Investors Sell Shares of SunTrust Banks Inc. (STI) on Strength (STI)
Traders sold shares of SunTrust Banks Inc. (NYSE:STI) on strength during trading on Tuesday. $14.79 million flowed into the stock on the tick-up and $29.55 million flowed out of the stock on the tick-down, for a money net flow of $14.76 million out of the stock. Of all stocks tracked, SunTrust Banks had the 0th highest net out-flow for the day. SunTrust Banks traded up $0.01 for the day and closed at $42.11
Several research firms recently issued reports on STI. Sanford C. Bernstein cut SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 price target on the stock. in a report on Tuesday. They noted that the move was a valuation call. Robert W. Baird reiterated an “underperform” rating on shares of SunTrust Banks in a report on Thursday, August 4th. Compass Point raised their price target on SunTrust Banks from $45.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, July 26th. Goldman Sachs Group Inc. cut SunTrust Banks from a “conviction-buy” rating to a “buy” rating and raised their price target for the company from $44.00 to $46.00 in a report on Monday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $45.00 price target on shares of SunTrust Banks in a report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $44.05.
The company has a 50-day moving average of $42.01 and a 200 day moving average of $39.46. The firm has a market capitalization of $21.11 billion and a P/E ratio of 11.40.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. During the same quarter in the previous year, the company posted $0.89 EPS. The firm earned $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. The firm’s revenue was up 6.9% on a year-over-year basis. Analysts anticipate that SunTrust Banks Inc. will post $3.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a $0.26 dividend. This is a positive change from SunTrust Banks’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, August 29th. This represents a $1.04 annualized dividend and a yield of 2.47%.
In other SunTrust Banks news, insider Susan S. Johnson sold 1,118 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total value of $47,403.20. Following the transaction, the insider now owns 1,119 shares in the company, valued at $47,445.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Other hedge funds and institutional investors have recently made changes to their positions in the company. King Luther Capital Management Corp raised its position in shares of SunTrust Banks by 3.3% in the fourth quarter. King Luther Capital Management Corp now owns 1,577,085 shares of the financial services provider’s stock valued at $67,562,000 after buying an additional 49,973 shares during the last quarter. Argent Capital Management LLC raised its position in shares of SunTrust Banks by 2.1% in the fourth quarter. Argent Capital Management LLC now owns 1,011,855 shares of the financial services provider’s stock valued at $43,348,000 after buying an additional 20,610 shares during the last quarter. Redwood Investments LLC raised its position in shares of SunTrust Banks by 12.5% in the fourth quarter. Redwood Investments LLC now owns 313,948 shares of the financial services provider’s stock valued at $13,450,000 after buying an additional 34,824 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of SunTrust Banks by 4.9% in the fourth quarter. State of Tennessee Treasury Department now owns 299,014 shares of the financial services provider’s stock valued at $12,810,000 after buying an additional 14,047 shares during the last quarter. Finally, Airain ltd raised its position in shares of SunTrust Banks by 164.3% in the fourth quarter. Airain ltd now owns 92,232 shares of the financial services provider’s stock valued at $3,951,000 after buying an additional 57,329 shares during the last quarter.
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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