Toronto Dominion Bank Buys 39,143 Shares of SunTrust Banks, Inc. (STI)

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Toronto Dominion Bank grew its stake in SunTrust Banks, Inc. (NYSE:STI) by 15.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,422 shares of the financial services provider’s stock after acquiring an additional 39,143 shares during the quarter. Toronto Dominion Bank’s holdings in SunTrust Banks were worth $17,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Arcus Capital Partners LLC lifted its position in SunTrust Banks by 1.7% during the first quarter. Arcus Capital Partners LLC now owns 9,972 shares of the financial services provider’s stock worth $591,000 after buying an additional 164 shares during the period. Independence Bank of Kentucky increased its stake in SunTrust Banks by 1.1% during the first quarter. Independence Bank of Kentucky now owns 15,830 shares of the financial services provider’s stock worth $938,000 after acquiring an additional 165 shares during the last quarter. Eqis Capital Management Inc. increased its stake in SunTrust Banks by 2.8% during the first quarter. Eqis Capital Management Inc. now owns 6,227 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 168 shares during the last quarter. First Manhattan Co. increased its stake in SunTrust Banks by 1.5% during the first quarter. First Manhattan Co. now owns 13,154 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 198 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV increased its stake in SunTrust Banks by 0.3% during the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 66,070 shares of the financial services provider’s stock worth $3,333,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 79.28% of the company’s stock.

Several brokerages have commented on STI. Zacks Investment Research lowered SunTrust Banks from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Morgan Stanley dropped their price target on SunTrust Banks from $73.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Macquarie upgraded SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 price target for the company in a research note on Friday, February 8th. ValuEngine upgraded SunTrust Banks from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, UBS Group lowered SunTrust Banks from a “buy” rating to a “neutral” rating and upped their price target for the stock from $68.00 to $71.00 in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $70.65.

In other news, Vice Chairman Mark A. Chancy sold 41,882 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $63.10, for a total value of $2,642,754.20. Following the completion of the sale, the insider now owns 228,130 shares in the company, valued at $14,395,003. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total value of $653,800.00. Following the completion of the sale, the insider now owns 205,846 shares of the company’s stock, valued at approximately $13,458,211.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,488 shares of company stock valued at $3,980,771. Insiders own 0.42% of the company’s stock.

Shares of STI stock traded up $0.44 during trading hours on Friday, reaching $62.62. The company had a trading volume of 21,506 shares, compared to its average volume of 2,176,127. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.95 and a current ratio of 0.96. SunTrust Banks, Inc. has a twelve month low of $46.05 and a twelve month high of $75.08. The firm has a market cap of $27.60 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56.

SunTrust Banks (NYSE:STI) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. SunTrust Banks had a return on equity of 12.22% and a net margin of 25.26%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that SunTrust Banks, Inc. will post 5.78 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.19%. SunTrust Banks’s dividend payout ratio (DPR) is currently 35.09%.

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SunTrust Banks Company Profile

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in 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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Institutional Ownership by Quarter for SunTrust Banks (NYSE:STI)

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