Cornerstone Capital Management Holdings LLC. Sells 218,822 Shares of SunTrust Banks, Inc. (STI)

Cornerstone Capital Management Holdings LLC. lowered its position in SunTrust Banks, Inc. (NYSE:STI) by 56.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,122 shares of the financial services provider’s stock after selling 218,822 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in SunTrust Banks were worth $9,928,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Chevy Chase Trust Holdings Inc. boosted its stake in shares of SunTrust Banks by 0.3% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 432,052 shares of the financial services provider’s stock worth $25,824,000 after acquiring an additional 1,256 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of SunTrust Banks by 89.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 141,001 shares of the financial services provider’s stock worth $8,428,000 after acquiring an additional 66,665 shares in the last quarter. Payden & Rygel bought a new stake in shares of SunTrust Banks during the 3rd quarter worth about $11,237,000. Asset Management One Co. Ltd. boosted its stake in shares of SunTrust Banks by 1.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 831,655 shares of the financial services provider’s stock worth $49,667,000 after acquiring an additional 15,431 shares in the last quarter. Finally, AMP Capital Investors Ltd boosted its stake in shares of SunTrust Banks by 8.1% during the 3rd quarter. AMP Capital Investors Ltd now owns 422,473 shares of the financial services provider’s stock worth $25,252,000 after acquiring an additional 31,509 shares in the last quarter. Hedge funds and other institutional investors own 80.83% of the company’s stock.

In other news, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

SunTrust Banks, Inc. (NYSE:STI) traded up $0.92 during trading on Wednesday, reaching $65.54. The company’s stock had a trading volume of 4,405,200 shares, compared to its average volume of 3,400,523. 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 firm has a market cap of $30,761.27, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29. SunTrust Banks, Inc. has a 12-month low of $51.96 and a 12-month high of $65.88.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 annualized dividend and a yield of 2.44%. SunTrust Banks’s dividend payout ratio (DPR) is 41.03%.

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods upgraded SunTrust Banks from a “market perform” rating to an “outperform” rating in a research note on Tuesday. UBS upgraded SunTrust Banks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $73.00 in a research note on Tuesday. Nomura upped their price target on SunTrust Banks from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Barclays upped their price target on SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Finally, Morgan Stanley boosted their price objective 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. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $64.58.

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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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