Archford Capital Strategies LLC purchased a new stake in shares of SunTrust Banks, Inc. (NYSE:STI) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 8,893 shares of the financial services provider’s stock, valued at approximately $574,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STI. Valeo Financial Advisors LLC lifted its position in shares of SunTrust Banks by 107.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 843 shares in the last quarter. Tiedemann Wealth Management LLC lifted its position in shares of SunTrust Banks by 12.1% during the third quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 2,920 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of SunTrust Banks during the fourth quarter valued at about $156,000. Avestar Capital LLC bought a new position in shares of SunTrust Banks during the fourth quarter valued at about $162,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of SunTrust Banks during the third quarter valued at about $191,000. 83.59% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on STI shares. UBS raised 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 research report on Tuesday, December 12th. Keefe, Bruyette & Woods raised shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 12th. Wedbush lowered shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $71.00 to $63.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Tuesday, December 26th. Finally, Barclays raised their price objective on shares of SunTrust Banks from $68.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Sixteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $69.25.
In other news, insider Susan S. Johnson sold 3,600 shares of SunTrust Banks stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.04, for a total value of $255,744.00. Following the completion of the transaction, the insider now owns 8,857 shares in the company, valued at $629,201.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Mark A. Chancy sold 7,500 shares of SunTrust Banks stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $70.13, for a total transaction of $525,975.00. Following the completion of the transaction, the insider now owns 149,955 shares of the company’s stock, valued at approximately $10,516,344.15. The disclosure for this sale can be found here. Insiders sold 40,348 shares of company stock valued at $1,289,757 in the last quarter. Corporate insiders own 0.52% of the company’s stock.
STI stock opened at $70.67 on Wednesday. The firm has a market cap of $33,497.51, a PE ratio of 15.77, a PEG ratio of 1.14 and a beta of 1.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.92. SunTrust Banks, Inc. has a 12 month low of $51.96 and a 12 month high of $73.37.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. equities research analysts expect that SunTrust Banks, Inc. will post 5.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were paid a $0.40 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. SunTrust Banks’s payout ratio is 35.71%.
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SunTrust Banks 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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