Tredje AP fonden Grows Holdings in SunTrust Banks, Inc. (STI)
Tredje AP fonden grew its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 11.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,284 shares of the financial services provider’s stock after buying an additional 6,730 shares during the quarter. Tredje AP fonden’s holdings in SunTrust Banks were worth $3,842,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fiduciary Trust Co. purchased a new position in shares of SunTrust Banks in the second quarter valued at $118,000. Advisory Services Network LLC boosted 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 valued at $121,000 after purchasing an additional 20 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of SunTrust Banks in the second quarter valued at $136,000. Tiedemann Wealth Management LLC boosted its stake in shares of SunTrust Banks by 12.1% in the third quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 2,920 shares during the period. Finally, Dupont Capital Management Corp boosted its stake in shares of 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 period. Institutional investors own 80.82% of the company’s stock.
STI has been the subject of several analyst reports. Nomura upped their target price on shares of SunTrust Banks from $63.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. Barclays upped their target price on shares of SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. Robert W. Baird restated a “hold” rating and issued a $55.00 target price on shares of SunTrust Banks in a research note on Friday, August 25th. Credit Suisse Group upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and upped their target price for the company from $56.00 to $60.00 in a research note on Monday, October 9th. Finally, Zacks Investment Research downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Seventeen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $63.97.
In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total transaction of $240,240.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction on 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. Corporate insiders own 0.55% of the company’s stock.
SunTrust Banks, Inc. (NYSE STI) traded up $0.34 during midday trading on Monday, reaching $61.97. 3,987,500 shares of the company’s stock were exchanged, compared to its average volume of 3,358,453. SunTrust Banks, Inc. has a 12-month low of $51.81 and a 12-month high of $62.91. 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 cap of $29,499.78, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.29.
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, meeting the Zacks’ 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 for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm posted $0.91 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. research analysts predict that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. SunTrust Banks’s dividend payout ratio (DPR) is 41.03%.
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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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