State of Wisconsin Investment Board Buys 135,554 Shares of SunTrust Banks, Inc. (STI)

State of Wisconsin Investment Board boosted its position in SunTrust Banks, Inc. (NYSE:STI) by 26.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 645,676 shares of the financial services provider’s stock after buying an additional 135,554 shares during the period. State of Wisconsin Investment Board owned about 0.13% of SunTrust Banks worth $35,706,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NCM Capital Management Group Inc. boosted its stake in SunTrust Banks by 35.0% in the third quarter. NCM Capital Management Group Inc. now owns 4,050 shares of the financial services provider’s stock valued at $177,000 after buying an additional 1,050 shares in the last quarter. LSV Asset Management boosted its stake in shares of SunTrust Banks by 15.1% in the third quarter. LSV Asset Management now owns 7,485,815 shares of the financial services provider’s stock worth $327,878,000 after buying an additional 983,250 shares during the period. Intrust Bank NA raised its position in SunTrust Banks by 1.0% in the third quarter. Intrust Bank NA now owns 16,326 shares of the financial services provider’s stock valued at $716,000 after buying an additional 157 shares in the last quarter. First Midwest Bank Trust Division raised its position in SunTrust Banks by 12.0% in the third quarter. First Midwest Bank Trust Division now owns 89,437 shares of the financial services provider’s stock valued at $3,918,000 after buying an additional 9,557 shares in the last quarter. Finally, Abner Herrman & Brock LLC raised its position in SunTrust Banks by 3.8% in the third quarter. Abner Herrman & Brock LLC now owns 148,716 shares of the financial services provider’s stock valued at $6,514,000 after buying an additional 5,434 shares in the last quarter. 82.43% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of SunTrust Banks, Inc. (NYSE:STI) traded up 0.23% during mid-day trading on Friday, hitting $56.15. The stock had a trading volume of 4,645,717 shares. The stock’s 50-day moving average price is $55.69 and its 200 day moving average price is $56.17. SunTrust Banks, Inc. has a 1-year low of $37.71 and a 1-year high of $61.69. The company has a market capitalization of $27.27 billion, a P/E ratio of 15.30 and a beta of 1.34.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.07. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.21 billion. SunTrust Banks had a return on equity of 8.14% and a net margin of 20.32%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. On average, analysts predict that SunTrust Banks, Inc. will post $3.97 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, May 26th. SunTrust Banks’s dividend payout ratio (DPR) is presently 28.42%.

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A number of equities analysts recently issued reports on the stock. Robert W. Baird upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $52.00 target price for the company in a research report on Monday, June 5th. Barclays PLC upped their price target on shares of SunTrust Banks from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, April 24th. Rafferty Capital Markets upped their price objective on shares of SunTrust Banks from $63.00 to $64.50 and gave the company a “buy” rating in a research note on Monday, April 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 price objective on shares of SunTrust Banks in a research note on Monday, May 15th. Finally, BidaskClub raised shares of SunTrust Banks from a “hold” rating to a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company. SunTrust Banks currently has an average rating of “Hold” and a consensus price target of $56.42.

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.

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