SunTrust Banks, Inc. (STI) Shares Sold by Comerica Bank

Comerica Bank lessened its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 11.0% in the 4th quarter, HoldingsChannel reports. The fund owned 127,850 shares of the financial services provider’s stock after selling 15,856 shares during the period. Comerica Bank’s holdings in SunTrust Banks were worth $9,103,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in shares of SunTrust Banks by 31.4% during the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock valued at $435,947,000 after acquiring an additional 1,742,756 shares in the last quarter. Boston Partners raised its stake in shares of SunTrust Banks by 3.2% during the fourth quarter. Boston Partners now owns 7,033,278 shares of the financial services provider’s stock valued at $454,279,000 after acquiring an additional 221,043 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of SunTrust Banks by 7.3% during the third quarter. Bank of New York Mellon Corp now owns 6,448,472 shares of the financial services provider’s stock valued at $385,427,000 after acquiring an additional 437,387 shares in the last quarter. LSV Asset Management raised its stake in shares of SunTrust Banks by 0.5% during the fourth quarter. LSV Asset Management now owns 6,367,422 shares of the financial services provider’s stock valued at $411,271,000 after acquiring an additional 33,530 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of SunTrust Banks by 9.5% during the fourth quarter. Victory Capital Management Inc. now owns 6,359,543 shares of the financial services provider’s stock valued at $410,764,000 after acquiring an additional 549,640 shares in the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.

SunTrust Banks, Inc. (NYSE:STI) opened at $69.01 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43. SunTrust Banks, Inc. has a 1-year low of $51.96 and a 1-year high of $72.06. The stock has a market cap of $32,850.00, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.24 and a beta of 1.37.

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

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

Several analysts have recently weighed in on STI shares. Barclays lifted their price target on shares of SunTrust Banks from $68.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. B. Riley reaffirmed a “hold” rating and set a $70.00 price target on shares of SunTrust Banks in a research note on Monday, January 22nd. Morgan Stanley raised shares of SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price target for the company in a research note on Monday, January 8th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Tuesday, December 26th. Finally, Raymond James Financial downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Fifteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. SunTrust Banks currently has a consensus rating of “Hold” and an average target price of $69.02.

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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.

Want to see what other hedge funds are holding STI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunTrust Banks, Inc. (NYSE:STI).

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

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