Investors Sell SunTrust Banks (STI) on Strength (STI)
Traders sold shares of SunTrust Banks, Inc. (NYSE:STI) on strength during trading on Friday. $75.18 million flowed into the stock on the tick-up and $170.01 million flowed out of the stock on the tick-down, for a money net flow of $94.83 million out of the stock. Of all equities tracked, SunTrust Banks had the 0th highest net out-flow for the day. SunTrust Banks traded up $0.95 for the day and closed at $65.00
A number of equities research analysts have recently weighed in on STI shares. Nomura lifted their price target on shares of SunTrust Banks from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Barclays lifted their price target on shares of SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Robert W. Baird reiterated a “hold” rating and issued a $55.00 price target on shares of SunTrust Banks in a research report on Friday, August 25th. Credit Suisse Group upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $56.00 to $60.00 in a research report on Monday, October 9th. Finally, Zacks Investment Research downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Fifteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $64.58.
The firm has a market cap of $30,942.14, a PE ratio of 16.84, a P/E/G ratio of 1.75 and a beta of 1.29. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. research analysts anticipate that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.46%. SunTrust Banks’s payout ratio is presently 41.03%.
In related news, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
Several institutional investors have recently modified their holdings of STI. Global X Management Co. LLC grew its stake in shares of SunTrust Banks by 35.3% in the second quarter. Global X Management Co. LLC now owns 6,399 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 1,669 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in SunTrust Banks by 3.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,589,418 shares of the financial services provider’s stock valued at $90,152,000 after buying an additional 50,309 shares during the period. Alps Advisors Inc. acquired a new position in SunTrust Banks in the second quarter valued at $369,000. Legal & General Group Plc lifted its holdings in SunTrust Banks by 2.0% in the second quarter. Legal & General Group Plc now owns 2,434,748 shares of the financial services provider’s stock valued at $138,098,000 after buying an additional 47,164 shares during the period. Finally, Pegasus Partners Ltd. lifted its holdings in SunTrust Banks by 2.0% in the second quarter. Pegasus Partners Ltd. now owns 19,155 shares of the financial services provider’s stock valued at $1,086,000 after buying an additional 384 shares during the period. 80.83% of the stock is currently owned by institutional investors.
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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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