Russell Investments Group Ltd. grew its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 30.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 605,007 shares of the financial services provider’s stock after acquiring an additional 142,946 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of SunTrust Banks worth $36,160,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Fiduciary Trust Co. bought a new stake in shares of SunTrust Banks during the 2nd quarter valued at about $118,000. Advisory Services Network LLC boosted its position in shares of SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 20 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of SunTrust Banks during the 2nd quarter valued at about $136,000. Dupont Capital Management Corp boosted its position in shares of SunTrust Banks by 55.2% during the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 933 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of SunTrust Banks by 2.9% during the 2nd quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
In related news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.55% of the company’s stock.
SunTrust Banks, Inc. (NYSE:STI) opened at $57.73 on Wednesday. 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 12 month low of $51.13 and a 12 month high of $61.69. The stock has a market capitalization of $27,690.85, a P/E ratio of 15.07, a PEG ratio of 1.57 and a beta of 1.29.
SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. sell-side analysts anticipate that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.77%. SunTrust Banks’s dividend payout ratio is presently 41.03%.
A number of research firms recently weighed in on STI. Sandler O’Neill downgraded SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research report on Monday, October 23rd. Piper Jaffray Companies restated a “buy” rating and issued a $63.00 target price on shares of SunTrust Banks in a research report on Monday, August 28th. Zacks Investment Research downgraded SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Barclays PLC boosted their target price 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. Finally, Morgan Stanley boosted their target price 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. Eighteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. SunTrust Banks has a consensus rating of “Hold” and an average price target of $63.18.
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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.
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