SunTrust Banks, Inc. (STI) Shares Sold by Strategic Global Advisors LLC
Strategic Global Advisors LLC cut its position in SunTrust Banks, Inc. (NYSE:STI) by 7.4% during the first quarter, Holdings Channel reports. The institutional investor owned 28,716 shares of the financial services provider’s stock after selling 2,311 shares during the period. Strategic Global Advisors LLC’s holdings in SunTrust Banks were worth $1,588,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Shelton Capital Management acquired a new position in SunTrust Banks during the fourth quarter worth approximately $209,000. Lyell Wealth Management LP acquired a new position in SunTrust Banks during the fourth quarter worth approximately $1,532,000. First Allied Advisory Services Inc. acquired a new position in SunTrust Banks during the fourth quarter worth approximately $608,000. Pacad Investment Ltd. acquired a new position in SunTrust Banks during the fourth quarter worth approximately $1,053,000. Finally, Monetary Management Group Inc. boosted its position in SunTrust Banks by 2.5% in the fourth quarter. Monetary Management Group Inc. now owns 53,525 shares of the financial services provider’s stock worth $2,936,000 after buying an additional 1,325 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.
Shares of SunTrust Banks, Inc. (NYSE:STI) traded down 0.76% during trading on Tuesday, reaching $55.89. The company’s stock had a trading volume of 508,039 shares. The stock has a 50 day moving average of $55.68 and a 200-day moving average of $56.26. SunTrust Banks, Inc. has a 1-year low of $37.71 and a 1-year high of $61.69. The company has a market capitalization of $27.15 billion, a PE ratio of 15.22 and a beta of 1.34.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, April 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.21 billion. SunTrust Banks had a return on equity of 8.14% and a net margin of 20.32%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. On average, analysts expect that SunTrust Banks, Inc. will post $3.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were paid a dividend of $0.26 per share. The ex-dividend date was Friday, May 26th. This represents a $1.04 annualized dividend and a yield of 1.85%. SunTrust Banks’s dividend payout ratio (DPR) is 28.42%.
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A number of research analysts recently commented on the company. Evercore ISI cut SunTrust Banks to a “buy” rating in a report on Friday, March 3rd. Stephens raised SunTrust Banks from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, March 1st. Zacks Investment Research downgraded SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price objective on shares of SunTrust Banks in a research note on Friday, May 5th. Finally, Wedbush raised SunTrust Banks from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $63.00 in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company. SunTrust Banks has a consensus rating of “Hold” and a consensus target price of $56.42.
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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