Sei Investments Co. increased its stake in SunTrust Banks, Inc. (NYSE:STI) by 13.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 460,138 shares of the financial services provider’s stock after purchasing an additional 55,878 shares during the quarter. Sei Investments Co. owned about 0.10% of SunTrust Banks worth $31,307,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Intercontinental Wealth Advisors LLC raised its position in SunTrust Banks by 13.8% during the 4th quarter. Intercontinental Wealth Advisors LLC now owns 5,845 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 707 shares during the last quarter. Bray Capital Advisors grew its holdings in shares of SunTrust Banks by 21.2% during the 1st quarter. Bray Capital Advisors now owns 4,491 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 786 shares during the period. LS Investment Advisors LLC grew its holdings in shares of SunTrust Banks by 3.6% during the 1st quarter. LS Investment Advisors LLC now owns 23,233 shares of the financial services provider’s stock worth $1,581,000 after acquiring an additional 803 shares during the period. Advisor Group Inc. grew its holdings in shares of SunTrust Banks by 3.9% during the 4th quarter. Advisor Group Inc. now owns 21,547 shares of the financial services provider’s stock worth $1,393,000 after acquiring an additional 811 shares during the period. Finally, Columbia Partners L L C Investment Management grew its holdings in shares of SunTrust Banks by 22.2% during the 4th quarter. Columbia Partners L L C Investment Management now owns 4,519 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 821 shares during the period. Institutional investors own 83.61% of the company’s stock.
Several analysts recently weighed in on the company. ValuEngine upgraded SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Wednesday, March 21st. Piper Jaffray Companies reissued a “buy” rating and set a $75.00 price target on shares of SunTrust Banks in a report on Sunday, April 22nd. Credit Suisse Group reaffirmed a “neutral” rating and issued a $73.00 target price (up from $71.00) on shares of SunTrust Banks in a report on Wednesday, March 14th. Finally, BMO Capital Markets decreased their target price on SunTrust Banks from $79.00 to $77.00 and set a “market perform” rating on the stock in a report on Friday, April 20th. Eighteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. SunTrust Banks has a consensus rating of “Hold” and a consensus price target of $70.50.
In other news, Director Frank P. Scruggs, Jr. purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, May 16th. The stock was acquired at an average price of $69.01 per share, with a total value of $69,010.00. Following the purchase, the director now directly owns 8,501 shares in the company, valued at approximately $586,654.01. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, COO Hugh S. Cummins III sold 11,000 shares of the stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $69.00, for a total transaction of $759,000.00. Following the transaction, the chief operating officer now directly owns 40,198 shares of the company’s stock, valued at approximately $2,773,662. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,250 shares of company stock valued at $1,464,300. Insiders own 0.52% of the company’s stock.
Shares of STI opened at $67.49 on Friday. SunTrust Banks, Inc. has a 1-year low of $51.96 and a 1-year high of $73.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.93. The firm has a market cap of $31.92 billion, a PE ratio of 16.71, a P/E/G ratio of 1.01 and a beta of 1.31.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.11 by $0.18. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.29 billion. SunTrust Banks had a net margin of 24.92% and a return on equity of 10.05%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share. sell-side analysts anticipate that SunTrust Banks, Inc. will post 5.3 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 31st were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 2.37%. SunTrust Banks’s dividend payout ratio (DPR) is presently 39.60%.
About SunTrust Banks
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through 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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