Laurel Wealth Advisors LLC grew its position in SunTrust Banks, Inc. (NYSE:STI) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,950 shares of the financial services provider’s stock after acquiring an additional 291 shares during the period. Laurel Wealth Advisors LLC’s holdings in SunTrust Banks were worth $1,380,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. MRA Associates USA LLC bought a new position in shares of SunTrust Banks in the second quarter valued at approximately $25,000. CNB Bank raised its stake in shares of SunTrust Banks by 790.0% in the first quarter. CNB Bank now owns 445 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 395 shares during the last quarter. Icon Wealth Partners LLC bought a new position in shares of SunTrust Banks in the first quarter valued at approximately $30,000. Manchester Financial Inc. bought a new position in shares of SunTrust Banks in the second quarter valued at approximately $34,000. Finally, Berman Capital Advisors LLC raised its stake in shares of SunTrust Banks by 49.6% in the first quarter. Berman Capital Advisors LLC now owns 606 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 201 shares during the last quarter. Institutional investors own 80.32% of the company’s stock.
In other news, insider Ellen Koebler sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $60.84, for a total value of $243,360.00. Following the completion of the transaction, the insider now owns 1 shares of the company’s stock, valued at approximately $60.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Mark A. Chancy sold 20,973 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $65.21, for a total transaction of $1,367,649.33. Following the completion of the transaction, the insider now directly owns 246,630 shares of the company’s stock, valued at approximately $16,082,742.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
STI stock traded down $0.53 during trading on Tuesday, hitting $59.60. The company had a trading volume of 470,518 shares, compared to its average volume of 2,928,040. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $62.99 and a 200-day moving average price of $63.08. SunTrust Banks, Inc. has a 12 month low of $46.05 and a 12 month high of $75.02. The stock has a market cap of $26.21 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.25 and a beta of 1.48.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. SunTrust Banks had a net margin of 23.92% and a return on equity of 11.86%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the business earned $1.49 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. Equities analysts expect that SunTrust Banks, Inc. will post 5.57 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.56 dividend. This is a positive change from SunTrust Banks’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.76%. SunTrust Banks’s payout ratio is 35.09%.
About SunTrust Banks
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in 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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