SunTrust Banks, Inc. (STI) Stake Maintained by Sandy Spring Bank
Sandy Spring Bank held its position in SunTrust Banks, Inc. (NYSE:STI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,107 shares of the financial services provider’s stock at the end of the 2nd quarter. Sandy Spring Bank’s holdings in SunTrust Banks were worth $6,019,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guardian Life Insurance Co. of America raised its position in shares of SunTrust Banks by 1.0% during the first quarter. Guardian Life Insurance Co. of America now owns 1,893 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 18 shares during the period. Fiduciary Trust Co. acquired a new stake in shares of SunTrust Banks during the second quarter worth about $118,000. Bronfman E.L. Rothschild L.P. raised its position in shares of SunTrust Banks by 9.2% during 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 purchasing an additional 192 shares during the period. Independent Portfolio Consultants Inc. raised its position in shares of SunTrust Banks by 184.7% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,648 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 1,718 shares during the period. Finally, Huntington National Bank raised its position in shares of SunTrust Banks by 2.9% during the second quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 80 shares during the period. 81.19% of the stock is currently owned by institutional investors.
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In other news, insider Susan S. Johnson sold 808 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $57.34, for a total value of $46,330.72. Following the completion of the transaction, the insider now directly owns 3,515 shares of the company’s stock, valued at $201,550.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company’s stock.
Shares of SunTrust Banks, Inc. (NYSE:STI) traded up 0.16% on Friday, hitting $54.83. The stock had a trading volume of 4,310,375 shares. The company has a market capitalization of $26.41 billion, a price-to-earnings ratio of 14.58 and a beta of 1.33. SunTrust Banks, Inc. has a 52 week low of $42.36 and a 52 week high of $61.69. The company has a 50-day moving average of $55.99 and a 200 day moving average of $56.18.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, July 21st. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.29 billion. SunTrust Banks had a return on equity of 8.48% and a net margin of 20.51%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 earnings per share. On average, equities research analysts predict that SunTrust Banks, Inc. will post $4.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.40 dividend. The ex-dividend date was Tuesday, August 29th. This is a positive change from SunTrust Banks’s previous quarterly dividend of $0.26. This represents a $1.60 annualized dividend and a dividend yield of 2.92%. SunTrust Banks’s dividend payout ratio is currently 42.67%.
SunTrust Banks declared that its board has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $1.32 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have recently commented on STI shares. Robert W. Baird raised SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $52.00 price target on the stock in a research report on Monday, June 5th. Keefe, Bruyette & Woods set a $58.00 price objective on SunTrust Banks and gave the stock a “hold” rating in a report on Monday, June 5th. BidaskClub upgraded SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Instinet reiterated a “neutral” rating and set a $61.00 price objective on shares of SunTrust Banks in a report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of SunTrust Banks in a report on Sunday, July 23rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. SunTrust Banks currently has a consensus rating of “Hold” and an average target price of $60.39.
SunTrust Banks Company 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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