SunTrust Banks (NYSE:STI) COO Hugh S. Cummins III sold 11,000 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $69.00, for a total transaction of $759,000.00. Following the transaction, the chief operating officer now owns 40,198 shares in the company, valued at $2,773,662. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
STI stock opened at $68.96 on Friday. SunTrust Banks has a twelve month low of $51.96 and a twelve month high of $73.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.91. The company has a market cap of $32.23 billion, a PE ratio of 17.07, a P/E/G ratio of 1.02 and a beta of 1.33.
SunTrust Banks (NYSE:STI) last released its quarterly 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. SunTrust Banks had a net margin of 24.92% and a return on equity of 10.05%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the company earned $0.91 earnings per share. The business’s quarterly revenue was up .4% compared to the same quarter last year. analysts anticipate that SunTrust Banks will post 5.28 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new stake in shares of SunTrust Banks during the fourth quarter worth approximately $308,000. Exencial Wealth Advisors LLC grew its position in shares of SunTrust Banks by 4.4% during the fourth quarter. Exencial Wealth Advisors LLC now owns 72,645 shares of the financial services provider’s stock worth $4,692,000 after buying an additional 3,068 shares in the last quarter. Raymond James & Associates grew its position in shares of SunTrust Banks by 1.2% during the fourth quarter. Raymond James & Associates now owns 629,215 shares of the financial services provider’s stock worth $40,642,000 after buying an additional 7,421 shares in the last quarter. MainStreet Investment Advisors LLC acquired a new stake in shares of SunTrust Banks during the fourth quarter worth approximately $262,000. Finally, Parkside Financial Bank & Trust grew its position in shares of SunTrust Banks by 1,017.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,710 shares of the financial services provider’s stock worth $240,000 after buying an additional 3,378 shares in the last quarter. 83.68% of the stock is owned by institutional investors and hedge funds.
STI has been the topic of several recent analyst reports. ValuEngine upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Wednesday, March 21st. Credit Suisse Group restated a “neutral” rating and issued a $73.00 price target (up previously from $71.00) on shares of SunTrust Banks in a report on Wednesday, March 14th. BMO Capital Markets cut their price target on shares of SunTrust Banks from $79.00 to $77.00 and set a “market perform” rating on the stock in a report on Friday, April 20th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $75.00 price target on shares of SunTrust Banks in a report on Thursday, April 5th. Eighteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. SunTrust Banks presently has a consensus 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.
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