Pennsylvania Trust Co increased its holdings in SunTrust Banks, Inc. (NYSE:STI) by 43.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,974 shares of the financial services provider’s stock after purchasing an additional 27,622 shares during the quarter. Pennsylvania Trust Co’s holdings in SunTrust Banks were worth $5,876,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Mountain Pacific Investment Advisers Inc. ID grew its stake in shares of SunTrust Banks by 242.7% in the third quarter. Mountain Pacific Investment Advisers Inc. ID now owns 23,017 shares of the financial services provider’s stock worth $1,376,000 after purchasing an additional 16,300 shares during the last quarter. Whittier Trust Co. grew its stake in shares of SunTrust Banks by 119.9% in the third quarter. Whittier Trust Co. now owns 4,197 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 2,288 shares during the last quarter. Highstreet Asset Management Inc. bought a new stake in shares of SunTrust Banks in the third quarter worth $778,000. Commerce Bank grew its stake in shares of SunTrust Banks by 293.8% in the third quarter. Commerce Bank now owns 17,967 shares of the financial services provider’s stock worth $1,074,000 after purchasing an additional 13,405 shares during the last quarter. Finally, Bank of Stockton boosted its position in SunTrust Banks by 17.8% during the third quarter. Bank of Stockton now owns 12,190 shares of the financial services provider’s stock valued at $728,000 after acquiring an additional 1,840 shares during the last quarter. 80.71% of the stock is currently owned by institutional investors.
In other news, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kyle P. Legg sold 3,300 shares of the company’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 disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.
A number of analysts have commented on STI shares. Credit Suisse Group raised shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and upped their price target for the company from $56.00 to $60.00 in a research report on Monday, October 9th. Barclays upped their price target on shares of SunTrust Banks from $68.00 to $77.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Morgan Stanley raised shares of SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price target on the stock in a research report on Monday, January 8th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Tuesday, December 26th. Finally, Raymond James Financial cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Monday, October 23rd. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $67.88.
SunTrust Banks, Inc. (NYSE:STI) opened at $68.30 on Wednesday. SunTrust Banks, Inc. has a fifty-two week low of $51.96 and a fifty-two week high of $69.56. The firm has a market cap of $32,793.93, a PE ratio of 17.85, a PEG ratio of 1.37 and a beta of 1.29. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. sell-side analysts forecast that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
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About SunTrust Banks
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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