Mark A. Chancy Sells 41,882 Shares of SunTrust Banks, Inc. (STI) Stock

SunTrust Banks, Inc. (NYSE:STI) Vice Chairman Mark A. Chancy sold 41,882 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $63.10, for a total value of $2,642,754.20. Following the sale, the insider now directly owns 228,130 shares of the company’s stock, valued at $14,395,003. The transaction was disclosed in a document filed with the SEC, which is available through this link.

NYSE STI opened at $64.96 on Friday. The firm has a market capitalization of $28.79 billion, a PE ratio of 11.40, a PEG ratio of 1.39 and a beta of 1.53. SunTrust Banks, Inc. has a 52 week low of $46.05 and a 52 week high of $75.08. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.76.

SunTrust Banks (NYSE:STI) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.04. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.34 billion. SunTrust Banks had a return on equity of 12.22% and a net margin of 25.26%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $1.29 EPS. As a group, equities research analysts expect that SunTrust Banks, Inc. will post 5.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $0.50 dividend. The ex-dividend date is Thursday, May 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.08%. SunTrust Banks’s dividend payout ratio (DPR) is currently 35.09%.

STI has been the subject of a number of recent analyst reports. Robert W. Baird raised SunTrust Banks from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $70.00 to $62.00 in a report on Wednesday, January 2nd. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Saturday, January 5th. Jefferies Financial Group cut SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. ValuEngine raised SunTrust Banks from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $61.00 price target on shares of SunTrust Banks in a report on Sunday, January 20th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.65.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STI. Norges Bank acquired a new stake in shares of SunTrust Banks in the 4th quarter valued at $204,713,000. Oregon Public Employees Retirement Fund increased its stake in shares of SunTrust Banks by 4,883.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,581,469 shares of the financial services provider’s stock valued at $51,000 after buying an additional 2,529,671 shares during the period. Bessemer Group Inc. increased its stake in shares of SunTrust Banks by 21,740.3% in the 4th quarter. Bessemer Group Inc. now owns 1,416,126 shares of the financial services provider’s stock valued at $71,429,000 after buying an additional 1,409,642 shares during the period. Deutsche Bank AG increased its stake in shares of SunTrust Banks by 171.1% in the 4th quarter. Deutsche Bank AG now owns 2,094,544 shares of the financial services provider’s stock valued at $105,645,000 after buying an additional 1,321,862 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of SunTrust Banks by 229.4% in the 4th quarter. Two Sigma Advisers LP now owns 1,766,609 shares of the financial services provider’s stock valued at $89,108,000 after buying an additional 1,230,300 shares during the period. 80.51% of the stock is owned by institutional investors.

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About SunTrust Banks

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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Insider Buying and Selling by Quarter for SunTrust Banks (NYSE:STI)

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