Bp Plc Has $3,517,000 Position in SunTrust Banks, Inc. (STI)

Bp Plc held its stake in shares of SunTrust Banks, Inc. (NYSE:STI) during the second quarter, Holdings Channel reports. The firm owned 62,000 shares of the financial services provider’s stock at the end of the second quarter. Bp Plc’s holdings in SunTrust Banks were worth $3,517,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of STI. State of Alaska Department of Revenue purchased a new stake in shares of SunTrust Banks during the first quarter worth $224,000. Patten & Patten Inc. TN raised its position in shares of SunTrust Banks by 6.9% in the first quarter. Patten & Patten Inc. TN now owns 72,012 shares of the financial services provider’s stock worth $3,982,000 after buying an additional 4,626 shares during the period. DnB Asset Management AS raised its position in shares of SunTrust Banks by 14.4% in the first quarter. DnB Asset Management AS now owns 56,510 shares of the financial services provider’s stock worth $3,125,000 after buying an additional 7,100 shares during the period. Capital Investment Advisors LLC raised its position in shares of SunTrust Banks by 1.0% in the first quarter. Capital Investment Advisors LLC now owns 23,151 shares of the financial services provider’s stock worth $1,280,000 after buying an additional 231 shares during the period. Finally, Washington Trust Bank raised its position in shares of SunTrust Banks by 17.0% in the first quarter. Washington Trust Bank now owns 5,220 shares of the financial services provider’s stock worth $289,000 after buying an additional 759 shares during the period. Institutional investors and hedge funds own 82.10% of the company’s stock.

Shares of SunTrust Banks, Inc. (STI) opened at 57.60 on Thursday. The stock has a 50 day moving average of $56.79 and a 200 day moving average of $56.69. SunTrust Banks, Inc. has a 52 week low of $41.46 and a 52 week high of $61.69. The firm has a market cap of $27.82 billion, a P/E ratio of 15.32 and a beta of 1.33.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, July 21st. The financial services provider reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.05. SunTrust Banks had a return on equity of 8.48% and a net margin of 20.51%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the business earned $0.94 earnings per share. SunTrust Banks’s revenue was up 2.0% on a year-over-year basis. Analysts anticipate that SunTrust Banks, Inc. will post $4.04 earnings per share for the current fiscal year.

SunTrust Banks declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $1.32 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.40 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.26. SunTrust Banks’s dividend payout ratio (DPR) is presently 27.73%.

TRADEMARK VIOLATION NOTICE: This piece was first published by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.tickerreport.com/banking-finance/2798601/bp-plc-has-3517000-position-in-suntrust-banks-inc-sti.html.

A number of equities analysts recently issued reports on STI shares. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of SunTrust Banks in a research report on Sunday, April 23rd. Bank of America Corporation reaffirmed a “hold” rating on shares of SunTrust Banks in a research report on Monday, April 24th. Rafferty Capital Markets boosted their target price on shares of SunTrust Banks from $63.00 to $64.50 and gave the stock a “buy” rating in a research report on Monday, April 24th. Barclays PLC boosted their target price on shares of SunTrust Banks from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, April 24th. Finally, Zacks Investment Research lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $58.58.

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.

Want to see what other hedge funds are holding STI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunTrust Banks, Inc. (NYSE:STI).

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

Receive News & Ratings for SunTrust Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.