27,176 Shares in SunTrust Banks, Inc. (STI) Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP acquired a new stake in shares of SunTrust Banks, Inc. (NYSE:STI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 27,176 shares of the financial services provider’s stock, valued at approximately $1,624,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of STI. Capital World Investors lifted its holdings in SunTrust Banks by 20.7% during the second quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock valued at $1,673,982,000 after purchasing an additional 5,056,000 shares in the last quarter. Janus Henderson Group PLC lifted its holdings 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 valued at $113,812,000 after purchasing an additional 1,942,524 shares in the last quarter. Lazard Asset Management LLC lifted its holdings 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 valued at $109,948,000 after purchasing an additional 1,876,101 shares in the last quarter. American Century Companies Inc. lifted its holdings 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 valued at $435,947,000 after purchasing an additional 1,742,756 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings 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 valued at $200,501,000 after purchasing an additional 1,462,517 shares in the last quarter. 80.83% of the stock is currently owned by institutional investors and hedge funds.

In related news, Vice Chairman Mark A. Chancy sold 4,000 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kyle P. Legg sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

Several research firms have issued reports on STI. UBS downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Piper Jaffray Companies reaffirmed 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 downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a report on Monday, October 23rd. Raymond James Financial downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Finally, FBR & Co downgraded shares of SunTrust Banks from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a report on Tuesday, October 10th. Seventeen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $63.97.

Shares of SunTrust Banks, Inc. (STI) traded down $0.66 during midday trading on Monday, hitting $64.54. 2,385,025 shares of the stock were exchanged, compared to its average volume of 3,387,955. The firm has a market capitalization of $30,770.00, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93. SunTrust Banks, Inc. has a 1-year low of $51.96 and a 1-year high of $65.36.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.06. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. equities research analysts expect that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.

The company also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 2.48%. The ex-dividend date is Wednesday, November 29th. SunTrust Banks’s payout ratio is currently 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.

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

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