Candriam Luxembourg S.C.A. decreased its position in shares of SunTrust Banks Inc. (NYSE:STI) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 245,496 shares of the financial services provider’s stock after selling 21,302 shares during the period. Candriam Luxembourg S.C.A.’s holdings in SunTrust Banks were worth $10,085,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Capital Management Corp VA raised its stake in SunTrust Banks by 0.6% in the second quarter. Capital Management Corp VA now owns 8,013 shares of the financial services provider’s stock worth $329,000 after buying an additional 45 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA increased its position in shares of SunTrust Banks by 0.6% in the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 10,925 shares of the financial services provider’s stock worth $456,000 after buying an additional 64 shares in the last quarter. Pitcairn Co. increased its position in shares of SunTrust Banks by 0.7% in the second quarter. Pitcairn Co. now owns 9,813 shares of the financial services provider’s stock worth $403,000 after buying an additional 72 shares in the last quarter. Washington Trust Bank increased its position in shares of SunTrust Banks by 2.1% in the second quarter. Washington Trust Bank now owns 4,420 shares of the financial services provider’s stock worth $182,000 after buying an additional 90 shares in the last quarter. Finally, BKD Wealth Advisors LLC increased its position in shares of SunTrust Banks by 5.9% in the second quarter. BKD Wealth Advisors LLC now owns 6,991 shares of the financial services provider’s stock worth $287,000 after buying an additional 392 shares in the last quarter. 82.37% of the stock is owned by institutional investors.
Shares of SunTrust Banks Inc. (NYSE:STI) traded up 1.43% on Tuesday, reaching $43.33. The company had a trading volume of 2,895,276 shares. SunTrust Banks Inc. has a 52-week low of $31.07 and a 52-week high of $45.24. The company’s 50-day moving average price is $43.26 and its 200-day moving average price is $41.33. The firm has a market capitalization of $21.72 billion, a price-to-earnings ratio of 11.73 and a beta of 1.31.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The business earned $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS. On average, analysts predict that SunTrust Banks Inc. will post $3.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.26 dividend. The ex-dividend date was Monday, August 29th. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 2.40%. SunTrust Banks’s payout ratio is 28.18%.
STI has been the topic of a number of research reports. Sanford C. Bernstein downgraded SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 target price on the stock. in a report on Tuesday, August 16th. They noted that the move was a valuation call. Wells Fargo & Co. reiterated a “buy” rating on shares of SunTrust Banks in a report on Sunday, July 10th. Robert W. Baird downgraded SunTrust Banks from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $43.00 to $41.00 in a report on Friday, July 15th. Barclays PLC reiterated an “equal weight” rating and issued a $46.00 target price on shares of SunTrust Banks in a report on Sunday, July 10th. Finally, Credit Suisse Group AG reiterated a “sell” rating on shares of SunTrust Banks in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $44.45.
In related news, insider Susan S. Johnson sold 1,118 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total value of $47,403.20. Following the completion of the sale, the insider now directly owns 1,119 shares in the company, valued at approximately $47,445.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is owned by corporate insiders.
About SunTrust Banks
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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