.00 price objective for the company in a research note on Monday, June 5th. BidaskClub raised shares of SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 price objective on shares of SunTrust Banks in a research note on Friday, May 5th. Finally, Zacks Investment Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company. SunTrust Banks presently has a consensus rating of “Hold” and a consensus price target of $56.42.
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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