Livforsakringsbolaget Skandia Omsesidigt decreased its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,371 shares of the financial services provider’s stock after selling 3,200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in SunTrust Banks were worth $1,574,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its position in SunTrust Banks by 0.9% during the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 20 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in SunTrust Banks during the second quarter valued at $136,000. Tiedemann Wealth Management LLC raised its holdings in SunTrust Banks by 12.1% during the third quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock valued at $142,000 after buying an additional 2,920 shares in the last quarter. Dupont Capital Management Corp raised its holdings in SunTrust Banks by 55.2% during the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after buying an additional 933 shares in the last quarter. Finally, Blue Granite Capital LLC bought a new position in SunTrust Banks during the third quarter valued at about $177,000. 80.71% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total value of $240,240.00. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
SunTrust Banks, Inc. (STI) opened at $68.58 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market capitalization of $32,650.00, a PE ratio of 17.58, a PEG ratio of 1.36 and a beta of 1.29. SunTrust Banks, Inc. has a 12 month low of $51.96 and a 12 month high of $69.56.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. research analysts predict that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
Several equities analysts have weighed in on STI shares. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, October 10th. Piper Jaffray Companies restated a “buy” rating and set a $63.00 target price on shares of SunTrust Banks in a report on Wednesday, October 4th. Jefferies Group restated a “buy” rating and set a $69.00 target price on shares of SunTrust Banks in a report on Thursday, October 12th. Royal Bank of Canada restated a “buy” rating and set a $65.00 target price on shares of SunTrust Banks in a report on Monday, October 23rd. Finally, UBS Group upgraded SunTrust Banks from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $73.00 in a report on Tuesday, December 12th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $67.88.
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About SunTrust Banks
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.
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