Bank of Montreal Can decreased its position in SunTrust Banks, Inc. (NYSE:STI) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,059,178 shares of the financial services provider’s stock after selling 158,007 shares during the quarter. Bank of Montreal Can owned 0.22% of SunTrust Banks worth $68,412,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC raised its position in 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 purchasing an additional 20 shares during the period. Westwood Holdings Group Inc. purchased a new stake in SunTrust Banks in the second quarter valued at approximately $136,000. Dupont Capital Management Corp raised its position in SunTrust Banks by 55.2% in the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 933 shares during the period. Blue Granite Capital LLC purchased a new stake in SunTrust Banks in the third quarter valued at approximately $177,000. Finally, Balentine LLC raised its position in SunTrust Banks by 2.9% in the second quarter. Balentine LLC now owns 3,148 shares of the financial services provider’s stock valued at $179,000 after purchasing an additional 90 shares during the period. 80.71% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on STI shares. Sandler O’Neill lowered SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research report on Monday, October 23rd. Wedbush lowered SunTrust Banks from an “outperform” rating to a “neutral” rating and cut their target price for the company from $71.00 to $63.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. Keefe, Bruyette & Woods raised SunTrust Banks from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 12th. UBS Group raised SunTrust Banks from a “neutral” rating to a “buy” rating and boosted their target price for the company from $62.00 to $73.00 in a research report on Tuesday, December 12th. Finally, Nomura boosted their target price on SunTrust Banks from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. SunTrust Banks currently has a consensus rating of “Hold” and an average target price of $67.88.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. research analysts forecast that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
In related news, Vice Chairman Mark A. Chancy sold 4,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.
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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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