Court Place Advisors LLC Has $375,000 Position in SunTrust Banks Inc. (STI)
Court Place Advisors LLC maintained its stake in SunTrust Banks Inc. (NYSE:STI) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,132 shares of the financial services provider’s stock at the end of the second quarter. Court Place Advisors LLC’s holdings in SunTrust Banks were worth $375,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. increased its position in SunTrust Banks by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 13,808,075 shares of the financial services provider’s stock worth $498,195,000 after buying an additional 329,018 shares during the last quarter. BlackRock Group LTD increased its position in SunTrust Banks by 3.5% in the first quarter. BlackRock Group LTD now owns 4,909,411 shares of the financial services provider’s stock worth $177,132,000 after buying an additional 163,982 shares during the last quarter. Geode Capital Management LLC increased its position in SunTrust Banks by 3.1% in the first quarter. Geode Capital Management LLC now owns 4,457,922 shares of the financial services provider’s stock worth $160,542,000 after buying an additional 132,399 shares during the last quarter. Norges Bank bought a new position in SunTrust Banks during the fourth quarter worth about $134,002,000. Finally, Investec Asset Management LTD bought a new position in SunTrust Banks during the first quarter worth about $86,734,000. 82.54% of the stock is currently owned by institutional investors.
SunTrust Banks Inc. (NYSE:STI) traded down 0.18% during trading on Tuesday, hitting $43.78. 2,073,327 shares of the stock were exchanged. SunTrust Banks Inc. has a 1-year low of $31.07 and a 1-year high of $45.24. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 11.85 and a beta of 1.31. The company has a 50-day moving average price of $43.04 and a 200 day moving average price of $41.05.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. The business earned $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.89 earnings per share. Equities analysts predict that SunTrust Banks Inc. will post $3.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.38%. The ex-dividend date was Monday, August 29th. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.24. SunTrust Banks’s dividend payout ratio (DPR) is currently 28.18%.
STI has been the topic of a number of research reports. Wells Fargo & Co. reiterated a “buy” rating on shares of SunTrust Banks in a research report on Sunday, July 10th. Barclays PLC reiterated an “equal weight” rating and set a $46.00 target price on shares of SunTrust Banks in a research report on Sunday, July 10th. Deutsche Bank AG reiterated a “buy” rating on shares of SunTrust Banks in a research report on Wednesday, June 15th. Robert W. Baird reiterated an “underperform” rating on shares of SunTrust Banks in a research report on Thursday, August 4th. Finally, Goldman Sachs Group Inc. downgraded shares of SunTrust Banks from a “conviction-buy” rating to a “buy” rating and boosted their target price for the company from $44.00 to $46.00 in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $44.00.
In other SunTrust Banks news, insider Susan S. Johnson sold 1,118 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total value of $47,403.20. Following the completion of the sale, the insider now owns 1,119 shares of the company’s stock, valued at $47,445.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.67% of the stock is owned by company insiders.
About SunTrust Banks
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.
Want to see what other hedge funds are holding STI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunTrust Banks Inc. (NYSE:STI).
Receive News & Ratings for SunTrust Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.