Stoneridge Investment Partners LLC lowered its holdings in SunTrust Banks, Inc. (NYSE:STI) by 1.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,189 shares of the financial services provider’s stock after selling 524 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in SunTrust Banks were worth $2,279,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its holdings in shares of SunTrust Banks by 319.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 38,164 shares of the financial services provider’s stock worth $2,520,000 after purchasing an additional 29,055 shares in the last quarter. PGGM Investments lifted its position in shares of SunTrust Banks by 12.4% during the 3rd quarter. PGGM Investments now owns 582,764 shares of the financial services provider’s stock worth $38,923,000 after buying an additional 64,264 shares during the period. Scout Investments Inc. lifted its position in shares of SunTrust Banks by 145.0% during the 3rd quarter. Scout Investments Inc. now owns 397,102 shares of the financial services provider’s stock worth $26,522,000 after buying an additional 235,046 shares during the period. First Hawaiian Bank bought a new position in shares of SunTrust Banks during the 3rd quarter worth approximately $2,158,000. Finally, Andra AP fonden lifted its position in shares of SunTrust Banks by 3.6% during the 3rd quarter. Andra AP fonden now owns 98,400 shares of the financial services provider’s stock worth $6,572,000 after buying an additional 3,400 shares during the period. 83.02% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the company. ValuEngine upgraded SunTrust Banks from a “sell” rating to a “hold” rating in a research report on Friday. Sandler O’Neill downgraded SunTrust Banks from a “buy” rating to a “hold” rating and set a $69.00 target price for the company. in a research report on Friday. Sanford C. Bernstein downgraded SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 target price for the company. in a research report on Friday. Keefe, Bruyette & Woods downgraded SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Macquarie upgraded SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 target price for the company in a research report on Friday. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $71.27.
NYSE:STI traded up $0.40 during midday trading on Monday, reaching $64.77. The stock had a trading volume of 142,830 shares, compared to its average volume of 5,793,275. SunTrust Banks, Inc. has a 12-month low of $46.05 and a 12-month high of $75.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market cap of $23.99 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.32 and a beta of 1.51.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, January 18th. The financial services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. SunTrust Banks had a net margin of 26.61% and a return on equity of 12.40%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the firm posted $1.09 EPS. SunTrust Banks’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts expect that SunTrust Banks, Inc. will post 5.87 earnings per share for the current fiscal year.
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SunTrust Banks Company Profile
SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.
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