SunTrust Banks, Inc. (STI) Shares Bought by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. lifted its stake in SunTrust Banks, Inc. (NYSE:STI) by 217.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,669 shares of the financial services provider’s stock after acquiring an additional 31,955 shares during the period. Daiwa Securities Group Inc.’s holdings in SunTrust Banks were worth $3,014,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC grew its stake in shares of SunTrust Banks by 0.9% in the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 20 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of SunTrust Banks by 3.6% in the fourth quarter. Raymond James Trust N.A. now owns 24,957 shares of the financial services provider’s stock worth $1,612,000 after acquiring an additional 871 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of SunTrust Banks by 5.2% in the fourth quarter. Alps Advisors Inc. now owns 17,665 shares of the financial services provider’s stock worth $1,141,000 after acquiring an additional 873 shares during the last quarter. Mcmillion Capital Management Inc. boosted its stake in SunTrust Banks by 2.0% during the fourth quarter. Mcmillion Capital Management Inc. now owns 46,953 shares of the financial services provider’s stock worth $3,033,000 after buying an additional 908 shares in the last quarter. Finally, Investec Asset Management PTY Ltd boosted its stake in SunTrust Banks by 3.4% during the third quarter. Investec Asset Management PTY Ltd now owns 28,280 shares of the financial services provider’s stock worth $1,688,000 after buying an additional 926 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.
STI has been the topic of a number of recent research reports. UBS Group upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $73.00 in a research note on Tuesday, December 12th. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 price target on shares of SunTrust Banks in a research note on Monday, October 23rd. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, December 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $77.00 price target on shares of SunTrust Banks in a research note on Friday, December 29th. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $74.00 price target on shares of SunTrust Banks in a research note on Thursday, January 4th. Fifteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $69.02.
SunTrust Banks, Inc. (NYSE STI) opened at $67.92 on Wednesday. The stock has a market capitalization of $31,830.22, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 1.26 and a beta of 1.37. SunTrust Banks, Inc. has a twelve month low of $51.96 and a twelve month high of $72.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 0.93.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.04. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. equities research analysts anticipate that SunTrust Banks, Inc. will post 5.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.36%. SunTrust Banks’s payout ratio is presently 35.71%.
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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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