Hennessy Advisors Inc. lessened its stake in SunTrust Banks, Inc. (NYSE:STI) by 20.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,000 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in SunTrust Banks were worth $956,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Maple Capital Management Inc. increased its holdings in shares of SunTrust Banks by 4.8% in the 3rd quarter. Maple Capital Management Inc. now owns 148,693 shares of the financial services provider’s stock valued at $8,887,000 after purchasing an additional 6,867 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in SunTrust Banks by 1.6% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 166,437 shares of the financial services provider’s stock valued at $9,948,000 after acquiring an additional 2,610 shares during the last quarter. Pettee Investors Inc. acquired a new stake in SunTrust Banks in the 3rd quarter valued at about $870,000. Boston Partners grew its stake in SunTrust Banks by 6.8% in the 3rd quarter. Boston Partners now owns 6,812,235 shares of the financial services provider’s stock valued at $407,167,000 after acquiring an additional 433,042 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in SunTrust Banks by 31.4% in the 3rd quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock valued at $435,947,000 after acquiring an additional 1,742,756 shares during the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.
In other news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.
SunTrust Banks, Inc. (NYSE STI) traded down $0.01 on Monday, hitting $56.79. 4,532,200 shares of the stock were exchanged, compared to its average volume of 3,373,300. The stock has a market capitalization of $27,033.93, a price-to-earnings 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 $49.17 and a 12 month high of $61.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. analysts forecast 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 several 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 stock from $56.00 to $60.00 in a research note on Monday, October 9th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of SunTrust Banks in a research note on Sunday, July 23rd. Barclays PLC raised their price target on shares of SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Raymond James Financial, Inc. cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of SunTrust Banks in a research note 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. SunTrust Banks currently has a consensus rating of “Hold” and an average price target of $63.18.
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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