GWM Advisors LLC Raises Position in SunTrust Banks, Inc. (NYSE:STI)

GWM Advisors LLC lifted its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 7.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,439 shares of the financial services provider’s stock after buying an additional 442 shares during the quarter. GWM Advisors LLC’s holdings in SunTrust Banks were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of STI. FMR LLC increased its stake in shares of SunTrust Banks by 59.9% during the 1st quarter. FMR LLC now owns 23,269,649 shares of the financial services provider’s stock worth $1,378,727,000 after purchasing an additional 8,716,823 shares during the last quarter. CNH Partners LLC purchased a new position in SunTrust Banks in the 1st quarter valued at approximately $240,779,000. Alpine Associates Management Inc. purchased a new position in SunTrust Banks in the 1st quarter valued at approximately $114,713,000. Boston Partners grew its stake in SunTrust Banks by 43.7% in the 1st quarter. Boston Partners now owns 6,241,376 shares of the financial services provider’s stock valued at $369,802,000 after buying an additional 1,898,260 shares in the last quarter. Finally, IndexIQ Advisors LLC grew its stake in SunTrust Banks by 1,064.1% in the 1st quarter. IndexIQ Advisors LLC now owns 1,198,368 shares of the financial services provider’s stock valued at $71,004,000 after buying an additional 1,095,427 shares in the last quarter. Institutional investors own 80.32% of the company’s stock.

STI has been the subject of a number of recent research reports. ValuEngine upgraded shares of SunTrust Banks from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Argus set a $81.00 price objective on shares of SunTrust Banks and gave the company a “buy” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $69.45.

STI opened at $60.70 on Friday. The company has a fifty day moving average price of $63.33 and a 200-day moving average price of $63.07. The firm has a market capitalization of $26.68 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.27 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. SunTrust Banks, Inc. has a one year low of $46.05 and a one year high of $75.02.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.39 billion. SunTrust Banks had a net margin of 23.92% and a return on equity of 11.86%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 EPS. On average, analysts expect that SunTrust Banks, Inc. will post 5.57 earnings per share for the current year.

The company also recently declared 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 is a positive change from SunTrust Banks’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Thursday, August 29th. SunTrust Banks’s payout ratio is 35.09%.

In other news, insider Ellen Koebler sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $60.84, for a total transaction of $243,360.00. Following the completion of the transaction, the insider now directly owns 1 shares in the company, valued at approximately $60.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Mark A. Chancy sold 20,973 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $65.21, for a total transaction of $1,367,649.33. Following the transaction, the insider now owns 246,630 shares of the company’s stock, valued at $16,082,742.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

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

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