US Bancorp DE Has $10,270,000 Position in SunTrust Banks Inc. (STI)
US Bancorp DE decreased its stake in shares of SunTrust Banks Inc. (NYSE:STI) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 234,500 shares of the financial services provider’s stock after selling 6,239 shares during the period. US Bancorp DE’s holdings in SunTrust Banks were worth $10,270,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in STI. AXA purchased a new position in shares of SunTrust Banks during the second quarter valued at about $127,000. Amica Retiree Medical Trust purchased a new position in shares of SunTrust Banks during the second quarter valued at about $129,000. MSI Financial Services Inc increased its position in shares of SunTrust Banks by 66.2% in the third quarter. MSI Financial Services Inc now owns 3,010 shares of the financial services provider’s stock valued at $132,000 after buying an additional 1,199 shares during the last quarter. Euclid Advisors LLC purchased a new position in shares of SunTrust Banks during the second quarter valued at about $140,000. Finally, Washington Trust Bank increased its position in shares of SunTrust Banks by 2.1% in the second quarter. Washington Trust Bank now owns 4,420 shares of the financial services provider’s stock valued at $182,000 after buying an additional 90 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of SunTrust Banks Inc. (NYSE:STI) traded up 2.05% during mid-day trading on Wednesday, reaching $52.19. 1,635,883 shares of the company traded hands. The stock has a market capitalization of $25.88 billion, a PE ratio of 14.46 and a beta of 1.36. The stock’s 50 day moving average is $47.63 and its 200 day moving average is $43.96. SunTrust Banks Inc. has a 52-week low of $31.07 and a 52-week high of $52.65.
SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, October 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.03. SunTrust Banks had a net margin of 21.12% and a return on equity of 8.18%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the firm posted $1.00 earnings per share. SunTrust Banks’s revenue was up 8.4% compared to the same quarter last year. On average, analysts anticipate that SunTrust Banks Inc. will post $3.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Monday, November 28th. SunTrust Banks’s dividend payout ratio (DPR) is currently 28.89%.
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A number of equities analysts have weighed in on the stock. Wedbush increased their price target on shares of SunTrust Banks from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Friday, November 25th. FBR & Co set a $49.00 price target on shares of SunTrust Banks and gave the stock a “buy” rating in a research note on Monday, October 24th. Compass Point downgraded shares of SunTrust Banks from a “buy” rating to a “neutral” rating and increased their price target for the stock from $48.00 to $54.00 in a research note on Wednesday, November 23rd. They noted that the move was a valuation call. Finally, Sanford C. Bernstein downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 price target on the stock. in a research note on Tuesday, August 16th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.39.
In related news, insider Anil T. Cheriyan sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $52.15, for a total transaction of $417,200.00. Following the transaction, the insider now owns 81,203 shares of the company’s stock, valued at $4,234,736.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Thomas E. Panther sold 959 shares of the business’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $44.75, for a total transaction of $42,915.25. Following the transaction, the senior vice president now directly owns 20,322 shares in the company, valued at approximately $909,409.50. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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