Amalgamated Bank Cuts Holdings in SunTrust Banks, Inc. (STI)

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Amalgamated Bank decreased its position in SunTrust Banks, Inc. (NYSE:STI) by 2.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 58,624 shares of the financial services provider’s stock after selling 1,342 shares during the period. Amalgamated Bank’s holdings in SunTrust Banks were worth $3,989,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Capital Group LLC lifted its stake in SunTrust Banks by 2,085.5% in the 1st quarter. Private Capital Group LLC now owns 1,508 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 1,439 shares in the last quarter. First Personal Financial Services lifted its stake in SunTrust Banks by 114.3% in the 1st quarter. First Personal Financial Services now owns 1,963 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,047 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in SunTrust Banks in the 4th quarter valued at approximately $156,000. Summit Trail Advisors LLC lifted its stake in SunTrust Banks by 6,663.1% in the 1st quarter. Summit Trail Advisors LLC now owns 159,204 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 156,850 shares in the last quarter. Finally, Avestar Capital LLC bought a new stake in SunTrust Banks in the 4th quarter valued at approximately $162,000. Hedge funds and other institutional investors own 83.61% of the company’s stock.

SunTrust Banks opened at $67.49 on Friday, MarketBeat Ratings reports. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The company has a market cap of $31.88 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.01 and a beta of 1.31. SunTrust Banks, Inc. has a 1-year low of $51.96 and a 1-year high of $73.37.

SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.18. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.29 billion. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. equities analysts forecast that SunTrust Banks, Inc. will post 5.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 31st were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Wednesday, May 30th. SunTrust Banks’s payout ratio is presently 39.60%.

Several equities research analysts have commented on the company. Credit Suisse Group boosted their target price on SunTrust Banks from $73.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, April 23rd. Stephens cut 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. Piper Jaffray Companies restated a “buy” rating and issued a $75.00 target price on shares of SunTrust Banks in a research note on Sunday, April 22nd. BMO Capital Markets cut their target price on SunTrust Banks from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Friday, April 20th. Finally, Susquehanna Bancshares set a $75.00 target price on SunTrust Banks and gave the company a “hold” rating in a research note on Tuesday, April 10th. Eighteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. SunTrust Banks has a consensus rating of “Hold” and an average price target of $70.50.

In related news, EVP Jerome T. Lienhard sold 8,750 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $69.06, for a total transaction of $604,275.00. Following the transaction, the executive vice president now directly owns 41,374 shares of the company’s stock, valued at approximately $2,857,288.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Hugh S. Cummins III sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $69.00, for a total value of $759,000.00. Following the transaction, the chief operating officer now directly owns 40,198 shares in the company, valued at $2,773,662. The disclosure for this sale can be found here. Insiders have sold a total of 21,250 shares of company stock worth $1,464,300 over the last three months. 0.52% of the stock is owned by insiders.

SunTrust Banks 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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Institutional Ownership by Quarter for SunTrust Banks (NYSE:STI)

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