BB&T Securities LLC Acquires 2,671 Shares of SunTrust Banks, Inc. (STI)
BB&T Securities LLC raised its holdings in SunTrust Banks, Inc. (NYSE:STI) by 15.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,371 shares of the financial services provider’s stock after purchasing an additional 2,671 shares during the quarter. BB&T Securities LLC’s holdings in SunTrust Banks were worth $1,217,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Fiduciary Trust Co. purchased a new stake in SunTrust Banks in the second quarter valued at $118,000. Advisory Services Network LLC boosted its holdings in 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 valued at $121,000 after purchasing an additional 20 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in SunTrust Banks in the second quarter valued at $136,000. Dupont Capital Management Corp boosted its holdings in SunTrust Banks by 55.2% in the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 933 shares during the last quarter. Finally, Blue Granite Capital LLC purchased a new stake in shares of SunTrust Banks during the 3rd quarter worth about $177,000. 80.82% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on STI shares. Piper Jaffray Companies reissued a “buy” rating and set a $63.00 target price on shares of SunTrust Banks in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Friday, September 22nd. Jefferies Group reissued a “buy” rating and set a $69.00 target price on shares of SunTrust Banks in a research note on Thursday, October 12th. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 target price on shares of SunTrust Banks in a research note on Monday, October 23rd. Finally, Morgan Stanley increased their target price on shares of SunTrust Banks from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Seventeen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $63.97.
SunTrust Banks, Inc. (NYSE:STI) traded up $0.32 on Friday, hitting $64.76. 4,489,900 shares of the company traded hands, compared to its average volume of 3,391,437. SunTrust Banks, Inc. has a 52-week low of $51.96 and a 52-week high of $65.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market cap of $30,960.00, a P/E ratio of 16.69, a PEG ratio of 1.74 and a beta of 1.29.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. sell-side analysts expect that SunTrust Banks, Inc. will post 4.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. SunTrust Banks’s dividend payout ratio (DPR) is presently 41.03%.
In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.
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SunTrust Banks 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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