GWM Advisors LLC grew its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 7.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,439 shares of the financial services provider’s stock after acquiring an additional 442 shares during the period. GWM Advisors LLC’s holdings in SunTrust Banks were worth $405,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. CNB Bank grew its holdings in SunTrust Banks by 790.0% during the 1st quarter. CNB Bank now owns 445 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 395 shares during the period. Icon Wealth Partners LLC acquired a new stake in SunTrust Banks during the 1st quarter worth about $30,000. Manchester Financial Inc. acquired a new stake in SunTrust Banks during the 2nd quarter worth about $34,000. Winslow Evans & Crocker Inc. grew its holdings in SunTrust Banks by 439.6% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 572 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 466 shares during the period. Finally, Berman Capital Advisors LLC grew its holdings in SunTrust Banks by 49.6% during the 1st quarter. Berman Capital Advisors LLC now owns 606 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 201 shares during the period. Hedge funds and other institutional investors own 80.32% of the company’s stock.
Shares of STI opened at $60.70 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.98 and a quick ratio of 0.97. The stock has a 50-day moving average of $63.33 and a 200-day moving average of $63.07. The company has a market cap of $26.68 billion, a PE ratio of 10.65, a P/E/G ratio of 1.27 and a beta of 1.48. SunTrust Banks, Inc. has a one year low of $46.05 and a one year high of $75.02.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a dividend yield of 3.69%. SunTrust Banks’s dividend payout ratio (DPR) is currently 35.09%.
A number of analysts have weighed in on STI shares. Argus set a $81.00 price target on SunTrust Banks and gave the stock a “buy” rating in a report on Friday, July 19th. ValuEngine upgraded SunTrust Banks from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.45.
In other news, insider Ellen Koebler sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $60.84, for a total value of $243,360.00. Following the completion of the sale, the insider now directly owns 1 shares in the company, valued at approximately $60.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Mark A. Chancy sold 20,973 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $65.21, for a total value of $1,367,649.33. Following the completion of the sale, the insider now owns 246,630 shares of the company’s stock, valued at $16,082,742.30. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
About SunTrust Banks
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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