American Research & Management Co. maintained its position in shares of SunTrust Banks Inc. (NYSE:STI) during the second quarter, Holdings Channel reports. The firm owned 5,491 shares of the financial services provider’s stock at the end of the second quarter. American Research & Management Co.’s holdings in SunTrust Banks were worth $226,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in STI. NN Investment Partners Holdings N.V. acquired a new position in shares of SunTrust Banks during the first quarter valued at approximately $349,000. Menta Capital LLC raised its stake in SunTrust Banks by 57.9% in the first quarter. Menta Capital LLC now owns 28,100 shares of the financial services provider’s stock valued at $1,014,000 after buying an additional 10,300 shares during the period. Aviva PLC raised its stake in SunTrust Banks by 1.1% in the first quarter. Aviva PLC now owns 262,793 shares of the financial services provider’s stock valued at $9,482,000 after buying an additional 2,793 shares during the period. Credit Agricole S A raised its stake in SunTrust Banks by 29.5% in the first quarter. Credit Agricole S A now owns 113,968 shares of the financial services provider’s stock valued at $4,112,000 after buying an additional 25,945 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in SunTrust Banks by 476.5% in the first quarter. Canada Pension Plan Investment Board now owns 735,651 shares of the financial services provider’s stock valued at $26,542,000 after buying an additional 608,040 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.
SunTrust Banks Inc. (NYSE:STI) traded up 1.87% during midday trading on Wednesday, reaching $46.21. 4,008,195 shares of the company traded hands. SunTrust Banks Inc. has a one year low of $31.07 and a one year high of $46.52. The company has a market capitalization of $23.17 billion, a price-to-earnings ratio of 12.51 and a beta of 1.31. The stock’s 50 day moving average is $44.26 and its 200 day moving average is $42.19.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.06. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the business posted $0.89 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that SunTrust Banks Inc. will post $3.51 earnings per share for the current year.
Several analysts have issued reports on the stock. Nomura reaffirmed a “hold” rating on shares of SunTrust Banks in a research report on Saturday, July 9th. Robert W. Baird lowered shares of SunTrust Banks from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $43.00 to $41.00 in a research report on Friday, July 15th. Compass Point upped their price target on shares of SunTrust Banks from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 26th. Portales Partners raised shares of SunTrust Banks from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, June 28th. Finally, Sanford C. Bernstein lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 price target on the stock. in a research report on Tuesday, August 16th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. SunTrust Banks currently has a consensus rating of “Buy” and an average price target of $44.91.
In related news, insider Susan S. Johnson sold 1,118 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total value of $47,403.20. Following the sale, the insider now directly owns 1,119 shares in the company, valued at approximately $47,445.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is owned by corporate insiders.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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