Insider Buying: SunTrust Banks (STI) Director Purchases $69,010.00 in Stock

SunTrust Banks (NYSE:STI) Director Frank P. Scruggs, Jr. acquired 1,000 shares of SunTrust Banks stock in a transaction dated Wednesday, May 16th. The shares were acquired at an average cost of $69.01 per share, with a total value of $69,010.00. Following the completion of the acquisition, the director now directly owns 8,501 shares in the company, valued at approximately $586,654.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of SunTrust Banks traded down $0.73, reaching $68.65, during mid-day trading on Friday, MarketBeat.com reports. 1,796,271 shares of the stock were exchanged, compared to its average volume of 2,542,920. The stock has a market capitalization of $31.91 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.33. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.48. SunTrust Banks has a fifty-two week low of $51.96 and a fifty-two week high of $73.37.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, April 20th. The financial services provider reported $1.29 earnings per share 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 analysts’ expectations of $2.29 billion. SunTrust Banks had a net margin of 24.92% and a return on equity of 10.05%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. equities analysts anticipate that SunTrust Banks will post 5.28 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, May 30th. SunTrust Banks’s payout ratio is presently 39.60%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Intercontinental Wealth Advisors LLC increased its position in SunTrust Banks by 13.8% in the 4th quarter. Intercontinental Wealth Advisors LLC now owns 5,845 shares of the financial services provider’s stock valued at $378,000 after acquiring an additional 707 shares in the last quarter. Bray Capital Advisors grew its position in shares of SunTrust Banks by 21.2% during the 1st quarter. Bray Capital Advisors now owns 4,491 shares of the financial services provider’s stock worth $306,000 after buying an additional 786 shares during the period. LS Investment Advisors LLC grew its position in shares of SunTrust Banks by 3.6% during the 1st quarter. LS Investment Advisors LLC now owns 23,233 shares of the financial services provider’s stock worth $1,581,000 after buying an additional 803 shares during the period. Advisor Group Inc. grew its position in shares of SunTrust Banks by 3.9% during the 4th quarter. Advisor Group Inc. now owns 21,547 shares of the financial services provider’s stock worth $1,393,000 after buying an additional 811 shares during the period. Finally, Columbia Partners L L C Investment Management grew its position in shares of SunTrust Banks by 22.2% during the 4th quarter. Columbia Partners L L C Investment Management now owns 4,519 shares of the financial services provider’s stock worth $291,000 after buying an additional 821 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

STI has been the subject of a number of analyst reports. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Wednesday, March 21st. Credit Suisse Group reaffirmed a “hold” rating and set a $71.00 price objective on shares of SunTrust Banks in a report on Monday, February 26th. ValuEngine raised shares of SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $75.00 price objective on shares of SunTrust Banks in a report on Thursday, April 5th. Finally, Piper Jaffray reaffirmed a “buy” rating and set a $75.00 price objective on shares of SunTrust Banks in a report on Sunday, April 22nd. Eighteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average 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.

Insider Buying and Selling by Quarter for SunTrust Banks (NYSE:STI)

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