W.G. Shaheen & Associates DBA Whitney & Co Sells 355 Shares of SunTrust Banks, Inc. (STI)
W.G. Shaheen & Associates DBA Whitney & Co decreased its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 0.7% during the first quarter, Holdings Channel reports. The firm owned 49,890 shares of the financial services provider’s stock after selling 355 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in SunTrust Banks were worth $2,759,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. boosted its position in SunTrust Banks by 3.1% in the first quarter. Whittier Trust Co. now owns 1,909 shares of the financial services provider’s stock worth $105,000 after buying an additional 58 shares during the period. Independent Advisor Alliance purchased a new position in SunTrust Banks during the fourth quarter worth $105,000. Advisory Services Network LLC purchased a new position in SunTrust Banks during the first quarter worth $117,000. Bronfman E.L. Rothschild L.P. boosted its position in SunTrust Banks by 9.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,269 shares of the financial services provider’s stock worth $125,000 after buying an additional 192 shares during the period. Finally, Ancora Advisors LLC purchased a new position in SunTrust Banks during the fourth quarter worth $138,000. Institutional investors own 82.41% of the company’s stock.
Shares of SunTrust Banks, Inc. (STI) traded down 0.82% during trading on Tuesday, reaching $55.86. 505,474 shares of the company traded hands. The stock has a market capitalization of $27.13 billion, a PE ratio of 15.22 and a beta of 1.34. SunTrust Banks, Inc. has a 52 week low of $37.71 and a 52 week high of $61.69. The firm has a 50 day moving average of $55.68 and a 200 day moving average of $56.26.
SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, April 21st. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. SunTrust Banks had a net margin of 20.32% and a return on equity of 8.14%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. SunTrust Banks’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts predict that SunTrust Banks, Inc. will post $3.97 EPS for the current year.
The company 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. This represents a $1.04 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Friday, May 26th. SunTrust Banks’s dividend payout ratio (DPR) is presently 28.42%.
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A number of research firms recently weighed in on STI. BidaskClub upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. FBR & Co set a $65.00 target price on shares of SunTrust Banks and gave the company a “buy” rating in a research note on Monday, April 24th. Royal Bank Of Canada restated a “buy” rating and set a $60.00 target price on shares of SunTrust Banks in a research note on Thursday, May 18th. Robert W. Baird upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $52.00 price target on the stock in a research note on Monday, June 5th. Finally, Keefe, Bruyette & Woods set a $58.00 price target on shares of SunTrust Banks and gave the stock a “hold” rating in a research note on Monday, June 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company. The company has an average 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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