SunTrust Banks, Inc. (NYSE:STI) Vice Chairman Mark A. Chancy sold 7,500 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $70.13, for a total transaction of $525,975.00. Following the sale, the insider now owns 149,955 shares in the company, valued at $10,516,344.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of SunTrust Banks, Inc. (NYSE:STI) traded up $0.37 during midday trading on Tuesday, reaching $71.52. 4,639,537 shares of the company were exchanged, compared to its average volume of 3,936,475. The company has a market cap of $33,870.00, a price-to-earnings ratio of 15.96, a PEG ratio of 1.13 and a beta of 1.37. SunTrust Banks, Inc. has a 1-year low of $51.96 and a 1-year high of $72.06. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.32 billion. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.90 EPS. analysts predict that SunTrust Banks, Inc. will post 5.03 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of STI. Valeo Financial Advisors LLC raised its holdings in SunTrust Banks by 107.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 843 shares during the last quarter. Advisory Services Network LLC raised its holdings in SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 20 shares during the last quarter. Tiedemann Wealth Management LLC raised its holdings in SunTrust Banks by 12.1% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 2,920 shares during the last quarter. Icon Wealth Partners LLC bought a new position in SunTrust Banks during the 4th quarter worth approximately $156,000. Finally, Dupont Capital Management Corp raised its holdings in SunTrust Banks by 55.2% during the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 933 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.
A number of equities research analysts have issued reports on STI shares. Sandler O’Neill downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Monday, October 23rd. Keefe, Bruyette & Woods upgraded shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 12th. Wedbush downgraded shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $71.00 to $63.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. UBS Group upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and raised their price target for the company from $62.00 to $73.00 in a research note on Tuesday, December 12th. Finally, Morgan Stanley upgraded shares of SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price target on the stock in a research note on Monday, January 8th. Fifteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $69.02.
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About SunTrust Banks
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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