Catalyst Capital Advisors LLC Boosts Stake in SunTrust Banks, Inc. (STI)

Catalyst Capital Advisors LLC grew its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 5.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 235,000 shares of the financial services provider’s stock after acquiring an additional 11,940 shares during the quarter. SunTrust Banks comprises approximately 0.6% of Catalyst Capital Advisors LLC’s holdings, making the stock its 20th largest holding. Catalyst Capital Advisors LLC’s holdings in SunTrust Banks were worth $14,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fiduciary Trust Co. bought a new position in shares of SunTrust Banks during the 2nd quarter valued at approximately $118,000. Advisory Services Network LLC lifted its position in SunTrust Banks by 0.9% in the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after buying an additional 20 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in SunTrust Banks in the second quarter worth $136,000. Dupont Capital Management Corp lifted its position in SunTrust Banks by 55.2% in the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after buying an additional 933 shares during the last quarter. Finally, Huntington National Bank lifted its position in SunTrust Banks by 2.9% in the second quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock worth $159,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

A number of analysts have weighed in on the company. Credit Suisse Group upgraded SunTrust Banks from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $56.00 to $60.00 in a research note on Monday, October 9th. Citigroup Inc. reiterated a “neutral” rating and issued a $63.00 target price (up previously from $60.00) on shares of SunTrust Banks in a research note on Monday, October 9th. Zacks Investment Research lowered SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. UBS AG restated a “neutral” rating and set a $62.00 price target (up previously from $61.00) on shares of SunTrust Banks in a research note on Friday, October 6th. Finally, FBR & Co lowered SunTrust Banks from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research note on Tuesday, October 10th. Eighteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $63.18.

Shares of SunTrust Banks, Inc. (STI) traded up $0.05 during midday trading on Monday, reaching $57.77. The company’s stock had a trading volume of 2,471,600 shares, compared to its average volume of 3,363,005. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. SunTrust Banks, Inc. has a 12 month low of $51.06 and a 12 month high of $61.69. The stock has a market cap of $27,500.00, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29.

SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. analysts anticipate that SunTrust Banks, Inc. will post 4.06 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.77%. SunTrust Banks’s dividend payout ratio is presently 41.03%.

In related news, Director Kyle P. Legg sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.55% of the company’s stock.

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SunTrust Banks Company Profile

SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.

Institutional Ownership by Quarter for SunTrust Banks (NYSE:STI)

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