Terril Brothers Inc. reduced its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 135,410 shares of the financial services provider’s stock after selling 375 shares during the quarter. SunTrust Banks accounts for approximately 2.7% of Terril Brothers Inc.’s holdings, making the stock its 13th biggest position. Terril Brothers Inc.’s holdings in SunTrust Banks were worth $8,511,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Moors & Cabot Inc. lifted its position in shares of SunTrust Banks by 52.1% during the 1st quarter. Moors & Cabot Inc. now owns 7,946 shares of the financial services provider’s stock valued at $474,000 after buying an additional 2,723 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of SunTrust Banks by 15.6% during the 1st quarter. Toronto Dominion Bank now owns 290,422 shares of the financial services provider’s stock worth $17,203,000 after acquiring an additional 39,143 shares in the last quarter. Clean Yield Group purchased a new stake in shares of SunTrust Banks during the 2nd quarter worth approximately $84,000. Abner Herrman & Brock LLC raised its holdings in shares of SunTrust Banks by 0.6% during the 2nd quarter. Abner Herrman & Brock LLC now owns 162,586 shares of the financial services provider’s stock worth $10,219,000 after acquiring an additional 940 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of SunTrust Banks by 9.0% during the 2nd quarter. Stephens Inc. AR now owns 121,814 shares of the financial services provider’s stock worth $7,656,000 after acquiring an additional 10,033 shares in the last quarter. Institutional investors and hedge funds own 80.32% of the company’s stock.
Several analysts have recently issued reports on STI shares. Argus set a $81.00 price objective on SunTrust Banks and gave the stock a “buy” rating in a report on Friday, July 19th. ValuEngine raised SunTrust Banks from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $69.45.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.39 billion. SunTrust Banks had a return on equity of 11.86% and a net margin of 23.92%. SunTrust Banks’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 EPS. On average, equities research analysts forecast that SunTrust Banks, Inc. will post 5.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.50. SunTrust Banks’s dividend payout ratio is 35.09%.
In other SunTrust Banks news, insider Ellen Koebler sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $60.84, for a total value of $243,360.00. Following the transaction, the insider now owns 1 shares of the company’s stock, valued at approximately $60.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Ryan Richards sold 1,844 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 2,083 shares in the company, valued at approximately $130,354.14. The disclosure for this sale can be found here. Insiders sold a total of 26,817 shares of company stock worth $1,726,407 in the last ninety days. 0.42% of the stock is currently owned by corporate insiders.
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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