SunTrust Banks Sees Unusually Large Options Volume (STI)
SunTrust Banks, Inc. (NYSE:STI) was the recipient of some unusual options trading on Friday. Investors bought 1,651 put options on the company. This is an increase of 535% compared to the average volume of 260 put options.
In other news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.
A number of hedge funds have recently modified their holdings of STI. State of Alaska Department of Revenue increased its holdings in SunTrust Banks by 64.5% in the second quarter. State of Alaska Department of Revenue now owns 6,679 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 2,620 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in SunTrust Banks in the second quarter worth approximately $288,000. Huntington National Bank increased its holdings in SunTrust Banks by 2.9% in 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 in the last quarter. Miller Howard Investments Inc. NY bought a new stake in SunTrust Banks in the second quarter worth approximately $1,985,000. Finally, Contravisory Investment Management Inc. bought a new stake in SunTrust Banks in the second quarter worth approximately $4,428,000. Institutional investors and hedge funds own 81.86% of the company’s stock.
SunTrust Banks (STI) opened at $57.21 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $27,230.00, a P/E ratio of 14.82, a P/E/G ratio of 1.54 and a beta of 1.29. SunTrust Banks has a 12 month low of $51.13 and a 12 month high of $61.69.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.06. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. analysts predict that SunTrust Banks will post 4.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.80%. SunTrust Banks’s payout ratio is currently 41.03%.
A number of analysts have recently commented on the company. UBS AG lowered SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Piper Jaffray Companies reissued a “buy” rating and set a $63.00 price target on shares of SunTrust Banks in a research note on Monday, August 28th. Sandler O’Neill lowered SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a research note on Monday, October 23rd. Raymond James Financial, Inc. lowered SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Finally, Instinet reissued a “neutral” rating and set a $63.00 price target (up from $62.00) on shares of SunTrust Banks in a research note on Saturday, September 30th. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. SunTrust Banks presently has a consensus rating of “Hold” and a consensus target price of $63.66.
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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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