First Hawaiian Bank Decreases Holdings in SunTrust Banks, Inc. (STI)

First Hawaiian Bank cut its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,884 shares of the financial services provider’s stock after selling 426 shares during the period. First Hawaiian Bank’s holdings in SunTrust Banks were worth $1,608,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Argent Trust Co grew its position in shares of SunTrust Banks by 2.6% during the 2nd quarter. Argent Trust Co now owns 35,901 shares of the financial services provider’s stock valued at $2,370,000 after acquiring an additional 906 shares during the period. Willis Investment Counsel grew its position in shares of SunTrust Banks by 22.3% during the 3rd quarter. Willis Investment Counsel now owns 267,446 shares of the financial services provider’s stock valued at $17,863,000 after acquiring an additional 48,700 shares during the period. Dorsey & Whitney Trust CO LLC bought a new stake in shares of SunTrust Banks during the 3rd quarter valued at $202,000. G&S Capital LLC grew its position in shares of SunTrust Banks by 2.3% during the 3rd quarter. G&S Capital LLC now owns 48,121 shares of the financial services provider’s stock valued at $3,214,000 after acquiring an additional 1,062 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of SunTrust Banks by 18.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 259,631 shares of the financial services provider’s stock valued at $17,341,000 after acquiring an additional 40,510 shares during the period. Institutional investors and hedge funds own 82.60% of the company’s stock.

Several brokerages recently weighed in on STI. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Saturday, January 5th. Edward Jones raised 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 target price on shares of SunTrust Banks and gave the stock a “buy” rating in a report on Monday, October 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of SunTrust Banks in a report on Monday, October 8th. Finally, BMO Capital Markets dropped their target price on shares of SunTrust Banks from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. SunTrust Banks presently has a consensus rating of “Hold” and an average price target of $74.08.

STI opened at $55.77 on Friday. SunTrust Banks, Inc. has a 52 week low of $46.05 and a 52 week high of $75.08. The stock has a market cap of $24.92 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 0.88 and a beta of 1.39. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.65.

SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, October 19th. The financial services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.39 by $0.17. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that SunTrust Banks, Inc. will post 5.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Shareholders of record on Friday, November 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Thursday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is presently 49.50%.

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

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