SunTrust Banks, Inc. (STI) Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 58,578 shares of the financial services provider’s stock after purchasing an additional 2,677 shares during the quarter. CIBC Asset Management Inc’s holdings in SunTrust Banks were worth $3,784,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mountain Pacific Investment Advisers Inc. ID lifted its stake in shares of SunTrust Banks by 242.7% during the 3rd quarter. Mountain Pacific Investment Advisers Inc. ID now owns 23,017 shares of the financial services provider’s stock worth $1,376,000 after purchasing an additional 16,300 shares during the period. Whittier Trust Co. lifted its stake in shares of SunTrust Banks by 119.9% during the 3rd quarter. Whittier Trust Co. now owns 4,197 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 2,288 shares during the period. Highstreet Asset Management Inc. purchased a new position in shares of SunTrust Banks during the 3rd quarter worth $778,000. Commerce Bank lifted its stake in shares of SunTrust Banks by 293.8% during the 3rd quarter. Commerce Bank now owns 17,967 shares of the financial services provider’s stock worth $1,074,000 after purchasing an additional 13,405 shares during the period. Finally, Bank of Stockton lifted its stake in shares of SunTrust Banks by 17.8% during the 3rd quarter. Bank of Stockton now owns 12,190 shares of the financial services provider’s stock worth $728,000 after purchasing an additional 1,840 shares during the period. 81.82% of the stock is currently owned by institutional investors.

Shares of SunTrust Banks, Inc. (NYSE:STI) opened at $69.01 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $32,850.00, a PE ratio of 15.40, a PEG ratio of 1.24 and a beta of 1.37. SunTrust Banks, Inc. has a 52 week low of $51.96 and a 52 week high of $72.06.

SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.04. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. sell-side analysts predict that SunTrust Banks, Inc. will post 5.03 EPS for the current fiscal year.

In other news, EVP Jerome T. Lienhard sold 29,248 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total transaction of $508,037.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is owned by company insiders.

STI has been the topic of a number of recent analyst reports. Nomura increased their price target on SunTrust Banks from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Barclays upped their price objective on SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. Wedbush downgraded SunTrust Banks from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $71.00 to $63.00 in a report on Thursday, December 21st. They noted that the move was a valuation call. Keefe, Bruyette & Woods restated a “buy” rating and set a $77.00 price objective on shares of SunTrust Banks in a report on Friday, December 29th. Finally, FBR & Co restated a “hold” rating and set a $62.00 price objective on shares of SunTrust Banks in a report on Friday, October 20th. Fifteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $69.02.

TRADEMARK VIOLATION WARNING: This report was originally published by Community Financial News and is owned by of Community Financial News. If you are reading this report on another site, it was illegally stolen and republished in violation of United States and international copyright laws. The original version of this report can be read at https://www.com-unik.info/2018/02/08/suntrust-banks-inc-sti-holdings-lifted-by-cibc-asset-management-inc.html.

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.

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

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