Private Advisor Group LLC boosted its position in shares of SunTrust Banks Inc. (NYSE:STI) by 31.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,672 shares of the financial services provider’s stock after buying an additional 2,573 shares during the period. Private Advisor Group LLC’s holdings in SunTrust Banks were worth $429,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Panagora Asset Management Inc. boosted its position in shares of SunTrust Banks by 0.5% in the first quarter. Panagora Asset Management Inc. now owns 2,371,568 shares of the financial services provider’s stock worth $85,566,000 after buying an additional 11,760 shares in the last quarter. Endeavour Capital Advisors Inc. boosted its position in shares of SunTrust Banks by 69.1% in the first quarter. Endeavour Capital Advisors Inc. now owns 912,310 shares of the financial services provider’s stock worth $32,916,000 after buying an additional 372,871 shares in the last quarter. AMP Capital Investors Ltd boosted its position in shares of SunTrust Banks by 10.7% in the first quarter. AMP Capital Investors Ltd now owns 294,737 shares of the financial services provider’s stock worth $10,755,000 after buying an additional 28,469 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of SunTrust Banks by 4.6% in the first quarter. Envestnet Asset Management Inc. now owns 212,692 shares of the financial services provider’s stock worth $7,674,000 after buying an additional 9,279 shares in the last quarter. Finally, Natixis boosted its position in shares of SunTrust Banks by 285.0% in the first quarter. Natixis now owns 633,437 shares of the financial services provider’s stock worth $22,854,000 after buying an additional 468,893 shares in the last quarter. Hedge funds and other institutional investors own 82.54% of the company’s stock.

SunTrust Banks Inc. (NYSE:STI) traded up 0.18% during trading on Tuesday, hitting $43.94. 597,860 shares of the company traded hands. The stock has a 50 day moving average price of $42.98 and a 200 day moving average price of $41.00. SunTrust Banks Inc. has a 12-month low of $31.07 and a 12-month high of $45.24. The company has a market capitalization of $22.03 billion, a P/E ratio of 11.90 and a beta of 1.31.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the business earned $0.89 EPS. SunTrust Banks’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that SunTrust Banks Inc. will post $3.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.26 dividend. This is a boost from SunTrust Banks’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Monday, August 29th. SunTrust Banks’s dividend payout ratio (DPR) is currently 28.18%.

A number of brokerages have weighed in on STI. Wells Fargo & Co. reaffirmed a “buy” rating on shares of SunTrust Banks in a research note on Sunday, July 10th. Barclays PLC reaffirmed an “equal weight” rating and issued a $46.00 price target on shares of SunTrust Banks in a research note on Sunday, July 10th. Deutsche Bank AG reaffirmed a “buy” rating on shares of SunTrust Banks in a research note on Wednesday, June 15th. Robert W. Baird reaffirmed an “underperform” rating on shares of SunTrust Banks in a research note on Thursday, August 4th. Finally, Goldman Sachs Group Inc. lowered shares of SunTrust Banks from a “conviction-buy” rating to a “buy” rating and lifted their price target for the company from $44.00 to $46.00 in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. SunTrust Banks currently has a consensus rating of “Buy” and an average price target of $44.00.

In related news, insider Susan S. Johnson sold 1,118 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total value of $47,403.20. Following the transaction, the insider now directly owns 1,119 shares in the company, valued at approximately $47,445.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.67% of the stock is owned by corporate 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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