Signaturefd LLC decreased its stake in shares of SunTrust Banks Inc. (NYSE:STI) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,847 shares of the financial services provider’s stock after selling 99 shares during the period. Signaturefd LLC’s holdings in SunTrust Banks were worth $610,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Washington Trust Bank increased its stake in SunTrust Banks by 2.1% in the second quarter. Washington Trust Bank now owns 4,420 shares of the financial services provider’s stock valued at $182,000 after buying an additional 90 shares in the last quarter. Home Federal Bank of Tennessee bought a new stake in SunTrust Banks during the second quarter valued at approximately $200,000. 1st Global Advisors Inc. bought a new stake in SunTrust Banks during the second quarter valued at approximately $202,000. Huntington National Bank increased its stake in SunTrust Banks by 22.2% in the second quarter. Huntington National Bank now owns 4,974 shares of the financial services provider’s stock valued at $205,000 after buying an additional 904 shares in the last quarter. Finally, Genesee Valley Trust Co. bought a new stake in SunTrust Banks during the second quarter valued at approximately $205,000. 82.36% of the stock is owned by hedge funds and other institutional investors.
Shares of SunTrust Banks Inc. (NYSE:STI) traded up 1.420% on Tuesday, hitting $45.345. The company had a trading volume of 2,719,029 shares. SunTrust Banks Inc. has a 12-month low of $31.07 and a 12-month high of $46.47. The company has a 50 day moving average of $44.21 and a 200-day moving average of $42.13. The company has a market cap of $22.73 billion, a price-to-earnings ratio of 12.279 and a beta of 1.31.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, analysts forecast that SunTrust Banks Inc. will post $3.51 earnings per share for the current year.
Several analysts have commented on the company. Nomura reaffirmed a “hold” rating on shares of SunTrust Banks in a research note on Saturday, July 9th. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, September 21st. Compass Point upped their price objective on SunTrust Banks from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, July 26th. Deutsche Bank AG reissued a “buy” rating and set a $43.00 target price on shares of SunTrust Banks in a research note on Thursday, August 18th. Finally, Credit Agricole SA increased their target price on SunTrust Banks from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, September 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $44.91.
In other SunTrust Banks news, insider Susan S. Johnson sold 1,118 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total value of $47,403.20. Following the transaction, the insider now owns 1,119 shares of the company’s stock, valued at $47,445.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is owned by company insiders.
About SunTrust Banks
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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