Certified Advisory Corp purchased a new position in shares of SunTrust Banks, Inc. (NYSE:STI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,734 shares of the financial services provider’s stock, valued at approximately $241,000.
A number of other large investors have also modified their holdings of STI. Valeo Financial Advisors LLC raised its holdings in shares of 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 valued at $105,000 after purchasing an additional 843 shares during the period. Tiedemann Wealth Management LLC raised its holdings in shares of 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 valued at $142,000 after purchasing an additional 2,920 shares during the period. Icon Wealth Partners LLC bought a new stake in shares of SunTrust Banks in the 4th quarter valued at about $156,000. Avestar Capital LLC bought a new stake in shares of SunTrust Banks in the 4th quarter valued at about $162,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of SunTrust Banks in the 3rd quarter valued at about $191,000. 83.59% of the stock is currently owned by hedge funds and other institutional investors.
STI stock opened at $65.97 on Friday. SunTrust Banks, Inc. has a 52-week low of $51.96 and a 52-week high of $73.37. The stock has a market cap of $33,188.44, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.13 and a beta of 1.33. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. SunTrust Banks’s payout ratio is presently 35.71%.
A number of equities research analysts have recently issued reports on the stock. Credit Suisse Group reaffirmed a “neutral” rating and issued a $73.00 target price (up from $71.00) on shares of SunTrust Banks in a report on Wednesday, March 14th. Zacks Investment Research lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Morgan Stanley upped their price target on shares of SunTrust Banks from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. ValuEngine upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, 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. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $69.61.
In other SunTrust Banks news, EVP Jerome T. Lienhard sold 29,248 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total transaction of $508,037.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan S. Johnson sold 3,600 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $71.04, for a total transaction of $255,744.00. Following the transaction, the insider now owns 8,857 shares in the company, valued at approximately $629,201.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,348 shares of company stock worth $1,289,757. Company insiders own 0.52% of the company’s stock.
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.
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