SunTrust Banks, Inc. (NYSE:STI) Shares Purchased by Stephens Inc. AR

Stephens Inc. AR boosted its position in SunTrust Banks, Inc. (NYSE:STI) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,814 shares of the financial services provider’s stock after acquiring an additional 10,033 shares during the quarter. Stephens Inc. AR’s holdings in SunTrust Banks were worth $7,656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of STI. CNB Bank lifted its stake in shares of SunTrust Banks by 790.0% during the first quarter. CNB Bank now owns 445 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 395 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new position in shares of SunTrust Banks during the first quarter worth about $30,000. Icon Wealth Partners LLC acquired a new position in shares of SunTrust Banks during the first quarter worth about $30,000. Winslow Evans & Crocker Inc. lifted its stake in shares of SunTrust Banks by 439.6% during the first quarter. Winslow Evans & Crocker Inc. now owns 572 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 466 shares in the last quarter. Finally, Manchester Financial Inc. acquired a new position in shares of SunTrust Banks during the second quarter worth about $34,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Shares of NYSE STI traded down $0.02 during midday trading on Thursday, reaching $59.08. 70,862 shares of the company’s stock were exchanged, compared to its average volume of 3,023,851. SunTrust Banks, Inc. has a 52-week low of $46.05 and a 52-week high of $75.08. The company has a market capitalization of $26.73 billion, a PE ratio of 10.37, a PEG ratio of 1.26 and a beta of 1.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.98 and a quick ratio of 0.97. The stock’s fifty day moving average price is $63.63.

SunTrust Banks (NYSE:STI) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.02. SunTrust Banks had a return on equity of 11.86% and a net margin of 23.92%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the company earned $1.49 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts expect that SunTrust Banks, Inc. will post 5.6 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.79%. This is a positive change from SunTrust Banks’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, August 29th. SunTrust Banks’s payout ratio is presently 35.09%.

A number of research analysts have commented on STI shares. Argus set a $81.00 price objective on SunTrust Banks and gave the stock a “buy” rating in a research note on Friday, July 19th. Morgan Stanley reduced their price objective on SunTrust Banks from $73.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Finally, ValuEngine upgraded SunTrust Banks from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.45.

In related news, Vice Chairman Mark A. Chancy sold 20,973 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $65.21, for a total value of $1,367,649.33. Following the completion of the sale, the insider now directly owns 246,630 shares of the company’s stock, valued at $16,082,742.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Ryan Richards sold 1,844 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $62.58, for a total value of $115,397.52. Following the completion of the sale, the insider now directly owns 2,083 shares of the company’s stock, valued at $130,354.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,817 shares of company stock worth $1,726,407. Corporate insiders own 0.42% of the company’s stock.

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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Institutional Ownership by Quarter for SunTrust Banks (NYSE:STI)

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