Bank of Stockton lifted its position in SunTrust Banks, Inc. (NYSE:STI) by 17.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,190 shares of the financial services provider’s stock after buying an additional 1,840 shares during the period. Bank of Stockton’s holdings in SunTrust Banks were worth $728,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of SunTrust Banks by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,947,441 shares of the financial services provider’s stock worth $1,868,780,000 after buying an additional 227,501 shares during the last quarter. FMR LLC grew its position in shares of SunTrust Banks by 4.3% in the 2nd quarter. FMR LLC now owns 29,614,981 shares of the financial services provider’s stock worth $1,679,761,000 after buying an additional 1,219,272 shares during the last quarter. Capital World Investors grew its position in shares of SunTrust Banks by 20.7% in the 2nd quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock worth $1,673,982,000 after buying an additional 5,056,000 shares during the last quarter. American Century Companies Inc. grew its position in shares of SunTrust Banks by 31.4% in the 3rd quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock worth $435,947,000 after buying an additional 1,742,756 shares during the last quarter. Finally, Boston Partners grew its position in shares of SunTrust Banks by 6.8% in the 3rd quarter. Boston Partners now owns 6,812,235 shares of the financial services provider’s stock worth $407,167,000 after buying an additional 433,042 shares during the last quarter. 82.32% of the stock is currently owned by hedge funds and other institutional investors.
STI has been the topic of several research analyst reports. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of SunTrust Banks in a research report on Sunday, July 23rd. UBS AG downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Monday, October 23rd. Morgan Stanley reissued an “underweight” rating and set a $63.00 target price (up previously from $62.00) on shares of SunTrust Banks in a research report on Tuesday, July 25th. Piper Jaffray Companies reissued a “buy” rating and set a $63.00 target price on shares of SunTrust Banks in a research report on Monday, August 28th. Finally, Sandler O’Neill downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research report on Monday, October 23rd. Nineteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. SunTrust Banks presently has an average rating of “Hold” and an average target price of $63.18.
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Shares of SunTrust Banks, Inc. (STI) traded up $0.54 during midday trading on Tuesday, reaching $57.33. 3,185,800 shares of the company traded hands, compared to its average volume of 3,372,443. The stock has a market cap of $27,290.00, a price-to-earnings ratio of 14.71, a PEG ratio of 1.53 and a beta of 1.29. 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 12 month low of $50.66 and a 12 month high of $61.69.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. research analysts predict that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
In related news, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by insiders.
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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