Nisa Investment Advisors LLC raised its position in shares of SunTrust Banks Inc. (NYSE:STI) by 8.6% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 221,726 shares of the financial services provider’s stock after buying an additional 17,550 shares during the period. Nisa Investment Advisors LLC’s holdings in SunTrust Banks were worth $9,712,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. AXA acquired a new stake in SunTrust Banks during the second quarter worth about $127,000. Amica Retiree Medical Trust acquired a new stake in SunTrust Banks during the second quarter worth about $129,000. Euclid Advisors LLC acquired a new stake in SunTrust Banks during the second quarter worth about $140,000. Washington Trust Bank boosted its stake in SunTrust Banks by 2.1% in the second quarter. Washington Trust Bank now owns 4,420 shares of the financial services provider’s stock worth $182,000 after buying an additional 90 shares during the last quarter. Finally, Tuttle Tactical Management LLC acquired a new stake in SunTrust Banks during the second quarter worth about $188,000. 81.23% of the stock is owned by institutional investors.
SunTrust Banks Inc. (NYSE:STI) traded down 1.23% during midday trading on Monday, hitting $51.56. The company’s stock had a trading volume of 5,382,264 shares. The company has a market cap of $25.57 billion, a PE ratio of 14.28 and a beta of 1.36. The stock has a 50 day moving average of $47.46 and a 200 day moving average of $43.85. SunTrust Banks Inc. has a 52-week low of $31.07 and a 52-week high of $52.65.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, October 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.03. SunTrust Banks had a return on equity of 8.18% and a net margin of 21.12%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business posted $1.00 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts expect that SunTrust Banks Inc. will post $3.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.99%. SunTrust Banks’s dividend payout ratio (DPR) is presently 28.89%.
STI has been the topic of a number of recent research reports. Robert W. Baird reiterated an “underperform” rating on shares of SunTrust Banks in a research note on Thursday, August 4th. Sanford C. Bernstein cut SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 price target for the company. in a report on Tuesday, August 16th. They noted that the move was a valuation call. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Wednesday, September 21st. Standpoint Research cut SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 15th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $43.00 price target on shares of SunTrust Banks in a report on Thursday, August 18th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $46.13.
In other SunTrust Banks news, SVP Thomas E. Panther sold 959 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $44.75, for a total transaction of $42,915.25. Following the sale, the senior vice president now owns 20,322 shares in the company, valued at $909,409.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan S. Johnson sold 794 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $45.58, for a total value of $36,190.52. Following the sale, the insider now owns 1,947 shares in the company, valued at approximately $88,744.26. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.