Northwestern Mutual Wealth Management Co. trimmed its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 54.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,128 shares of the financial services provider’s stock after selling 7,409 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in SunTrust Banks were worth $364,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Arcus Capital Partners LLC boosted its stake in SunTrust Banks by 1.7% during the 1st quarter. Arcus Capital Partners LLC now owns 9,972 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 164 shares during the last quarter. Independence Bank of Kentucky raised its holdings in SunTrust Banks by 1.1% in the 1st quarter. Independence Bank of Kentucky now owns 15,830 shares of the financial services provider’s stock valued at $938,000 after buying an additional 165 shares during the period. Eqis Capital Management Inc. raised its holdings in SunTrust Banks by 2.8% in the 1st quarter. Eqis Capital Management Inc. now owns 6,227 shares of the financial services provider’s stock valued at $369,000 after buying an additional 168 shares during the period. Magnus Financial Group LLC raised its holdings in SunTrust Banks by 3.6% in the 1st quarter. Magnus Financial Group LLC now owns 5,527 shares of the financial services provider’s stock valued at $327,000 after buying an additional 192 shares during the period. Finally, First Manhattan Co. raised its holdings in SunTrust Banks by 1.5% in the 1st quarter. First Manhattan Co. now owns 13,154 shares of the financial services provider’s stock valued at $779,000 after buying an additional 198 shares during the period. 80.16% of the stock is owned by hedge funds and other institutional investors.
STI has been the topic of several research analyst reports. UBS Group lowered shares of SunTrust Banks from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $68.00 to $71.00 in a report on Monday, March 4th. Morgan Stanley restated an “equal weight” rating and issued a $73.00 price objective (down from $80.00) on shares of SunTrust Banks in a report on Monday, March 11th. Wells Fargo & Co reiterated a “buy” rating on shares of SunTrust Banks in a research note on Monday, March 18th. ValuEngine lowered shares of SunTrust Banks from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Finally, Zacks Investment Research lowered shares of SunTrust Banks from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.65.
Shares of STI stock traded up $0.68 during trading hours on Monday, reaching $63.53. 1,645,900 shares of the stock were exchanged, compared to its average volume of 3,647,619. The stock has a fifty day moving average price of $62.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.95. SunTrust Banks, Inc. has a 12-month low of $46.05 and a 12-month high of $75.08. The stock has a market cap of $27.89 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 1.39 and a beta of 1.48.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.04. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.34 billion. SunTrust Banks had a return on equity of 12.22% and a net margin of 25.26%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 earnings per share. As a group, research analysts predict that SunTrust Banks, Inc. will post 5.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Thursday, May 30th. SunTrust Banks’s dividend payout ratio (DPR) is 35.09%.
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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