Andra AP fonden increased its holdings in SunTrust Banks, Inc. (NYSE:STI) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,000 shares of the financial services provider’s stock after acquiring an additional 6,500 shares during the quarter. Andra AP fonden’s holdings in SunTrust Banks were worth $5,140,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Fiduciary Trust Co. purchased a new stake in SunTrust Banks in the second quarter worth about $118,000. Advisory Services Network LLC lifted its stake in SunTrust Banks by 0.9% in the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 20 shares during the period. Westwood Holdings Group Inc. purchased a new stake in SunTrust Banks in the second quarter worth about $136,000. Independent Portfolio Consultants Inc. lifted its stake in SunTrust Banks by 184.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,648 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 1,718 shares during the period. Finally, Huntington National Bank lifted its stake in SunTrust Banks by 2.9% in the second quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 80 shares during the period. 82.32% of the stock is owned by institutional investors.
In other SunTrust Banks news, insider Susan S. Johnson sold 808 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $57.34, for a total value of $46,330.72. Following the sale, the insider now owns 3,515 shares in the company, valued at approximately $201,550.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.
A number of equities analysts have commented on the stock. Nomura boosted their target price on shares of SunTrust Banks from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, September 28th. Wells Fargo & Company assumed coverage on shares of SunTrust Banks in a report on Wednesday, August 9th. They issued an “outperform” rating and a $70.00 target price for the company. Robert W. Baird reiterated a “hold” rating and issued a $55.00 target price on shares of SunTrust Banks in a report on Sunday, October 1st. UBS AG downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Finally, Morgan Stanley upgraded shares of SunTrust Banks from an “underweight” rating to an “equal weight” rating and set a $63.00 target price for the company in a report on Thursday, August 3rd. Nineteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $63.18.
SunTrust Banks, Inc. (NYSE:STI) opened at $60.40 on Monday. SunTrust Banks, Inc. has a fifty-two week low of $44.49 and a fifty-two week high of $61.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market cap of $28,752.41, a P/E ratio of 15.65, a P/E/G ratio of 1.63 and a beta of 1.29.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the company earned $0.91 EPS. SunTrust Banks’s quarterly revenue was up 3.7% on a year-over-year basis. analysts expect that SunTrust Banks, Inc. will post 4.06 earnings per share for the current year.
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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