ProShare Advisors LLC Reduces Position in SunTrust Banks, Inc. (STI)

ProShare Advisors LLC lowered its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 8.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 139,442 shares of the financial services provider’s stock after selling 13,165 shares during the period. ProShare Advisors LLC’s holdings in SunTrust Banks were worth $6,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Profund Advisors LLC increased its position in SunTrust Banks by 13.5% in the third quarter. Profund Advisors LLC now owns 18,529 shares of the financial services provider’s stock worth $812,000 after buying an additional 2,210 shares during the period. Brandes Investment Partners LP increased its position in SunTrust Banks by 0.3% in the third quarter. Brandes Investment Partners LP now owns 45,421 shares of the financial services provider’s stock worth $1,989,000 after buying an additional 120 shares during the period. Morgan Stanley increased its position in SunTrust Banks by 200.5% in the third quarter. Morgan Stanley now owns 1,944,915 shares of the financial services provider’s stock worth $85,188,000 after buying an additional 1,297,734 shares during the period. Nicholas Hoffman & Company LLC. increased its position in SunTrust Banks by 1.5% in the third quarter. Nicholas Hoffman & Company LLC. now owns 58,347 shares of the financial services provider’s stock worth $2,556,000 after buying an additional 835 shares during the period. Finally, Riverhead Capital Management LLC increased its position in SunTrust Banks by 2,561.3% in the third quarter. Riverhead Capital Management LLC now owns 116,803 shares of the financial services provider’s stock worth $5,116,000 after buying an additional 112,414 shares during the period. 81.00% of the stock is currently owned by institutional investors and hedge funds.

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

SunTrust Banks, Inc. (NYSE:STI) traded down 0.05% during trading on Wednesday, reaching $55.67. 1,077,482 shares of the company’s stock were exchanged. SunTrust Banks, Inc. has a 52 week low of $31.07 and a 52 week high of $56.48. The firm has a market capitalization of $27.61 billion, a price-to-earnings ratio of 15.42 and a beta of 1.39. The stock has a 50-day moving average price of $54.42 and a 200 day moving average price of $46.57.

SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, October 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.15 billion. SunTrust Banks had a net margin of 21.12% and a return on equity of 8.18%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share. Equities research analysts forecast that SunTrust Banks, Inc. will post $3.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.87%. SunTrust Banks’s dividend payout ratio (DPR) is presently 28.89%.

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A number of brokerages have recently issued reports on STI. RBC Capital Markets reaffirmed a “buy” rating and issued a $60.00 price objective on shares of SunTrust Banks in a research report on Wednesday, January 4th. Barclays PLC lifted their price objective on shares of SunTrust Banks from $49.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Saturday, December 31st. Deutsche Bank AG lifted their price objective on shares of SunTrust Banks from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, November 30th. Finally, Wedbush lifted their price objective on shares of SunTrust Banks from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 30th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $48.26.

In other news, SVP Thomas E. Panther sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $51.69, for a total transaction of $62,028.00. Following the transaction, the senior vice president now directly owns 19,122 shares in the company, valued at $988,416.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Thomas E. Panther sold 959 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $44.75, for a total transaction of $42,915.25. Following the transaction, the senior vice president now owns 20,322 shares in the company, valued at $909,409.50. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

SunTrust Banks Company Profile

SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.

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