Keybank National Association OH grew its holdings in SunTrust Banks, Inc. (NYSE:STI) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 149,406 shares of the financial services provider’s stock after acquiring an additional 7,243 shares during the quarter. Keybank National Association OH’s holdings in SunTrust Banks were worth $9,650,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. American Century Companies Inc. boosted 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 valued at $435,947,000 after acquiring an additional 1,742,756 shares during the period. Boston Partners lifted its position in SunTrust Banks by 3.2% during the fourth quarter. Boston Partners now owns 7,033,278 shares of the financial services provider’s stock worth $454,279,000 after purchasing an additional 221,043 shares during the period. Bank of New York Mellon Corp lifted its position in SunTrust Banks by 7.3% during the third quarter. Bank of New York Mellon Corp now owns 6,448,472 shares of the financial services provider’s stock worth $385,427,000 after purchasing an additional 437,387 shares during the period. LSV Asset Management lifted its position in SunTrust Banks by 0.5% during the fourth quarter. LSV Asset Management now owns 6,367,422 shares of the financial services provider’s stock worth $411,271,000 after purchasing an additional 33,530 shares during the period. Finally, Victory Capital Management Inc. lifted its position in SunTrust Banks by 9.5% during the fourth quarter. Victory Capital Management Inc. now owns 6,359,543 shares of the financial services provider’s stock worth $410,764,000 after purchasing an additional 549,640 shares during the period. 81.77% of the stock is owned by institutional investors.
In other news, EVP Jerome T. Lienhard sold 29,248 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total value of $508,037.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s 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. 0.55% of the stock is currently owned by insiders.
SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. sell-side analysts forecast that SunTrust Banks, Inc. will post 5.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, February 27th. SunTrust Banks’s payout ratio is 35.71%.
Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of SunTrust Banks from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. UBS Group cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Monday, October 23rd. Goldman Sachs Group reaffirmed a “buy” rating and set a $74.00 price objective on shares of SunTrust Banks in a research report on Thursday, January 4th. B. Riley reaffirmed a “hold” rating and set a $70.00 price objective on shares of SunTrust Banks in a research report on Monday, January 22nd. Finally, FBR & Co reaffirmed a “hold” rating and set a $62.00 price objective on shares of SunTrust Banks in a research report on Friday, October 20th. Fifteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. SunTrust Banks has a consensus rating of “Hold” and an average target price of $69.02.
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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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