Delta Asset Management LLC TN Has $18.65 Million Holdings in SunTrust Banks, Inc. (STI)

Delta Asset Management LLC TN decreased its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 0.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 311,960 shares of the financial services provider’s stock after selling 934 shares during the period. SunTrust Banks accounts for 2.8% of Delta Asset Management LLC TN’s portfolio, making the stock its 14th largest position. Delta Asset Management LLC TN owned approximately 0.06% of SunTrust Banks worth $18,646,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of SunTrust Banks by 0.7% during the second quarter. Vanguard Group Inc. now owns 32,947,441 shares of the financial services provider’s stock valued at $1,868,780,000 after purchasing an additional 227,501 shares in the last quarter. FMR LLC increased its stake in shares of SunTrust Banks by 4.3% during the second quarter. FMR LLC now owns 29,614,981 shares of the financial services provider’s stock valued at $1,679,761,000 after purchasing an additional 1,219,272 shares in the last quarter. Capital World Investors increased its stake in shares of SunTrust Banks by 20.7% during the second quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock valued at $1,673,982,000 after purchasing an additional 5,056,000 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of SunTrust Banks by 8.6% during the first quarter. AQR Capital Management LLC now owns 8,758,128 shares of the financial services provider’s stock valued at $484,324,000 after purchasing an additional 694,144 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of SunTrust Banks by 4.3% during the second quarter. Victory Capital Management Inc. now owns 5,676,079 shares of the financial services provider’s stock valued at $321,947,000 after purchasing an additional 232,350 shares in the last quarter. 82.28% of the stock is owned by institutional investors and hedge funds.

Shares of SunTrust Banks, Inc. (NYSE:STI) traded down 0.94% on Monday, hitting $60.05. 840,389 shares of the stock traded hands. The company has a market cap of $28.92 billion, a PE ratio of 15.97 and a beta of 1.31. The stock has a 50 day moving average of $58.35 and a 200 day moving average of $56.63. SunTrust Banks, Inc. has a one year low of $44.45 and a one year high of $61.69.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that SunTrust Banks, Inc. will post $4.06 earnings per share for the current year.

A number of brokerages have weighed in on STI. Nomura raised their target price on shares of SunTrust Banks from $63.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday. UBS AG downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Citigroup Inc. downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Raymond James Financial, Inc. downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Finally, Wells Fargo & Company began coverage on shares of SunTrust Banks in a research note on Wednesday, August 9th. They set an “outperform” rating and a $70.00 target price for the company. Nineteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.18.

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In related news, insider Susan S. Johnson sold 808 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $57.34, for a total transaction of $46,330.72. Following the sale, the insider now directly owns 3,515 shares of the company’s stock, valued at $201,550.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

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.

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

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