Glenmede Trust Co. NA grew its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 212.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 526,669 shares of the financial services provider’s stock after purchasing an additional 358,354 shares during the period. Glenmede Trust Co. NA owned approximately 0.11% of SunTrust Banks worth $34,016,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STI. Russell Investments Group Ltd. increased its position in SunTrust Banks by 30.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 605,007 shares of the financial services provider’s stock worth $36,160,000 after purchasing an additional 142,946 shares during the period. Commerce Bank increased its position in SunTrust Banks by 293.8% during the 3rd quarter. Commerce Bank now owns 17,967 shares of the financial services provider’s stock worth $1,074,000 after purchasing an additional 13,405 shares during the period. Macquarie Group Ltd. increased its position in SunTrust Banks by 1.1% during the 3rd quarter. Macquarie Group Ltd. now owns 247,982 shares of the financial services provider’s stock worth $14,822,000 after purchasing an additional 2,700 shares during the period. Stephens Inc. AR increased its position in SunTrust Banks by 3.0% during the 3rd quarter. Stephens Inc. AR now owns 74,500 shares of the financial services provider’s stock worth $4,453,000 after purchasing an additional 2,154 shares during the period. Finally, Catalyst Capital Advisors LLC increased its position in SunTrust Banks by 5.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 235,000 shares of the financial services provider’s stock worth $14,046,000 after purchasing an additional 11,940 shares during the period. Institutional investors own 83.59% of the company’s stock.
In other SunTrust Banks news, EVP Jerome T. Lienhard sold 29,248 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total transaction of $508,037.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Mark A. Chancy sold 7,500 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $70.13, for a total value of $525,975.00. Following the transaction, the insider now directly owns 149,955 shares in the company, valued at approximately $10,516,344.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,348 shares of company stock worth $1,289,757. Corporate insiders own 0.52% of the company’s stock.
STI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upgraded SunTrust Banks from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 12th. Wedbush cut SunTrust Banks from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $71.00 to $63.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. UBS upgraded SunTrust Banks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $73.00 in a report on Tuesday, December 12th. Morgan Stanley upgraded SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price target on the stock in a report on Monday, January 8th. Finally, Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Tuesday, December 26th. Sixteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $69.25.
Shares of SunTrust Banks, Inc. (NYSE STI) opened at $71.05 on Tuesday. SunTrust Banks, Inc. has a 52 week low of $51.96 and a 52 week high of $73.37. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $33,497.51, a P/E ratio of 17.66, a P/E/G ratio of 1.14 and a beta of 1.33.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the company earned $0.90 EPS. SunTrust Banks’s revenue was up 5.1% on a year-over-year basis. equities analysts forecast that SunTrust Banks, Inc. will post 5.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Tuesday, February 27th. SunTrust Banks’s dividend payout ratio is presently 35.71%.
WARNING: This piece was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://ledgergazette.com/2018/03/20/suntrust-banks-inc-sti-holdings-boosted-by-glenmede-trust-co-na.html.
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.
Want to see what other hedge funds are holding STI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunTrust Banks, Inc. (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.