Nippon Life Global Investors Americas Inc. Has $10.69 Million Position in SunTrust Banks, Inc. (STI)

Nippon Life Global Investors Americas Inc. decreased its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 19.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,810 shares of the financial services provider’s stock after selling 42,910 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in SunTrust Banks were worth $10,687,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position 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 buying an additional 227,501 shares during the last quarter. FMR LLC boosted its position 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 buying an additional 1,219,272 shares during the last quarter. Capital World Investors boosted its position in SunTrust Banks by 20.7% in the second quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock worth $1,673,982,000 after purchasing an additional 5,056,000 shares during the last quarter. American Century Companies Inc. boosted its position in SunTrust Banks by 31.4% in the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock worth $435,947,000 after purchasing an additional 1,742,756 shares during the last quarter. Finally, Boston Partners boosted its position in SunTrust Banks by 6.8% in the third quarter. Boston Partners now owns 6,812,235 shares of the financial services provider’s stock worth $407,167,000 after purchasing an additional 433,042 shares during the last quarter. 80.82% of the stock is currently owned by institutional investors.

Shares of SunTrust Banks, Inc. (STI) traded up $0.34 on Monday, hitting $61.97. The company’s stock had a trading volume of 3,987,500 shares, compared to its average volume of 3,358,453. The company has a market capitalization of $29,499.78, a price-to-earnings ratio of 16.05, a PEG ratio of 1.67 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 52-week low of $51.81 and a 52-week high of $62.91.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.06. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. equities analysts forecast that SunTrust Banks, Inc. will post 4.06 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.58%. SunTrust Banks’s payout ratio is presently 41.03%.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Several research analysts have weighed in on the company. Nomura boosted their price objective on SunTrust Banks from $63.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, October 26th. Barclays boosted their price objective on SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Morgan Stanley boosted their price objective on SunTrust Banks from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Raymond James Financial cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Monday, October 23rd. Finally, Sandler O’Neill cut SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research report on Monday, October 23rd. Seventeen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $63.97.

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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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