Comerica Bank decreased its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 1.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 147,189 shares of the financial services provider’s stock after selling 2,912 shares during the period. Comerica Bank’s holdings in SunTrust Banks were worth $8,239,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of STI. Global X Management Co. LLC increased its stake in shares of SunTrust Banks by 121.2% in the third quarter. Global X Management Co. LLC now owns 2,787 shares of the financial services provider’s stock valued at $122,000 after buying an additional 1,527 shares in the last quarter. TLP Group LLC acquired a new stake in shares of SunTrust Banks during the third quarter valued at approximately $128,000. MSI Financial Services Inc increased its stake in shares of SunTrust Banks by 66.2% in the third quarter. MSI Financial Services Inc now owns 3,010 shares of the financial services provider’s stock valued at $132,000 after buying an additional 1,199 shares in the last quarter. Hall Laurie J Trustee acquired a new stake in shares of SunTrust Banks during the fourth quarter valued at approximately $139,000. Finally, SRB Corp increased its stake in shares of SunTrust Banks by 9.9% in the third quarter. SRB Corp now owns 3,673 shares of the financial services provider’s stock valued at $161,000 after buying an additional 332 shares in the last quarter. Institutional investors and hedge funds own 82.17% of the company’s stock.
SunTrust Banks, Inc. (NYSE:STI) traded up 0.95% on Tuesday, reaching $58.69. The company had a trading volume of 1,070,857 shares. SunTrust Banks, Inc. has a 1-year low of $32.14 and a 1-year high of $58.89. The company’s 50-day moving average price is $56.25 and its 200 day moving average price is $49.06. The firm has a market capitalization of $28.85 billion, a P/E ratio of 16.30 and a beta of 1.33.
SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, January 20th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $2.19 billion for the quarter. SunTrust Banks had a net margin of 20.50% and a return on equity of 8.08%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. On average, equities analysts forecast that SunTrust Banks, Inc. will post $3.84 EPS for the current year.
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Several brokerages have commented on STI. Barclays PLC increased their target price on SunTrust Banks from $49.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 3rd. Credit Suisse Group reissued a “sell” rating and set a $50.00 price target on shares of SunTrust Banks in a report on Thursday, February 9th. Robert W. Baird reissued an “underperform” rating on shares of SunTrust Banks in a report on Saturday, November 19th. Deutsche Bank AG increased their price target on SunTrust Banks from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, November 30th. Finally, BMO Capital Markets reissued a “hold” rating on shares of SunTrust Banks in a report on Friday, January 20th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. SunTrust Banks presently has an average rating of “Hold” and an average target price of $51.20.
In related news, insider Anil T. Cheriyan sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $52.15, for a total transaction of $417,200.00. Following the sale, the insider now owns 81,203 shares of the company’s stock, valued at $4,234,736.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Thomas E. Panther sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $51.69, for a total transaction of $62,028.00. Following the sale, the senior vice president now directly owns 19,122 shares in the company, valued at approximately $988,416.18. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by 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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