Parkside Financial Bank & Trust lifted its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 22.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,949 shares of the financial services provider’s stock after acquiring an additional 1,278 shares during the quarter. Parkside Financial Bank & Trust’s holdings in SunTrust Banks were worth $437,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of STI. CNB Bank boosted its holdings in SunTrust Banks by 790.0% during the first quarter. CNB Bank now owns 445 shares of the financial services provider’s stock worth $26,000 after buying an additional 395 shares in the last quarter. Icon Wealth Partners LLC purchased a new stake in SunTrust Banks during the first quarter worth about $30,000. Manchester Financial Inc. purchased a new stake in SunTrust Banks during the second quarter worth about $34,000. Winslow Evans & Crocker Inc. boosted its holdings in SunTrust Banks by 439.6% during the first quarter. Winslow Evans & Crocker Inc. now owns 572 shares of the financial services provider’s stock worth $34,000 after buying an additional 466 shares in the last quarter. Finally, Berman Capital Advisors LLC boosted its holdings in SunTrust Banks by 49.6% during the first quarter. Berman Capital Advisors LLC now owns 606 shares of the financial services provider’s stock worth $35,000 after buying an additional 201 shares in the last quarter. Institutional investors and hedge funds own 80.32% of the company’s stock.

Shares of NYSE STI traded up $0.27 on Thursday, hitting $60.62. The company’s stock had a trading volume of 8,175 shares, compared to its average volume of 2,777,374. SunTrust Banks, Inc. has a 12-month low of $46.05 and a 12-month high of $75.02. The company has a market capitalization of $27.24 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.98 and a quick ratio of 0.97. The stock has a 50 day moving average of $63.36 and a 200-day moving average of $63.07.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. SunTrust Banks had a net margin of 23.92% and a return on equity of 11.86%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Sell-side analysts expect that SunTrust Banks, Inc. will post 5.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.56 per share. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, August 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.70%. SunTrust Banks’s dividend payout ratio is presently 35.09%.

STI has been the topic of a number of research analyst reports. Argus set a $81.00 price objective on shares of SunTrust Banks and gave the stock a “buy” rating in a report on Friday, July 19th. ValuEngine raised shares of SunTrust Banks from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. SunTrust Banks currently has an average rating of “Hold” and a consensus target price of $69.45.

In related news, insider Ellen Koebler sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $60.84, for a total transaction of $243,360.00. Following the transaction, the insider now 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 this link. Also, Vice Chairman Mark A. Chancy sold 20,973 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $65.21, for a total transaction of $1,367,649.33. Following the transaction, the insider now directly owns 246,630 shares in the company, valued at approximately $16,082,742.30. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

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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