grace capital decreased its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 42.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,639 shares of the financial services provider’s stock after selling 19,778 shares during the period. grace capital’s holdings in SunTrust Banks were worth $1,344,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Sontag Advisory LLC purchased a new position in shares of SunTrust Banks during the 4th quarter valued at approximately $27,000. Resources Investment Advisors Inc. lifted its position in shares of SunTrust Banks by 465.0% during 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 in the last quarter. Capital Investment Advisory Services LLC purchased a new position in shares of SunTrust Banks during the 4th quarter valued at approximately $30,000. ERTS Wealth Advisors LLC purchased a new position in shares of SunTrust Banks during the 4th quarter valued at approximately $31,000. Finally, Athena Capital Advisors LLC purchased a new position in shares of SunTrust Banks during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.05% of the company’s stock.
In other news, EVP Jorge Arrieta sold 4,000 shares of SunTrust Banks stock in a transaction on Monday, February 25th. The stock was sold at an average price of $66.25, for a total transaction of $265,000.00. Following the transaction, the executive vice president now owns 8,662 shares in the company, valued at approximately $573,857.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of SunTrust Banks stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $65.38, for a total value of $653,800.00. Following the transaction, the insider now owns 205,846 shares in the company, valued at approximately $13,458,211.48. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, January 18th. The financial services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts expect that SunTrust Banks, Inc. will post 5.8 EPS for the current year.
The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $2.00 annualized dividend and a dividend yield of 3.48%. SunTrust Banks’s dividend payout ratio is presently 35.09%.
STI has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 target price on the stock. in a research report on Friday, February 8th. Keefe, Bruyette & Woods lowered SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Friday, February 8th. BMO Capital Markets increased their target price on SunTrust Banks from $61.00 to $73.00 and gave the company a “market perform” rating in a research report on Monday, February 11th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Saturday, January 5th. Finally, Jefferies Financial Group lowered SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Sixteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.20.
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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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