Marco Investment Management LLC decreased its holdings in SunTrust Banks, Inc. (NYSE:STI) by 10.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 41,035 shares of the financial services provider’s stock after selling 5,000 shares during the period. Marco Investment Management LLC’s holdings in SunTrust Banks were worth $2,650,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Valeo Financial Advisors LLC raised its holdings in SunTrust Banks by 107.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after buying an additional 843 shares during the period. Icon Wealth Partners LLC purchased a new position in SunTrust Banks in the fourth quarter valued at approximately $156,000. Avestar Capital LLC purchased a new position in SunTrust Banks in the fourth quarter valued at approximately $162,000. Quantitative Systematic Strategies LLC purchased a new position in SunTrust Banks in the fourth quarter valued at approximately $202,000. Finally, WealthTrust Axiom LLC purchased a new position in SunTrust Banks in the fourth quarter valued at approximately $202,000. Hedge funds and other institutional investors own 83.59% of the company’s stock.
In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 7,500 shares of SunTrust Banks stock in a transaction on Friday, February 16th. The shares were sold at an average price of $70.13, for a total value of $525,975.00. Following the completion of the transaction, the insider now owns 149,955 shares of the company’s stock, valued at $10,516,344.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Susan S. Johnson sold 3,600 shares of SunTrust Banks stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $71.04, for a total transaction of $255,744.00. Following the completion of the transaction, the insider now directly owns 8,857 shares of the company’s stock, valued at approximately $629,201.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,348 shares of company stock valued at $1,289,757. 0.52% of the stock is currently owned by corporate insiders.
STI has been the topic of several research reports. UBS upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and raised their price target for the company from $62.00 to $73.00 in a report on Tuesday, December 12th. Keefe, Bruyette & Woods upgraded shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 12th. Wedbush lowered shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $71.00 to $63.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Tuesday, December 26th. Finally, Barclays lifted their price objective on shares of SunTrust Banks from $68.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Sixteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $69.25.
SunTrust Banks, Inc. (NYSE STI) opened at $71.05 on Tuesday. The company has a market cap of $33,497.51, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.14 and a beta of 1.33. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43. SunTrust Banks, Inc. has a 1-year low of $51.96 and a 1-year high of $73.37.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 earnings per share. equities analysts forecast that SunTrust Banks, Inc. will post 5.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Tuesday, February 27th. SunTrust Banks’s dividend payout ratio is presently 35.71%.
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About SunTrust Banks
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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