AMP Capital Investors Ltd Trims Stake in SunTrust Banks, Inc. (STI)

AMP Capital Investors Ltd cut its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 29.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 297,189 shares of the financial services provider’s stock after selling 125,284 shares during the quarter. AMP Capital Investors Ltd’s holdings in SunTrust Banks were worth $19,197,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of SunTrust Banks by 2.4% during the fourth quarter. BlackRock Inc. now owns 44,576,788 shares of the financial services provider’s stock worth $2,879,214,000 after acquiring an additional 1,047,842 shares during the period. Boston Partners increased its position in shares of SunTrust Banks by 3.2% during the fourth quarter. Boston Partners now owns 7,033,278 shares of the financial services provider’s stock worth $454,279,000 after acquiring an additional 221,043 shares during the period. Bank of New York Mellon Corp increased its position in shares of SunTrust Banks by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 6,787,866 shares of the financial services provider’s stock worth $438,428,000 after acquiring an additional 339,394 shares during the period. Lazard Asset Management LLC increased its position in shares of SunTrust Banks by 54.0% during the fourth quarter. Lazard Asset Management LLC now owns 6,615,575 shares of the financial services provider’s stock worth $427,299,000 after acquiring an additional 2,319,782 shares during the period. Finally, LSV Asset Management increased its position in shares of SunTrust Banks by 0.5% during the fourth quarter. LSV Asset Management now owns 6,367,422 shares of the financial services provider’s stock worth $411,271,000 after acquiring an additional 33,530 shares during the period. 82.76% of the stock is currently owned by institutional investors and hedge funds.

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SunTrust Banks, Inc. (NYSE:STI) opened at $72.85 on Monday. The stock has a market cap of $34,115.65, a P/E ratio of 16.26, a P/E/G ratio of 1.16 and a beta of 1.33. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 0.93. SunTrust Banks, Inc. has a 1-year low of $51.96 and a 1-year high of $72.87.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. equities analysts predict that SunTrust Banks, Inc. will post 5.03 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, February 27th. SunTrust Banks’s dividend payout ratio is currently 35.71%.

In other SunTrust Banks news, insider Susan S. Johnson sold 3,600 shares of SunTrust Banks stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.04, for a total value of $255,744.00. Following the transaction, the insider now directly owns 8,857 shares of the company’s stock, valued at $629,201.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jerome T. Lienhard sold 29,248 shares of SunTrust Banks stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total transaction of $508,037.76. The disclosure for this sale can be found here. Insiders sold 40,348 shares of company stock worth $1,289,757 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.

A number of equities analysts have recently commented on STI shares. UBS Group raised shares of SunTrust Banks from a “neutral” rating to a “buy” rating and raised their target price for the stock from $62.00 to $73.00 in a research report on Tuesday, December 12th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $77.00 target price on shares of SunTrust Banks in a research report on Friday, December 29th. Vining Sparks reaffirmed a “buy” rating and set a $85.00 target price on shares of SunTrust Banks in a research report on Monday, January 8th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $74.00 target price on shares of SunTrust Banks in a research report on Thursday, January 4th. Sixteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $69.16.

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

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