Quantbot Technologies LP Acquires Shares of 8,692 SunTrust Banks, Inc. (STI)

Quantbot Technologies LP acquired a new position in shares of SunTrust Banks, Inc. (NYSE:STI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,692 shares of the financial services provider’s stock, valued at approximately $580,000.

Several other institutional investors and hedge funds have also modified their holdings of STI. Cornerstone Wealth Management LLC bought a new position in shares of SunTrust Banks in the 2nd quarter worth $164,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of SunTrust Banks by 8,334.4% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,699 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 2,667 shares in the last quarter. Smith Asset Management Group LP lifted its holdings in shares of SunTrust Banks by 4.7% in the 2nd quarter. Smith Asset Management Group LP now owns 422,898 shares of the financial services provider’s stock worth $28,001,000 after purchasing an additional 18,908 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of SunTrust Banks in the 2nd quarter worth $2,314,000. Finally, D.A. Davidson & CO. bought a new position in shares of SunTrust Banks in the 2nd quarter worth $236,000. 82.80% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:STI opened at $56.94 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. SunTrust Banks, Inc. has a 1-year low of $56.58 and a 1-year high of $75.08. The firm has a market cap of $26.26 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 0.96 and a beta of 1.25.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, October 19th. The financial services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.17. SunTrust Banks had a return on equity of 11.66% and a net margin of 28.17%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the business earned $1.06 EPS. The business’s revenue was down .8% on a year-over-year basis. As a group, sell-side analysts forecast that SunTrust Banks, Inc. will post 5.61 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.51%. The ex-dividend date is Thursday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is presently 49.50%.

A number of equities analysts recently issued reports on STI shares. Edward Jones started coverage on SunTrust Banks in a report on Tuesday, August 28th. They issued a “hold” rating on the stock. Wedbush set a $75.00 target price on SunTrust Banks and gave the stock a “hold” rating in a report on Thursday, September 13th. B. Riley set a $79.00 target price on SunTrust Banks and gave the stock a “buy” rating in a report on Monday, October 15th. Piper Jaffray Companies cut SunTrust Banks from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $76.00 to $74.00 in a report on Thursday, September 13th. Finally, BMO Capital Markets cut their target price on SunTrust Banks from $74.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. SunTrust Banks has an average rating of “Hold” and an average target price of $76.73.

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About SunTrust Banks

SunTrust Banks, Inc is a bank and financial holding company that engages in the provision of financial services. It offers deposit, credit, mortgage banking, trust and investment, asset management, securities brokerage, and capital market services. It operates through the following segments: Consumer, Wholesale, and Corporate Other.

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

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