Keybank National Association OH Purchases 1,283 Shares of SunTrust Banks, Inc. (NYSE:STI)

Keybank National Association OH grew its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,232 shares of the financial services provider’s stock after buying an additional 1,283 shares during the period. Keybank National Association OH’s holdings in SunTrust Banks were worth $7,305,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CNB Bank increased its position in shares of SunTrust Banks by 790.0% in the first quarter. CNB Bank now owns 445 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 395 shares during the period. Massey Quick Simon & CO. LLC bought a new position in shares of SunTrust Banks in the first quarter worth $30,000. Icon Wealth Partners LLC bought a new position in shares of SunTrust Banks in the first quarter worth $30,000. Winslow Evans & Crocker Inc. boosted its stake in SunTrust Banks by 439.6% in the first quarter. Winslow Evans & Crocker Inc. now owns 572 shares of the financial services provider’s stock valued at $34,000 after buying an additional 466 shares in the last quarter. Finally, Manchester Financial Inc. acquired a new stake in SunTrust Banks in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

In other news, insider Ellen Koebler sold 4,000 shares of SunTrust Banks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $60.84, for a total transaction of $243,360.00. Following the sale, the insider now directly owns 1 shares of the company’s stock, valued at $60.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Mark A. Chancy sold 20,973 shares of SunTrust Banks 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 sale, the insider now directly owns 246,630 shares in the company, valued at $16,082,742.30. The disclosure for this sale can be found here. Insiders have sold 26,817 shares of company stock worth $1,726,407 over the last three months. Insiders own 0.42% of the company’s stock.

Several research firms recently weighed in on STI. Morgan Stanley reduced their price objective on SunTrust Banks from $73.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. ValuEngine raised SunTrust Banks from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Argus set a $81.00 price objective on SunTrust Banks and gave the company a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $69.45.

Shares of STI stock traded up $0.46 during mid-day trading on Thursday, reaching $59.56. 33,513 shares of the stock traded hands, compared to its average volume of 3,023,851. The business has a fifty day moving average price of $63.63. SunTrust Banks, Inc. has a 1-year low of $46.05 and a 1-year high of $75.08. The stock has a market capitalization of $26.73 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 1.26 and a beta of 1.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.97 and a current ratio of 0.98.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.02. SunTrust Banks had a return on equity of 11.86% and a net margin of 23.92%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm posted $1.49 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts expect that SunTrust Banks, Inc. will post 5.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.76%. This is a positive change from SunTrust Banks’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, August 29th. SunTrust Banks’s dividend payout ratio (DPR) is presently 35.09%.

SunTrust Banks 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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