Investors Buy SunTrust Banks (STI) on Weakness

Investors bought shares of SunTrust Banks, Inc. (NYSE:STI) on weakness during trading hours on Monday. $67.41 million flowed into the stock on the tick-up and $34.67 million flowed out of the stock on the tick-down, for a money net flow of $32.74 million into the stock. Of all companies tracked, SunTrust Banks had the 21st highest net in-flow for the day. SunTrust Banks traded down ($0.58) for the day and closed at $64.62

STI has been the topic of a number of research analyst reports. Nomura lifted their price target on shares of SunTrust Banks from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. Barclays lifted their price target on shares of SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Robert W. Baird reiterated a “hold” rating and issued a $55.00 price target on shares of SunTrust Banks in a report on Friday, August 25th. Credit Suisse Group upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $56.00 to $60.00 in a report on Monday, October 9th. Finally, Zacks Investment Research lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Fifteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. SunTrust Banks presently has an average rating of “Hold” and an average target price of $64.58.

The stock has a market cap of $30,761.27, a P/E ratio of 16.74, a PEG ratio of 1.74 and a beta of 1.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93.

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 Thomson Reuters’ consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. equities research analysts expect that SunTrust Banks, Inc. will post 4.06 EPS for the current year.

The company 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.44%. The ex-dividend date is Wednesday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is 41.03%.

In other news, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its holdings in shares of SunTrust Banks by 0.9% in the 2nd 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. Intrust Bank NA boosted its holdings in shares of SunTrust Banks by 0.4% in the 2nd quarter. Intrust Bank NA now owns 16,568 shares of the financial services provider’s stock valued at $940,000 after buying an additional 70 shares during the period. Cadence Capital Management LLC boosted its holdings in shares of SunTrust Banks by 0.4% in the 2nd quarter. Cadence Capital Management LLC now owns 20,181 shares of the financial services provider’s stock valued at $1,145,000 after buying an additional 88 shares during the period. Balentine LLC boosted its holdings in shares of SunTrust Banks by 2.9% in the 2nd quarter. Balentine LLC now owns 3,148 shares of the financial services provider’s stock valued at $179,000 after buying an additional 90 shares during the period. Finally, Krilogy Financial LLC boosted its holdings in shares of SunTrust Banks by 1.8% in the 2nd quarter. Krilogy Financial LLC now owns 5,153 shares of the financial services provider’s stock valued at $292,000 after buying an additional 90 shares during the period. 80.83% of the stock is owned by institutional investors.

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About SunTrust Banks

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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