Kessler Investment Group LLC cut its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 44.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 639 shares of the financial services provider’s stock after selling 502 shares during the period. Kessler Investment Group LLC’s holdings in SunTrust Banks were worth $32,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STI. Capital International Investors bought a new stake in SunTrust Banks during the third quarter worth $441,578,000. Vanguard Group Inc. lifted its stake in SunTrust Banks by 2.2% during the third quarter. Vanguard Group Inc. now owns 36,403,676 shares of the financial services provider’s stock worth $2,431,401,000 after purchasing an additional 793,283 shares during the last quarter. Vanguard Group Inc lifted its stake in SunTrust Banks by 2.2% during the third quarter. Vanguard Group Inc now owns 36,403,676 shares of the financial services provider’s stock worth $2,431,401,000 after purchasing an additional 793,283 shares during the last quarter. Bank of Nova Scotia lifted its stake in SunTrust Banks by 613.4% during the second quarter. Bank of Nova Scotia now owns 583,090 shares of the financial services provider’s stock worth $38,495,000 after purchasing an additional 501,357 shares during the last quarter. Finally, Bridgeway Capital Management Inc. bought a new stake in SunTrust Banks during the third quarter worth $28,406,000. Hedge funds and other institutional investors own 82.60% of the company’s stock.
SunTrust Banks stock traded up $0.56 during trading hours on Friday, reaching $55.93. 250,766 shares of the company’s stock were exchanged, compared to its average volume of 5,108,074. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. SunTrust Banks, Inc. has a twelve month low of $46.05 and a twelve month high of $75.08. The company has a market cap of $24.92 billion, a P/E ratio of 13.88, a PEG ratio of 0.88 and a beta of 1.39.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.17. SunTrust Banks had a return on equity of 11.66% and a net margin of 28.17%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $1.06 EPS. The business’s revenue was down .8% compared to the same quarter last year. Equities research analysts forecast that SunTrust Banks, Inc. will post 5.6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 17th. Shareholders of record on Friday, November 30th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $2.00 dividend on an annualized basis and a yield of 3.58%. SunTrust Banks’s payout ratio is currently 49.50%.
STI has been the subject of several recent analyst reports. Wedbush set a $75.00 target price on SunTrust Banks and gave the stock a “hold” rating in a research note on Thursday, September 13th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Saturday, January 5th. Jefferies Financial Group cut SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Tuesday. B. Riley set a $79.00 price target on SunTrust Banks and gave the company a “buy” rating in a research note on Monday, October 15th. Finally, Piper Jaffray Companies cut SunTrust Banks from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $76.00 to $74.00 in a research note on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $74.08.
SunTrust Banks Company Profile
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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