Commerzbank Aktiengesellschaft FI bought a new stake in SunTrust Banks, Inc. (NYSE:STI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,070 shares of the financial services provider’s stock, valued at approximately $363,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fiduciary Trust Co. purchased a new stake in SunTrust Banks during the second quarter valued at about $118,000. Advisory Services Network LLC boosted its position in SunTrust Banks by 0.9% during the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after buying an additional 20 shares during the period. Westwood Holdings Group Inc. purchased a new stake in SunTrust Banks during the second quarter valued at about $136,000. Dupont Capital Management Corp boosted its position in SunTrust Banks by 55.2% during the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after buying an additional 933 shares during the period. Finally, Blue Granite Capital LLC purchased a new stake in shares of SunTrust Banks during the third quarter worth about $177,000. 80.83% of the stock is currently owned by institutional investors and hedge funds.
In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.
SunTrust Banks, Inc. (NYSE:STI) traded down $0.66 during mid-day trading on Monday, reaching $64.54. 2,385,025 shares of the company were exchanged, compared to its average volume of 3,387,955. SunTrust Banks, Inc. has a 12 month low of $51.96 and a 12 month high of $65.36. The company has a market capitalization of $30,770.00, a P/E ratio of 16.89, a P/E/G ratio of 1.76 and a beta of 1.29. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. SunTrust Banks’s revenue was up 3.7% on a year-over-year basis. equities research analysts anticipate that SunTrust Banks, Inc. will post 4.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, November 29th. SunTrust Banks’s payout ratio is currently 41.03%.
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SunTrust Banks Company Profile
SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.
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