Trustmark National Bank Trust Department Has $3.03 Million Position in SunTrust Banks, Inc. (STI)
Trustmark National Bank Trust Department reduced its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,703 shares of the financial services provider’s stock after selling 3,035 shares during the period. Trustmark National Bank Trust Department’s holdings in SunTrust Banks were worth $3,030,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Fiduciary Trust Co. bought a new position in SunTrust Banks during the 2nd quarter valued at about $118,000. Advisory Services Network LLC lifted its holdings in SunTrust Banks by 0.9% during the 2nd 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. bought a new position in SunTrust Banks during the 2nd quarter valued at about $136,000. Dupont Capital Management Corp lifted its holdings in SunTrust Banks by 55.2% during the 3rd 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, Huntington National Bank lifted its holdings in SunTrust Banks by 2.9% during the 2nd quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 80 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.
SunTrust Banks, Inc. (NYSE:STI) traded down $0.41 on Friday, hitting $57.21. 833,130 shares of the company were exchanged, compared to its average volume of 3,081,479. 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 company has a market capitalization of $27,429.03, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.55 and a beta of 1.29. SunTrust Banks, Inc. has a twelve month low of $51.13 and a twelve month high of $61.69.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.06. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. SunTrust Banks’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. equities analysts anticipate that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Wednesday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is 41.03%.
STI has been the subject of a number of research analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued 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 for the company in a research note on Friday, September 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $69.00 target price on shares of SunTrust Banks in a research note on Thursday, October 12th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 target price on shares of SunTrust Banks in a research note on Monday, October 23rd. Finally, Morgan Stanley raised shares of SunTrust Banks from an “underweight” rating to an “equal weight” rating and set a $63.00 target price for the company in a research note on Thursday, August 3rd. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $63.66.
In related news, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.
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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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