Rothschild Asset Management Inc. trimmed its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,301,928 shares of the financial services provider’s stock after selling 40,181 shares during the period. SunTrust Banks comprises about 0.9% of Rothschild Asset Management Inc.’s holdings, making the stock its 14th biggest position. Rothschild Asset Management Inc. owned about 0.27% of SunTrust Banks worth $77,817,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Whittier Trust Co. raised its position in shares of SunTrust Banks by 119.9% during the 3rd quarter. Whittier Trust Co. now owns 4,197 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 2,288 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID raised its position in shares of SunTrust Banks by 242.7% during the 3rd quarter. Mountain Pacific Investment Advisers Inc. ID now owns 23,017 shares of the financial services provider’s stock worth $1,376,000 after purchasing an additional 16,300 shares during the last quarter. Keybank National Association OH raised its position in shares of SunTrust Banks by 2.5% during the 2nd quarter. Keybank National Association OH now owns 147,647 shares of the financial services provider’s stock worth $8,375,000 after purchasing an additional 3,564 shares during the last quarter. HPM Partners LLC raised its position in shares of SunTrust Banks by 32.5% during the 2nd quarter. HPM Partners LLC now owns 95,768 shares of the financial services provider’s stock worth $4,681,000 after purchasing an additional 23,506 shares during the last quarter. Finally, Airain ltd raised its position in shares of SunTrust Banks by 479.9% during the 2nd quarter. Airain ltd now owns 59,044 shares of the financial services provider’s stock worth $3,349,000 after purchasing an additional 48,863 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.
Several research analysts recently issued reports on STI shares. Sandler O’Neill downgraded SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research report on Monday, October 23rd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $63.00 target price on shares of SunTrust Banks in a research note on Monday, August 28th. Zacks Investment Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Barclays PLC lifted their target price on shares of SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Finally, Morgan Stanley lifted their target price on shares of SunTrust Banks from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Eighteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. SunTrust Banks currently has an average rating of “Hold” and an average target price of $63.18.
In related news, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by corporate insiders.
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Shares of SunTrust Banks, Inc. (NYSE:STI) traded up $0.05 during trading on Monday, reaching $57.77. 2,471,600 shares of the company were exchanged, compared to its average volume of 3,363,005. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. SunTrust Banks, Inc. has a 12-month low of $51.06 and a 12-month high of $61.69. The stock has a market cap of $27,500.00, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.56 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 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. analysts predict that SunTrust Banks, Inc. will post 4.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.77%. SunTrust Banks’s dividend payout ratio (DPR) is 41.03%.
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.
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