Cullinan Associates Inc. Has $11.83 Million Holdings in SunTrust Banks, Inc. (STI)

Cullinan Associates Inc. cut its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,200 shares of the financial services provider’s stock after selling 8,000 shares during the quarter. SunTrust Banks accounts for 0.9% of Cullinan Associates Inc.’s portfolio, making the stock its 22nd largest position. Cullinan Associates Inc.’s holdings in SunTrust Banks were worth $11,833,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Capital World Investors lifted its position in shares of SunTrust Banks by 20.7% in the second quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock worth $1,673,982,000 after purchasing an additional 5,056,000 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of SunTrust Banks by 3,033.8% in the second quarter. Janus Henderson Group PLC now owns 2,006,553 shares of the financial services provider’s stock worth $113,812,000 after purchasing an additional 1,942,524 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of SunTrust Banks by 3,009.4% in the second quarter. Lazard Asset Management LLC now owns 1,938,443 shares of the financial services provider’s stock worth $109,948,000 after purchasing an additional 1,876,101 shares in the last quarter. American Century Companies Inc. lifted its position in shares of SunTrust Banks by 31.4% in the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock worth $435,947,000 after purchasing an additional 1,742,756 shares in the last quarter. Finally, FMR LLC lifted its position in shares of SunTrust Banks by 4.3% in the second quarter. FMR LLC now owns 29,614,981 shares of the financial services provider’s stock worth $1,679,761,000 after purchasing an additional 1,219,272 shares in the last quarter. 80.71% of the stock is owned by institutional investors.

In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total value of $240,240.00. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Shares of SunTrust Banks, Inc. (NYSE STI) traded up $0.05 during mid-day trading on Wednesday, reaching $68.35. The company’s stock had a trading volume of 4,388,477 shares, compared to its average volume of 4,109,364. SunTrust Banks, Inc. has a one year low of $51.96 and a one year high of $69.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market capitalization of $32,540.00, a P/E ratio of 17.53, a PEG ratio of 1.37 and a beta of 1.29.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. sell-side analysts expect that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $77.00 price target on shares of SunTrust Banks in a research report on Friday, December 29th. UBS Group reissued a “neutral” rating and issued a $62.00 price target (up from $61.00) on shares of SunTrust Banks in a research report on Friday, October 6th. Citigroup lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Monday, October 23rd. They noted that the move was a valuation call. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $65.00 price target on shares of SunTrust Banks in a research report on Monday, October 23rd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. SunTrust Banks currently has a consensus rating of “Hold” and a consensus target price of $67.88.

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SunTrust Banks Company 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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