Alps Advisors Inc. increased its position in SunTrust Banks, Inc. (NYSE:STI) by 157.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,792 shares of the financial services provider’s stock after purchasing an additional 10,278 shares during the period. Alps Advisors Inc.’s holdings in SunTrust Banks were worth $1,004,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Fiduciary Trust Co. bought a new position in SunTrust Banks during the 2nd quarter valued at about $118,000. Advisory Services Network LLC lifted its stake in SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 20 shares during the period. Westwood Holdings Group Inc. bought a new position in SunTrust Banks during the 2nd quarter valued at about $136,000. Dupont Capital Management Corp lifted its stake in SunTrust Banks by 55.2% during the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 933 shares during the period. Finally, Huntington National Bank lifted its stake in SunTrust Banks by 2.9% during the 2nd quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 80 shares during the period. Institutional investors own 82.32% of the company’s stock.
SunTrust Banks, Inc. (NYSE:STI) opened at $57.33 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $27,033.93, a P/E ratio of 14.71, a PEG ratio of 1.53 and a beta of 1.29. SunTrust Banks, Inc. has a 52-week low of $50.66 and a 52-week high of $61.69.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS. sell-side analysts predict that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.
Several equities analysts have issued reports on the stock. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of SunTrust Banks in a research note on Sunday, July 23rd. UBS AG cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Morgan Stanley reiterated an “underweight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of SunTrust Banks in a research note on Tuesday, July 25th. Piper Jaffray Companies reiterated a “buy” rating and issued a $63.00 price objective on shares of SunTrust Banks in a research note on Monday, August 28th. Finally, Sandler O’Neill cut shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Monday, October 23rd. Nineteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $63.18.
In other news, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by corporate insiders.
SunTrust Banks 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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