Livforsakringsbolaget Skandia Omsesidigt Sells 3,200 Shares of SunTrust Banks, Inc. (STI)

Livforsakringsbolaget Skandia Omsesidigt trimmed its stake in SunTrust Banks, Inc. (NYSE:STI) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,371 shares of the financial services provider’s stock after selling 3,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in SunTrust Banks were worth $1,574,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of STI. Schwab Charles Investment Management Inc. lifted its stake in shares of SunTrust Banks by 3.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,658,745 shares of the financial services provider’s stock valued at $107,139,000 after buying an additional 51,904 shares in the last quarter. National Pension Service lifted its stake in shares of SunTrust Banks by 0.8% in the fourth quarter. National Pension Service now owns 479,977 shares of the financial services provider’s stock valued at $31,002,000 after buying an additional 3,705 shares in the last quarter. RNC Capital Management LLC lifted its stake in shares of SunTrust Banks by 14.8% in the fourth quarter. RNC Capital Management LLC now owns 393,237 shares of the financial services provider’s stock valued at $25,399,000 after buying an additional 50,651 shares in the last quarter. Whalerock Point Partners LLC lifted its stake in shares of SunTrust Banks by 124.9% in the fourth quarter. Whalerock Point Partners LLC now owns 14,675 shares of the financial services provider’s stock valued at $948,000 after buying an additional 8,150 shares in the last quarter. Finally, Pennsylvania Trust Co lifted its stake in shares of SunTrust Banks by 43.6% in the fourth quarter. Pennsylvania Trust Co now owns 90,974 shares of the financial services provider’s stock valued at $5,876,000 after buying an additional 27,622 shares in the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

SunTrust Banks, Inc. (STI) traded up $1.68 on Friday, hitting $67.48. 4,547,486 shares of the stock traded hands, compared to its average volume of 3,900,000. The stock has a market capitalization of $32,120.00, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 1.26 and a beta of 1.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.92. SunTrust Banks, Inc. has a 52-week low of $51.96 and a 52-week high of $72.06.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.05 by $0.04. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. SunTrust Banks’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. research analysts expect that SunTrust Banks, Inc. will post 5.04 earnings per share for the current year.

In related news, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total transaction of $240,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jerome T. Lienhard sold 29,248 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total transaction of $508,037.76. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

A number of research analysts recently weighed in on STI shares. Sandler O’Neill lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a research report on Monday, October 23rd. Keefe, Bruyette & Woods raised shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 12th. Wedbush lowered shares of SunTrust Banks from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $71.00 to $63.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. UBS Group raised shares of SunTrust Banks from a “neutral” rating to a “buy” rating and raised their price target for the company from $62.00 to $73.00 in a research report on Tuesday, December 12th. Finally, Morgan Stanley raised shares of SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price target on the stock in a research report on Monday, January 8th. Fifteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $69.02.

TRADEMARK VIOLATION WARNING: “Livforsakringsbolaget Skandia Omsesidigt Sells 3,200 Shares of SunTrust Banks, Inc. (STI)” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international trademark and copyright law. The original version of this piece of content can be read at https://ledgergazette.com/2018/02/12/livforsakringsbolaget-skandia-omsesidigt-trims-position-in-suntrust-banks-inc-sti.html.

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.

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

Receive News & Ratings for SunTrust Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply