SunTrust Banks, Inc. (STI) Position Reduced by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,918 shares of the financial services provider’s stock after selling 5,379 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in SunTrust Banks were worth $6,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Advisory Services Network LLC increased its holdings in shares of SunTrust Banks by 0.9% in the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Smith Salley & Associates increased its holdings in shares of SunTrust Banks by 1.3% in the second quarter. Smith Salley & Associates now owns 5,139 shares of the financial services provider’s stock valued at $291,000 after buying an additional 66 shares in the last quarter. Intrust Bank NA increased its holdings in shares of SunTrust Banks by 0.4% in the second quarter. Intrust Bank NA now owns 16,568 shares of the financial services provider’s stock valued at $940,000 after buying an additional 70 shares in the last quarter. Huntington National Bank increased its holdings in shares of SunTrust Banks by 2.9% in the second quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock valued at $159,000 after buying an additional 80 shares in the last quarter. Finally, Cadence Capital Management LLC increased its holdings in shares of SunTrust Banks by 0.4% in the second quarter. Cadence Capital Management LLC now owns 20,181 shares of the financial services provider’s stock valued at $1,145,000 after buying an additional 88 shares in the last quarter. 82.32% of the stock is currently owned by institutional investors.

Several research firms have issued reports on STI. UBS AG reaffirmed a “neutral” rating and issued a $62.00 price target (up previously from $61.00) on shares of SunTrust Banks in a report on Friday, October 6th. Citigroup Inc. downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 target price on shares of SunTrust Banks in a research note on Monday, October 23rd. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, October 10th. Finally, FBR & Co reissued a “hold” rating and set a $62.00 target price on shares of SunTrust Banks in a research note on Friday, October 20th. Eighteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. SunTrust Banks currently has a consensus rating of “Hold” and a consensus price target of $63.18.

In related news, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

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Shares of SunTrust Banks, Inc. (NYSE:STI) traded up $0.14 on Thursday, hitting $57.78. 2,794,300 shares of the stock were exchanged, compared to its average volume of 3,368,507. The firm has a market capitalization of $27,438.55, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.55 and a beta of 1.29. 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, Inc. has a 1-year low of $50.66 and a 1-year high of $61.69.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.06. The business had revenue of $2.31 billion during 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 firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. equities research analysts predict that SunTrust Banks, Inc. will post 4.06 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.77%. SunTrust Banks’s dividend payout ratio (DPR) is presently 41.03%.

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.

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

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