Moors & Cabot Inc. reduced its stake in SunTrust Banks, Inc. (NYSE:STI) by 23.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,973 shares of the financial services provider’s stock after selling 1,250 shares during the period. Moors & Cabot Inc.’s holdings in SunTrust Banks were worth $237,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Liberty Wealth Management LLC bought a new stake in shares of SunTrust Banks in the fourth quarter valued at about $26,000. CNB Bank lifted its holdings 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 valued at $26,000 after purchasing an additional 395 shares in the last quarter. Sontag Advisory LLC bought a new stake in shares of SunTrust Banks in the fourth quarter valued at about $27,000. Resources Investment Advisors Inc. lifted its holdings in shares of SunTrust Banks by 465.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 565 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 465 shares in the last quarter. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of SunTrust Banks in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 80.20% of the company’s stock.
Shares of SunTrust Banks stock traded up $0.50 on Friday, hitting $64.57. The stock had a trading volume of 2,147,784 shares, compared to its average volume of 2,011,308. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $28.44 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.40 and a beta of 1.54. SunTrust Banks, Inc. has a twelve month low of $46.05 and a twelve month high of $75.08.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, May 30th. SunTrust Banks’s dividend payout ratio (DPR) is currently 35.09%.
In related news, EVP Jorge Arrieta sold 6,606 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $63.46, for a total value of $419,216.76. Following the completion of the sale, the executive vice president now directly owns 2,556 shares in the company, valued at $162,203.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Mark A. Chancy sold 41,882 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were 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 of the company’s stock, valued at $14,395,003. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,332 shares of company stock valued at $3,177,368. 0.42% of the stock is currently owned by corporate insiders.
STI has been the topic of a number of research reports. Morgan Stanley restated an “equal weight” rating and issued a $73.00 price target (down from $80.00) on shares of SunTrust Banks in a report on Monday, March 11th. Zacks Investment Research downgraded SunTrust Banks from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. ValuEngine downgraded SunTrust Banks from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. UBS Group downgraded SunTrust Banks from a “buy” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $71.00 in a research report on Monday, March 4th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of SunTrust Banks in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $70.65.
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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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