Axa boosted its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 72.7% during the fourth quarter, HoldingsChannel reports. The firm owned 172,328 shares of the financial services provider’s stock after purchasing an additional 72,527 shares during the quarter. Axa’s holdings in SunTrust Banks were worth $11,130,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Valeo Financial Advisors LLC boosted its position in SunTrust Banks by 107.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 843 shares in the last quarter. Tiedemann Wealth Management LLC raised its stake in SunTrust Banks by 12.1% in the third quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock valued at $142,000 after buying an additional 2,920 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in SunTrust Banks in the fourth quarter valued at about $156,000. Dupont Capital Management Corp raised its stake in SunTrust Banks by 55.2% in the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after buying an additional 933 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in SunTrust Banks in the third quarter valued at about $191,000. 82.76% of the stock is currently owned by institutional investors.
A number of research firms have commented on STI. Keefe, Bruyette & Woods upgraded SunTrust Banks from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 12th. UBS Group upgraded SunTrust Banks from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $73.00 in a research note on Tuesday, December 12th. BMO Capital Markets reiterated a “hold” rating and issued a $79.00 price target on shares of SunTrust Banks in a research note on Sunday, January 21st. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Friday, January 5th. Finally, B. Riley reiterated a “hold” rating and issued a $70.00 price target on shares of SunTrust Banks in a research note on Monday, January 22nd. Sixteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. SunTrust Banks presently has an average rating of “Hold” and a consensus target price of $69.16.
SunTrust Banks, Inc. (STI) opened at $72.85 on Monday. SunTrust Banks, Inc. has a 12 month low of $51.96 and a 12 month high of $72.87. The stock has a market capitalization of $34,115.65, a PE ratio of 16.26, a PEG ratio of 1.16 and a beta of 1.33. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.04. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. research analysts anticipate that SunTrust Banks, Inc. will post 5.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, February 27th. SunTrust Banks’s payout ratio is 35.71%.
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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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