Commonwealth Equity Services LLC Sells 21,620 Shares of SunTrust Banks, Inc. (NYSE:STI)

Commonwealth Equity Services LLC lowered its position in SunTrust Banks, Inc. (NYSE:STI) by 27.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,892 shares of the financial services provider’s stock after selling 21,620 shares during the quarter. Commonwealth Equity Services LLC’s holdings in SunTrust Banks were worth $3,914,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MRA Associates USA LLC bought a new position in SunTrust Banks in the second quarter worth approximately $25,000. Venturi Wealth Management LLC purchased a new stake in SunTrust Banks during the third quarter worth $32,000. Manchester Financial Inc. purchased a new stake in SunTrust Banks during the second quarter worth $34,000. Private Capital Group LLC lifted its holdings in SunTrust Banks by 60.0% during the second quarter. Private Capital Group LLC now owns 664 shares of the financial services provider’s stock worth $44,000 after buying an additional 249 shares during the period. Finally, Burt Wealth Advisors purchased a new stake in SunTrust Banks during the second quarter worth $43,000. 80.40% of the stock is currently owned by institutional investors.

Shares of STI opened at $70.61 on Friday. SunTrust Banks, Inc. has a 12 month low of $46.05 and a 12 month high of $71.75. The stock has a fifty day moving average price of $68.18 and a 200-day moving average price of $64.44. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.83. The firm has a market cap of $31.26 billion, a PE ratio of 12.39, a P/E/G ratio of 1.59 and a beta of 1.53.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.40 EPS for the quarter, meeting the consensus estimate of $1.40. SunTrust Banks had a return on equity of 11.40% and a net margin of 22.31%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business posted $1.56 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts forecast that SunTrust Banks, Inc. will post 5.52 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.24 annualized dividend and a dividend yield of 3.17%. SunTrust Banks’s dividend payout ratio is presently 39.30%.

In other news, insider Ellen Koebler sold 4,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $60.84, for a total transaction of $243,360.00. Following the completion of the sale, the insider now owns 1 shares in the company, valued at approximately $60.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

A number of analysts have weighed in on STI shares. Morgan Stanley upped their target price on SunTrust Banks from $66.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. UBS Group lowered their target price on SunTrust Banks from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Monday, October 21st. Argus set a $81.00 target price on SunTrust Banks and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Jefferies Financial Group upgraded SunTrust Banks from a “hold” rating to a “buy” rating and upped their target price for the stock from $67.00 to $75.00 in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $68.20.

SunTrust Banks 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.

Further Reading: Most Active Stocks

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

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