SunTrust Banks, Inc. (STI) Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP decreased its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 38.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,023 shares of the financial services provider’s stock after selling 21,599 shares during the quarter. Wakefield Asset Management LLLP’s holdings in SunTrust Banks were worth $1,716,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sontag Advisory LLC acquired a new position in SunTrust Banks in the 4th quarter valued at $27,000. Resources Investment Advisors Inc. grew its stake in SunTrust Banks by 465.0% in the 4th quarter. Resources Investment Advisors Inc. now owns 565 shares of the financial services provider’s stock valued at $28,000 after buying an additional 465 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new position in SunTrust Banks in the 4th quarter valued at $30,000. ERTS Wealth Advisors LLC acquired a new position in SunTrust Banks in the 4th quarter valued at $31,000. Finally, Athena Capital Advisors LLC acquired a new position in SunTrust Banks in the 4th quarter valued at $35,000. Institutional investors own 81.14% of the company’s stock.

In related news, EVP Jorge Arrieta sold 4,000 shares of SunTrust Banks stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $66.25, for a total transaction of $265,000.00. Following the completion of the transaction, the executive vice president now directly owns 8,662 shares of the company’s stock, valued at approximately $573,857.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of SunTrust Banks stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total transaction of $653,800.00. Following the transaction, the insider now directly owns 205,846 shares of the company’s stock, valued at $13,458,211.48. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Several analysts have issued reports on STI shares. Keefe, Bruyette & Woods lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Friday, February 8th. ValuEngine lowered shares of SunTrust Banks from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Wedbush raised their price target on shares of SunTrust Banks from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 22nd. Sandler O’Neill lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $69.00 price target on the stock. in a research report on Friday, February 8th. Finally, Robert W. Baird upgraded shares of SunTrust Banks from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $70.00 to $62.00 in a research report on Wednesday, January 2nd. Sixteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $71.20.

Shares of NYSE:STI traded down $0.29 during midday trading on Monday, reaching $57.11. 110,652 shares of the company’s stock were exchanged, compared to its average volume of 4,065,655. The company has a market capitalization of $25.44 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 1.19 and a beta of 1.55. SunTrust Banks, Inc. has a 12 month low of $46.05 and a 12 month high of $75.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 0.95.

SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, January 18th. The financial services provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. SunTrust Banks had a net margin of 26.61% and a return on equity of 12.40%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS. Sell-side analysts forecast that SunTrust Banks, Inc. will post 5.8 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Wednesday, February 27th. SunTrust Banks’s payout ratio is 35.09%.

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SunTrust Banks Profile

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.

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Institutional Ownership by Quarter for SunTrust Banks (NYSE:STI)

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