Amalgamated Bank Buys 4,531 Shares of SunTrust Banks, Inc. (STI)
Amalgamated Bank increased its stake in SunTrust Banks, Inc. (NYSE:STI) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,966 shares of the financial services provider’s stock after acquiring an additional 4,531 shares during the period. Amalgamated Bank’s holdings in SunTrust Banks were worth $3,873,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Copper Rock Capital Partners LLC grew its position in SunTrust Banks by 48.4% in the fourth quarter. Copper Rock Capital Partners LLC now owns 135,293 shares of the financial services provider’s stock worth $8,854,000 after acquiring an additional 44,110 shares in the last quarter. Parkside Financial Bank & Trust grew its position in SunTrust Banks by 1,017.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,710 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 3,378 shares in the last quarter. Commerce Bank grew its position in SunTrust Banks by 293.8% in the third quarter. Commerce Bank now owns 17,967 shares of the financial services provider’s stock worth $1,074,000 after acquiring an additional 13,405 shares in the last quarter. Bank of Stockton grew its position in SunTrust Banks by 17.8% in the third quarter. Bank of Stockton now owns 12,190 shares of the financial services provider’s stock worth $728,000 after acquiring an additional 1,840 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its position in SunTrust Banks by 10.6% in the third quarter. Commonwealth Bank of Australia now owns 83,465 shares of the financial services provider’s stock worth $4,982,000 after acquiring an additional 7,987 shares in the last quarter. Institutional investors own 81.91% of the company’s stock.
STI has been the subject of several recent research reports. Credit Suisse Group reiterated a “hold” rating and issued a $71.00 price target on shares of SunTrust Banks in a research report on Monday, February 26th. Wedbush lowered SunTrust Banks from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $71.00 to $63.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. Keefe, Bruyette & Woods restated a “buy” rating and set a $77.00 target price on shares of SunTrust Banks in a research report on Friday, December 29th. Morgan Stanley upgraded SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 target price for the company in a research report on Monday, January 8th. Finally, Vining Sparks restated a “buy” rating and set a $85.00 target price on shares of SunTrust Banks in a research report on Monday, January 8th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $69.16.
Shares of SunTrust Banks, Inc. (STI) opened at $69.62 on Friday. 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, Inc. has a 12 month low of $51.96 and a 12 month high of $72.62. The firm has a market cap of $32,706.08, a P/E ratio of 15.54, a PEG ratio of 1.11 and a beta of 1.32.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. sell-side analysts expect that SunTrust Banks, Inc. will post 5.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, February 27th. SunTrust Banks’s dividend 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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