Ibex Wealth Advisors bought a new position in shares of SunTrust Banks, Inc. (NYSE:STI) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 43,723 shares of the financial services provider’s stock, valued at approximately $2,889,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Capital Group LLC grew its holdings in shares of SunTrust Banks by 2,085.5% during the 1st quarter. Private Capital Group LLC now owns 1,508 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,439 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of 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 in the last quarter. First Personal Financial Services grew its holdings in shares of SunTrust Banks by 114.3% during the 1st quarter. First Personal Financial Services now owns 1,963 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,047 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in shares of SunTrust Banks during the 4th quarter worth $156,000. Finally, Summit Trail Advisors LLC grew its holdings in shares of SunTrust Banks by 6,663.1% during the 1st quarter. Summit Trail Advisors LLC now owns 159,204 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 156,850 shares in the last quarter. 83.61% of the stock is currently owned by institutional investors.
In related news, Director Steven C. Voorhees acquired 6,000 shares of the stock in a transaction dated Friday, May 4th. The stock was bought at an average cost of $65.96 per share, for a total transaction of $395,760.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $659,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jerome T. Lienhard sold 8,750 shares of the firm’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $69.06, for a total value of $604,275.00. Following the transaction, the executive vice president now owns 41,374 shares of the company’s stock, valued at $2,857,288.44. The disclosure for this sale can be found here. Insiders sold 21,250 shares of company stock valued at $1,464,300 over the last quarter. Corporate insiders own 0.52% of the company’s stock.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, April 20th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.11 by $0.18. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.29 billion. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. analysts predict that SunTrust Banks, Inc. will post 5.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 31st were given a $0.40 dividend. The ex-dividend date was Wednesday, May 30th. This represents a $1.60 annualized dividend and a yield of 2.34%. SunTrust Banks’s dividend payout ratio is presently 39.60%.
STI has been the topic of several analyst reports. Piper Jaffray Companies reissued a “buy” rating and set a $75.00 target price on shares of SunTrust Banks in a report on Sunday, April 22nd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $75.00 target price on shares of SunTrust Banks in a report on Thursday, April 5th. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Wednesday, March 21st. ValuEngine raised SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Stephens lowered SunTrust Banks from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 23rd. They noted that the move was a valuation call. Eighteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. SunTrust Banks presently has an average rating of “Hold” and a consensus target price of $70.50.
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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