Russell Investments Group Ltd. increased its holdings in SunTrust Banks, Inc. (NYSE:STI) by 30.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 605,007 shares of the financial services provider’s stock after buying an additional 142,946 shares during the period. Russell Investments Group Ltd. owned 0.13% of SunTrust Banks worth $36,160,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Capital World Investors raised its position in SunTrust Banks by 20.7% in 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 purchasing an additional 5,056,000 shares during the period. Janus Henderson Group PLC boosted its stake in SunTrust Banks by 3,033.8% during the second 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 boosted its stake in SunTrust Banks by 3,009.4% during the second 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. boosted its stake in 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 worth $435,947,000 after acquiring an additional 1,742,756 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in SunTrust Banks by 70.6% during the second 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. 80.82% of the stock is owned by hedge funds and other institutional investors.
STI has been the subject of several recent analyst reports. UBS cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Piper Jaffray Companies reissued a “buy” rating and set a $63.00 price objective on shares of SunTrust Banks in a report on Monday, August 28th. Sandler O’Neill cut shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a report on Monday, October 23rd. Raymond James Financial cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Finally, Instinet reiterated a “neutral” rating and issued a $63.00 price target (up from $62.00) on shares of SunTrust Banks in a research report on Saturday, September 30th. Seventeen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $63.97.
In other news, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were 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. Insiders own 0.55% of the company’s stock.
SunTrust Banks, Inc. (STI) traded up $0.32 during trading hours on Thursday, hitting $64.76. 4,489,924 shares of the stock traded hands, compared to its average volume of 3,391,437. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market cap of $30,480.41, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29. SunTrust Banks, Inc. has a 52-week low of $51.96 and a 52-week high of $65.36.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. equities research analysts forecast that SunTrust Banks, Inc. will post 4.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.47%. The ex-dividend date is Wednesday, November 29th. SunTrust Banks’s payout ratio is presently 41.03%.
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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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