Wealth Enhancement Advisory Services LLC Acquires Shares of 68,903 SunTrust Banks, Inc. (STI)

Wealth Enhancement Advisory Services LLC acquired a new stake in SunTrust Banks, Inc. (NYSE:STI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 68,903 shares of the financial services provider’s stock, valued at approximately $4,747,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors lifted its stake 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 valued at $1,673,982,000 after purchasing an additional 5,056,000 shares during the last quarter. Janus Henderson Group PLC lifted its stake in SunTrust Banks by 3,033.8% in the 2nd 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 during the last quarter. American Century Companies Inc. lifted its stake in SunTrust Banks by 31.4% in the 3rd 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 during the last quarter. FMR LLC lifted its stake in SunTrust Banks by 4.3% in the 2nd quarter. FMR LLC now owns 29,614,981 shares of the financial services provider’s stock valued at $1,679,761,000 after purchasing an additional 1,219,272 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in SunTrust Banks by 75.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,125,403 shares of the financial services provider’s stock valued at $120,553,000 after purchasing an additional 910,731 shares during the last quarter. Institutional investors own 80.71% of the company’s stock.

Shares of SunTrust Banks, Inc. (NYSE:STI) traded up $0.64 during mid-day trading on Friday, reaching $68.58. 5,101,510 shares of the company’s stock traded hands, compared to its average volume of 4,155,977. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market capitalization of $32,650.00, a P/E ratio of 17.58, a PEG ratio of 1.36 and a beta of 1.29. SunTrust Banks, Inc. has a 1 year low of $51.96 and a 1 year high of $69.56.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the business posted $0.90 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. research analysts forecast that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.

In other news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of SunTrust Banks stock in a transaction that occurred on 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. 0.55% of the stock is currently owned by insiders.

Several equities research analysts recently issued reports on the stock. Vining Sparks reiterated a “buy” rating and issued a $85.00 target price on shares of SunTrust Banks in a research note on Monday, January 8th. Morgan Stanley upgraded shares of SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 target price for the company in a research note on Monday, January 8th. Credit Suisse Group reiterated a “hold” rating and issued a $68.00 target price on shares of SunTrust Banks in a research note on Thursday, January 4th. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Friday, January 5th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $74.00 target price on shares of SunTrust Banks in a research note on Thursday, January 4th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $67.88.

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

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