Arcus Capital Partners LLC Has $607,000 Stake in SunTrust Banks, Inc. (STI)

Arcus Capital Partners LLC grew its position in SunTrust Banks, Inc. (NYSE:STI) by 0.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,710 shares of the financial services provider’s stock after buying an additional 2 shares during the quarter. Arcus Capital Partners LLC’s holdings in SunTrust Banks were worth $607,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of STI. Guardian Life Insurance Co. of America raised its position in shares of SunTrust Banks by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,893 shares of the financial services provider’s stock valued at $105,000 after buying an additional 18 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of SunTrust Banks in the 2nd quarter valued at approximately $118,000. Westwood Holdings Group Inc. acquired a new position in SunTrust Banks during the 2nd quarter worth approximately $136,000. Independent Portfolio Consultants Inc. increased its position in SunTrust Banks by 184.7% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,648 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 1,718 shares in the last quarter. Finally, Huntington National Bank increased its position in SunTrust Banks by 2.9% during the 2nd quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 81.18% of the company’s stock.

In related news, insider Susan S. Johnson sold 808 shares of SunTrust Banks stock in a transaction on Monday, August 14th. The shares were sold at an average price of $57.34, for a total value of $46,330.72. Following the transaction, the insider now directly owns 3,515 shares of the company’s stock, valued at $201,550.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is owned by insiders.

A number of equities analysts recently issued reports on the stock. FBR & Co cut shares of SunTrust Banks from a “buy” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research report on Tuesday. Nomura upped their price objective on shares of SunTrust Banks from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $62.00 price objective on shares of SunTrust Banks in a research report on Tuesday, October 3rd. UBS AG reiterated a “neutral” rating and set a $62.00 price objective (up from $61.00) on shares of SunTrust Banks in a research report on Friday, October 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $69.00 price objective on shares of SunTrust Banks in a research report on Thursday. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $62.48.

SunTrust Banks, Inc. (NYSE STI) traded down 0.37% during midday trading on Thursday, hitting $59.95. 919,630 shares of the stock were exchanged. SunTrust Banks, Inc. has a 1-year low of $44.25 and a 1-year high of $61.69. The company’s 50 day moving average is $56.84 and its 200-day moving average is $56.25. The stock has a market cap of $28.87 billion, a PE ratio of 15.94 and a beta of 1.31.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, July 21st. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. SunTrust Banks had a net margin of 20.51% and a return on equity of 8.48%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts expect that SunTrust Banks, Inc. will post $4.05 earnings per share for the current year.

SunTrust Banks declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $1.32 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, August 29th. SunTrust Banks’s payout ratio is presently 42.67%.

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SunTrust Banks Profile

SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.

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

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