Tokio Marine Asset Management Co. Ltd. decreased its holdings in SunTrust Banks, Inc. (NYSE:STI) by 23.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,573 shares of the financial services provider’s stock after selling 1,387 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in SunTrust Banks were worth $273,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of STI. Gotham Asset Management LLC raised its stake in SunTrust Banks by 53.1% in the 1st quarter. Gotham Asset Management LLC now owns 8,142 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 2,824 shares in the last quarter. Janus Capital Management LLC raised its stake in SunTrust Banks by 229.6% in the 1st quarter. Janus Capital Management LLC now owns 1,467,404 shares of the financial services provider’s stock worth $81,147,000 after purchasing an additional 1,022,200 shares in the last quarter. Bank of Nova Scotia increased its holdings in SunTrust Banks by 905.1% in the 1st quarter. Bank of Nova Scotia now owns 112,402 shares of the financial services provider’s stock valued at $6,216,000 after buying an additional 101,219 shares during the period. Achmea Investment Management B.V. bought a new position in SunTrust Banks in the 1st quarter valued at about $2,329,000. Finally, Ballentine Partners LLC bought a new position in SunTrust Banks in the 1st quarter valued at about $275,000. Institutional investors and hedge funds own 82.32% of the company’s stock.
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SunTrust Banks, Inc. (STI) opened at $60.40 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94. SunTrust Banks, Inc. has a 1 year low of $44.49 and a 1 year high of $61.69. The stock has a market cap of $28,752.41, a price-to-earnings ratio of 15.65, a P/E/G ratio of 1.63 and a beta of 1.29.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, meeting 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 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 previous year, the company earned $0.91 EPS. SunTrust Banks’s quarterly revenue was up 3.7% compared to the same quarter last year. research analysts expect that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.
In related news, insider Susan S. Johnson sold 808 shares of the business’s 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 transaction, the insider now owns 3,515 shares in the company, valued at approximately $201,550.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is owned by insiders.
STI has been the topic of several recent analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 target price on shares of SunTrust Banks in a report on Thursday, July 27th. Piper Jaffray Companies reissued a “buy” rating and issued a $63.00 target price on shares of SunTrust Banks in a report on Monday, August 28th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Friday, September 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $69.00 target price on shares of SunTrust Banks in a report on Thursday, October 12th. Finally, Morgan Stanley raised shares of SunTrust Banks from an “underweight” rating to an “equal weight” rating and set a $63.00 target price on the stock in a report on Thursday, August 3rd. Nineteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $63.18.
About SunTrust Banks
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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