Montag A & Associates Inc. raised its holdings in SunTrust Banks, Inc. (NYSE:STI) by 6.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,085 shares of the financial services provider’s stock after buying an additional 12,594 shares during the period. SunTrust Banks comprises about 1.4% of Montag A & Associates Inc.’s holdings, making the stock its 8th largest position. Montag A & Associates Inc.’s holdings in SunTrust Banks were worth $13,334,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in STI. NN Investment Partners Holdings N.V. lifted its stake in shares of SunTrust Banks by 61.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 43,827 shares of the financial services provider’s stock valued at $2,486,000 after buying an additional 16,719 shares in the last quarter. Creative Planning lifted its position in shares of SunTrust Banks by 0.7% during the second quarter. Creative Planning now owns 51,766 shares of the financial services provider’s stock valued at $2,936,000 after purchasing an additional 348 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of SunTrust Banks by 64.5% during the second quarter. State of Alaska Department of Revenue now owns 6,679 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 2,620 shares in the last quarter. National Pension Service lifted its position in shares of SunTrust Banks by 11.8% during the second quarter. National Pension Service now owns 456,947 shares of the financial services provider’s stock valued at $25,964,000 after purchasing an additional 48,105 shares in the last quarter. Finally, Chesley Taft & Associates LLC lifted its position in shares of SunTrust Banks by 4.1% during the second quarter. Chesley Taft & Associates LLC now owns 23,590 shares of the financial services provider’s stock valued at $1,338,000 after purchasing an additional 925 shares in the last quarter. 82.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SunTrust Banks, Inc. (NYSE:STI) traded up $0.54 during trading hours on Tuesday, reaching $57.33. 3,185,800 shares of the company traded hands, compared to its average volume of 3,372,443. The stock has a market capitalization of $27,290.00, a PE ratio of 14.71, a P/E/G ratio of 1.53 and a beta of 1.29. SunTrust Banks, Inc. has a 12 month low of $50.66 and a 12 month high of $61.69. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. SunTrust Banks’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. equities analysts anticipate that SunTrust Banks, Inc. will post 4.06 earnings per share for the current year.
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STI has been the topic of a number of recent analyst reports. Credit Suisse Group raised shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and raised their price target for the company from $56.00 to $60.00 in a research report on Monday, October 9th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of SunTrust Banks in a research report on Sunday, July 23rd. Barclays PLC raised their price target on shares of SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Raymond James Financial, Inc. lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Monday, October 23rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $60.00 price target on shares of SunTrust Banks in a research report on Thursday, July 27th. Nineteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $63.18.
In related news, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is currently owned by insiders.
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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