Bank of New York Mellon Corp Boosts Position in SunTrust Banks, Inc. (STI)

Bank of New York Mellon Corp increased its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 5.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,787,866 shares of the financial services provider’s stock after buying an additional 339,394 shares during the period. Bank of New York Mellon Corp’s holdings in SunTrust Banks were worth $438,428,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in shares of SunTrust Banks by 31.4% during the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock worth $435,947,000 after buying an additional 1,742,756 shares in the last quarter. Boston Partners grew its holdings in shares of SunTrust Banks by 3.2% during the fourth quarter. Boston Partners now owns 7,033,278 shares of the financial services provider’s stock worth $454,279,000 after buying an additional 221,043 shares in the last quarter. LSV Asset Management grew its holdings in shares of SunTrust Banks by 0.5% during the fourth quarter. LSV Asset Management now owns 6,367,422 shares of the financial services provider’s stock worth $411,271,000 after buying an additional 33,530 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of SunTrust Banks by 9.5% during the fourth quarter. Victory Capital Management Inc. now owns 6,359,543 shares of the financial services provider’s stock worth $410,764,000 after buying an additional 549,640 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of SunTrust Banks by 1.4% during the third quarter. Legal & General Group Plc now owns 2,469,748 shares of the financial services provider’s stock worth $147,618,000 after buying an additional 35,000 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

SunTrust Banks, Inc. (STI) opened at $71.15 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 0.93. SunTrust Banks, Inc. has a one year low of $51.96 and a one year high of $72.06. The company has a market capitalization of $33,870.00, a P/E ratio of 15.88, a PEG ratio of 1.12 and a beta of 1.37.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the company posted $0.90 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. research analysts anticipate that SunTrust Banks, Inc. will post 5.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. SunTrust Banks’s dividend payout ratio is currently 35.71%.

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

STI has been the subject of a number of research reports. UBS Group downgraded SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of SunTrust Banks in a report on Monday, October 23rd. Citigroup downgraded SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. They noted that the move was a valuation call. Sandler O’Neill downgraded SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research note on Monday, October 23rd. Finally, Raymond James Financial downgraded SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Fifteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $69.02.

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SunTrust Banks 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.

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

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