Investec Asset Management North America Inc. Has $11.84 Million Position in SunTrust Banks, Inc. (STI)

Investec Asset Management North America Inc. reduced its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,786 shares of the financial services provider’s stock after selling 12,587 shares during the quarter. SunTrust Banks makes up 2.2% of Investec Asset Management North America Inc.’s holdings, making the stock its 19th largest position. Investec Asset Management North America Inc.’s holdings in SunTrust Banks were worth $11,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Guardian Life Insurance Co. of America lifted its stake in shares of SunTrust Banks by 1.0% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,893 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 18 shares during the last quarter. Canal Capital Management LLC lifted its stake in shares of SunTrust Banks by 0.4% during the 2nd quarter. Canal Capital Management LLC now owns 6,318 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 27 shares during the last quarter. Capital Management Corp VA lifted its stake in shares of SunTrust Banks by 0.5% during the 2nd quarter. Capital Management Corp VA now owns 8,201 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 38 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in shares of SunTrust Banks by 0.5% during the 1st quarter. Great Lakes Advisors LLC now owns 8,984 shares of the financial services provider’s stock worth $497,000 after purchasing an additional 43 shares during the last quarter. Finally, Ronald Blue & Co. LLC lifted its stake in shares of SunTrust Banks by 0.9% during the 1st quarter. Ronald Blue & Co. LLC now owns 6,315 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 81.19% of the company’s stock.

SunTrust Banks, Inc. (NYSE STI) traded up 0.16% during mid-day trading on Friday, reaching $54.83. The company had a trading volume of 4,310,375 shares. The company has a market capitalization of $26.41 billion, a price-to-earnings ratio of 14.58 and a beta of 1.33. SunTrust Banks, Inc. has a 12 month low of $42.36 and a 12 month high of $61.69. The firm’s 50 day moving average price is $55.99 and its 200-day moving average price is $56.18.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.05. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.29 billion. SunTrust Banks had a return on equity of 8.48% and a net margin of 20.51%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 EPS. Equities research analysts anticipate that SunTrust Banks, Inc. will post $4.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, August 29th. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.26. This represents a $1.60 annualized dividend and a yield of 2.92%. SunTrust Banks’s dividend payout ratio is currently 42.67%.

SunTrust Banks announced that its board has approved a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $1.32 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

In other SunTrust Banks news, insider Susan S. Johnson sold 808 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $57.34, for a total transaction of $46,330.72. Following the completion of the sale, the insider now directly owns 3,515 shares of the company’s stock, valued at approximately $201,550.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is owned by corporate insiders.

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A number of equities research analysts have commented on STI shares. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of SunTrust Banks in a research note on Sunday, July 23rd. Robert W. Baird upgraded SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $52.00 price target for the company in a research note on Monday, June 5th. Instinet reiterated a “neutral” rating and issued a $61.00 price target on shares of SunTrust Banks in a research note on Wednesday, July 12th. BidaskClub upgraded SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 price target on shares of SunTrust Banks in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $60.39.

About SunTrust Banks

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

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