World Asset Management Inc Purchases 4,700 Shares of SunTrust Banks, Inc. (STI)

World Asset Management Inc boosted its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 10.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,988 shares of the financial services provider’s stock after buying an additional 4,700 shares during the period. World Asset Management Inc’s holdings in SunTrust Banks were worth $2,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Whittier Trust Co. increased its position in SunTrust Banks by 3.1% in the first quarter. Whittier Trust Co. now owns 1,909 shares of the financial services provider’s stock worth $105,000 after buying an additional 58 shares in the last quarter. Independent Advisor Alliance purchased a new position in SunTrust Banks during the fourth quarter worth $105,000. Advisory Services Network LLC purchased a new position in SunTrust Banks during the first quarter worth $117,000. Ancora Advisors LLC purchased a new position in SunTrust Banks during the fourth quarter worth $138,000. Finally, SRB Corp increased its position in SunTrust Banks by 9.9% in the third quarter. SRB Corp now owns 3,673 shares of the financial services provider’s stock worth $161,000 after buying an additional 332 shares in the last quarter. 82.17% of the stock is currently owned by institutional investors.

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

Shares of SunTrust Banks, Inc. (NYSE:STI) traded up 0.35% during midday trading on Friday, reaching $54.26. The company’s stock had a trading volume of 1,936,213 shares. SunTrust Banks, Inc. has a one year low of $37.71 and a one year high of $61.69. The stock’s 50-day moving average is $56.01 and its 200-day moving average is $55.36. The company has a market capitalization of $26.35 billion, a P/E ratio of 14.78 and a beta of 1.33.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, April 21st. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. SunTrust Banks had a return on equity of 8.08% and a net margin of 20.50%. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts expect that SunTrust Banks, Inc. will post $3.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, May 26th. SunTrust Banks’s dividend payout ratio (DPR) is 28.97%.

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A number of research analysts have weighed in on the company. Royal Bank of Canada reissued a “buy” rating and issued a $60.00 target price on shares of SunTrust Banks in a report on Thursday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 target price on shares of SunTrust Banks in a report on Monday. FBR & Co set a $65.00 target price on SunTrust Banks and gave the company a “buy” rating in a report on Monday, April 24th. Bank of America Corp reissued a “hold” rating on shares of SunTrust Banks in a report on Monday, April 24th. Finally, Evercore ISI downgraded SunTrust Banks to a “buy” rating in a report on Friday, March 3rd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. SunTrust Banks presently has a consensus rating of “Hold” and a consensus price target of $55.24.

In other SunTrust Banks news, EVP Thomas E. Freeman sold 22,584 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $59.25, for a total transaction of $1,338,102.00. Following the transaction, the executive vice president now directly owns 148,273 shares in the company, valued at $8,785,175.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan S. Johnson sold 757 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $59.83, for a total value of $45,291.31. Following the transaction, the insider now owns 2,706 shares in the company, valued at $161,899.98. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate 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.

5 Day Chart for NYSE:STI

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