United Services Automobile Association lifted its holdings in SunTrust Banks, Inc. (NYSE:STI) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 236,580 shares of the financial services provider’s stock after purchasing an additional 11,622 shares during the quarter. United Services Automobile Association owned 0.05% of SunTrust Banks worth $15,801,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in STI. LSV Asset Management increased its holdings in SunTrust Banks by 0.3% during the second quarter. LSV Asset Management now owns 6,471,822 shares of the financial services provider’s stock worth $427,269,000 after buying an additional 21,800 shares during the last quarter. Boston Partners increased its holdings in SunTrust Banks by 1.3% during the second quarter. Boston Partners now owns 5,449,455 shares of the financial services provider’s stock worth $359,773,000 after buying an additional 71,355 shares during the last quarter. Northern Trust Corp increased its holdings in SunTrust Banks by 1.7% during the second quarter. Northern Trust Corp now owns 5,163,571 shares of the financial services provider’s stock worth $340,899,000 after buying an additional 87,873 shares during the last quarter. Bank of Montreal Can increased its holdings in SunTrust Banks by 6.5% during the third quarter. Bank of Montreal Can now owns 4,387,551 shares of the financial services provider’s stock worth $293,045,000 after buying an additional 269,665 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in SunTrust Banks by 2.1% during the third quarter. Alliancebernstein L.P. now owns 4,254,532 shares of the financial services provider’s stock worth $284,160,000 after buying an additional 87,486 shares during the last quarter. 82.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of STI opened at $58.24 on Friday. SunTrust Banks, Inc. has a 12-month low of $56.58 and a 12-month high of $75.08. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $26.36 billion, a P/E ratio of 14.42, a PEG ratio of 0.97 and a beta of 1.25.
SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.17. SunTrust Banks had a return on equity of 11.66% and a net margin of 28.17%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the business earned $1.06 EPS. SunTrust Banks’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast that SunTrust Banks, Inc. will post 5.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.43%. The ex-dividend date is Thursday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is presently 49.50%.
Several equities analysts have commented on the stock. Edward Jones upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. B. Riley set a $79.00 price objective on shares of SunTrust Banks and gave the company a “buy” rating in a report on Monday, October 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price objective on shares of SunTrust Banks in a report on Monday, October 8th. Zacks Investment Research downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Finally, Wedbush set a $75.00 price target on shares of SunTrust Banks and gave the company a “hold” rating in a research note on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued 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 price target of $77.00.
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SunTrust Banks Profile
SunTrust Banks, Inc is a bank and financial holding company that engages in the provision of financial services. It offers deposit, credit, mortgage banking, trust and investment, asset management, securities brokerage, and capital market services. It operates through the following segments: Consumer, Wholesale, and Corporate Other.
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