SunTrust Banks, Inc. (STI) Shares Bought by Abner Herrman & Brock LLC

Abner Herrman & Brock LLC increased its holdings in SunTrust Banks, Inc. (NYSE:STI) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,804 shares of the financial services provider’s stock after purchasing an additional 1,580 shares during the period. SunTrust Banks accounts for 1.8% of Abner Herrman & Brock LLC’s holdings, making the stock its 21st biggest holding. Abner Herrman & Brock LLC’s holdings in SunTrust Banks were worth $10,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of STI. Capital World Investors raised its holdings in shares of SunTrust Banks by 20.7% during 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 acquiring an additional 5,056,000 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of SunTrust Banks by 3,033.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,006,553 shares of the financial services provider’s stock worth $113,812,000 after acquiring an additional 1,942,524 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of SunTrust Banks by 3,009.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,938,443 shares of the financial services provider’s stock worth $109,948,000 after acquiring an additional 1,876,101 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of SunTrust Banks by 31.4% during 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 acquiring an additional 1,742,756 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of SunTrust Banks by 70.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,534,925 shares of the financial services provider’s stock worth $200,501,000 after acquiring an additional 1,462,517 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

In other news, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction on Tuesday, November 7th. The stock was 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. 0.55% of the stock is currently owned by corporate insiders.

Shares of SunTrust Banks, Inc. (NYSE STI) traded up $0.18 during trading on Friday, reaching $65.86. The company’s stock had a trading volume of 5,825,600 shares, compared to its average volume of 4,601,800. SunTrust Banks, Inc. has a 12 month low of $51.96 and a 12 month high of $67.02. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. The company has a market cap of $31,280.00, a P/E ratio of 16.89, a PEG ratio of 1.58 and a beta of 1.29.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The business 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. The business’s revenue was up 3.7% compared to the same quarter last year. equities analysts anticipate that SunTrust Banks, Inc. will post 4.07 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Wednesday, November 29th. SunTrust Banks’s payout ratio is 41.03%.

Several research firms recently weighed in on STI. Credit Suisse Group upgraded SunTrust Banks from an “underperform” rating to a “neutral” rating and increased their price target for the company from $56.00 to $60.00 in a report on Monday, October 9th. Barclays increased their price target on SunTrust Banks from $68.00 to $77.00 and gave the company an “equal weight” rating in a report on Tuesday. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Tuesday, December 26th. Raymond James Financial lowered SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Finally, Wedbush lowered SunTrust Banks from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $71.00 to $63.00 in a report on Thursday, December 21st. They noted that the move was a valuation call. Fifteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.55.

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

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