Sentry Investment Management LLC cut its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 8.2% in the 1st quarter, Holdings Channel reports. The firm owned 27,500 shares of the financial services provider’s stock after selling 2,443 shares during the period. Sentry Investment Management LLC’s holdings in SunTrust Banks were worth $1,629,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Liberty Wealth Management LLC acquired a new stake in SunTrust Banks during the fourth quarter valued at approximately $26,000. CNB Bank lifted its stake in SunTrust Banks by 790.0% during the first quarter. CNB Bank now owns 445 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 395 shares during the last quarter. Sontag Advisory LLC acquired a new stake in SunTrust Banks during the fourth quarter valued at approximately $27,000. Resources Investment Advisors Inc. lifted its stake in SunTrust Banks by 465.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 565 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 465 shares during the last quarter. Finally, Capital Investment Advisory Services LLC acquired a new stake in SunTrust Banks during the fourth quarter valued at approximately $30,000. 79.28% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:STI opened at $62.93 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $27.79 billion, a P/E ratio of 11.04, a PEG ratio of 1.35 and a beta of 1.56. SunTrust Banks, Inc. has a 52 week low of $46.05 and a 52 week high of $75.08.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.18%. SunTrust Banks’s dividend payout ratio (DPR) is 35.09%.
In other news, EVP Jorge Arrieta sold 4,000 shares of the business’s 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 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 is accessible through the SEC website. Also, Vice Chairman Mark A. Chancy sold 41,882 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $63.10, for a total transaction of $2,642,754.20. Following the transaction, the insider now owns 228,130 shares in the company, valued at approximately $14,395,003. The disclosure for this sale can be found here. Insiders sold a total of 62,488 shares of company stock worth $3,980,771 over the last quarter. 0.42% of the stock is currently owned by company insiders.
STI has been the subject of several recent research reports. Wedbush increased their target price on shares of SunTrust Banks from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, January 22nd. Robert W. Baird downgraded shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and set a $61.90 price target for the company. in a research report on Monday, January 28th. ValuEngine downgraded shares of SunTrust Banks from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Sanford C. Bernstein downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 price target for the company. in a research report on Friday, February 8th. Finally, Macquarie upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 price target for the company in a research report on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. SunTrust Banks presently has an average rating of “Hold” and an average target price of $70.65.
SunTrust Banks Company 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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