Brandywine Global Investment Management LLC boosted its holdings in SunTrust Banks, Inc. (NYSE:STI) by 3.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 551,149 shares of the financial services provider’s stock after buying an additional 16,874 shares during the period. Brandywine Global Investment Management LLC’s holdings in SunTrust Banks were worth $35,599,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of STI. Valeo Financial Advisors LLC boosted its stake in SunTrust Banks by 107.5% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $105,000 after buying an additional 843 shares during the last quarter. Tiedemann Wealth Management LLC boosted its stake in SunTrust Banks by 12.1% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock worth $142,000 after buying an additional 2,920 shares during the last quarter. Icon Wealth Partners LLC acquired a new stake in SunTrust Banks in the 4th quarter worth about $156,000. Dupont Capital Management Corp boosted its stake in SunTrust Banks by 55.2% in the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after buying an additional 933 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in SunTrust Banks in the 3rd quarter worth about $191,000. 82.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SunTrust Banks, Inc. (STI) opened at $72.85 on Friday. The company has a market capitalization of $34,680.00, a PE ratio of 18.92, a P/E/G ratio of 1.14 and a beta of 1.32. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. SunTrust Banks, Inc. has a twelve month low of $51.96 and a twelve month high of $72.87.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. SunTrust Banks’s payout ratio is currently 41.56%.
In related news, Vice Chairman Mark A. Chancy sold 7,500 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $70.13, for a total transaction of $525,975.00. Following the sale, the insider now directly owns 149,955 shares in the company, valued at approximately $10,516,344.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jerome T. Lienhard sold 29,248 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total value of $508,037.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,348 shares of company stock worth $1,289,757. Company insiders own 0.55% of the company’s stock.
Several equities analysts have recently weighed in on STI shares. Zacks Investment Research lowered SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Morgan Stanley lifted their price objective on SunTrust Banks from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Credit Suisse Group reaffirmed a “hold” rating and issued a $71.00 price objective on shares of SunTrust Banks in a research note on Monday, February 26th. ValuEngine raised SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $79.00 price objective on shares of SunTrust Banks in a research note on Sunday, January 21st. Sixteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $69.16.
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SunTrust Banks Company Profile
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.
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