SunTrust Banks (NYSE:STI) EVP Jerome T. Lienhard sold 8,750 shares of the stock in a transaction on Monday, May 14th. The shares were sold at an average price of $69.06, for a total value of $604,275.00. Following the completion of the transaction, the executive vice president now directly owns 41,374 shares in the company, valued at approximately $2,857,288.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
SunTrust Banks opened at $69.28 on Wednesday, MarketBeat.com reports. The stock has a market cap of $32.04 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.02 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.91. SunTrust Banks has a 1 year low of $68.84 and a 1 year high of $69.72.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.18. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. sell-side analysts forecast that SunTrust Banks will post 5.23 earnings per share for the current year.
A number of research analysts have recently weighed in on STI shares. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Wednesday, March 21st. Credit Suisse Group reissued a “hold” rating and issued a $71.00 price target on shares of SunTrust Banks in a research note on Monday, February 26th. ValuEngine raised SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $75.00 price target on shares of SunTrust Banks in a research note on Thursday, April 5th. Finally, Piper Jaffray reissued a “buy” rating and issued a $75.00 price target on shares of SunTrust Banks in a research note on Sunday, April 22nd. Eighteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $70.50.
A number of hedge funds have recently added to or reduced their stakes in STI. Alliancebernstein L.P. increased its holdings in SunTrust Banks by 522.8% during the 4th quarter. Alliancebernstein L.P. now owns 5,543,914 shares of the financial services provider’s stock worth $358,081,000 after purchasing an additional 4,653,780 shares in the last quarter. Lazard Asset Management LLC increased its holdings in SunTrust Banks by 54.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,615,575 shares of the financial services provider’s stock worth $427,299,000 after purchasing an additional 2,319,782 shares in the last quarter. Schafer Cullen Capital Management Inc. bought a new position in SunTrust Banks during the 4th quarter worth about $81,267,000. Renaissance Technologies LLC increased its holdings in SunTrust Banks by 1,837.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,224,917 shares of the financial services provider’s stock worth $79,117,000 after purchasing an additional 1,161,700 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of SunTrust Banks by 162.8% in the 4th quarter. APG Asset Management N.V. now owns 1,761,268 shares of the financial services provider’s stock valued at $94,737,000 after acquiring an additional 1,091,177 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.
About SunTrust Banks
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through 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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