Insider Buying: SunTrust Banks (STI) Director Purchases 1,000 Shares of Stock


SunTrust Banks (NYSE:STI) Director Frank P. Scruggs, Jr. purchased 1,000 shares of the stock in a transaction dated Wednesday, May 16th. The shares were acquired at an average price of $69.01 per share, with a total value of $69,010.00. Following the transaction, the director now owns 8,501 shares in the company, valued at $586,654.01. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.


SunTrust Banks traded down $0.73, reaching $68.65, during trading on Friday, according to MarketBeat Ratings. The company had a trading volume of 1,796,271 shares, compared to its average volume of 2,542,920. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.93. SunTrust Banks has a 12 month low of $51.96 and a 12 month high of $73.37. The firm has a market cap of $31.91 billion, a P/E ratio of 16.99, a PEG ratio of 1.01 and a beta of 1.33.

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SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, April 20th. The financial services provider reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.18. SunTrust Banks had a net margin of 24.92% and a return on equity of 10.05%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The business’s revenue was up .4% on a year-over-year basis. sell-side analysts anticipate that SunTrust Banks will post 5.28 earnings per share for the current fiscal year.


The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Wednesday, May 30th. SunTrust Banks’s payout ratio is currently 39.60%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Capital Group LLC lifted its stake in SunTrust Banks by 2,085.5% in the first quarter. Private Capital Group LLC now owns 1,508 shares of the financial services provider’s stock valued at $103,000 after buying an additional 1,439 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in SunTrust Banks by 107.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after buying an additional 843 shares in the last quarter. First Personal Financial Services lifted its stake in SunTrust Banks by 114.3% in the first quarter. First Personal Financial Services now owns 1,963 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,047 shares in the last quarter. Icon Wealth Partners LLC bought a new position in SunTrust Banks in the fourth quarter valued at approximately $156,000. Finally, Avestar Capital LLC bought a new position in SunTrust Banks in the fourth quarter valued at approximately $162,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.


Several equities research analysts have recently commented on STI shares. Stephens cut shares of SunTrust Banks from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 23rd. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $75.00 price target on shares of SunTrust Banks in a research report on Thursday, April 5th. Susquehanna Bancshares set a $75.00 price target on shares of SunTrust Banks and gave the stock a “hold” rating in a research report on Tuesday, April 10th. B. Riley reiterated a “hold” rating and set a $70.00 price target on shares of SunTrust Banks in a research report on Monday, January 22nd. Finally, Zacks Investment Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Monday, March 26th. Eighteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $70.50.


About SunTrust Banks

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through 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.

Insider Buying and Selling by Quarter for SunTrust Banks (NYSE:STI)

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