SunTrust Banks, Inc. (STI) Position Lifted by FDx Advisors Inc.
FDx Advisors Inc. boosted its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 21.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,254 shares of the financial services provider’s stock after buying an additional 5,372 shares during the period. FDx Advisors Inc.’s holdings in SunTrust Banks were worth $1,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in STI. Fiduciary Trust Co. acquired a new position in SunTrust Banks during the 2nd quarter valued at about $118,000. Advisory Services Network LLC increased its position in SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in SunTrust Banks during the 2nd quarter valued at about $136,000. Dupont Capital Management Corp increased its position in SunTrust Banks by 55.2% during the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after buying an additional 933 shares in the last quarter. Finally, Huntington National Bank increased its position in SunTrust Banks by 2.9% during the 2nd quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock valued at $159,000 after buying an additional 80 shares in the last quarter. 82.32% of the stock is currently owned by institutional investors.
Shares of SunTrust Banks, Inc. (STI) traded down $0.01 during mid-day trading on Monday, reaching $56.79. The company’s stock had a trading volume of 4,532,200 shares, compared to its average volume of 3,373,300. The stock has a market capitalization of $27,033.93, a P/E ratio of 14.71, a P/E/G ratio of 1.53 and a beta of 1.29. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. SunTrust Banks, Inc. has a 52 week low of $49.17 and a 52 week high of $61.69.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. SunTrust Banks’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. equities research analysts anticipate that SunTrust Banks, Inc. will post 4.06 EPS for the current year.
Several research analysts recently issued reports on STI shares. Sandler O’Neill lowered SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research report on Monday, October 23rd. Piper Jaffray Companies reissued a “buy” rating and issued a $63.00 price objective on shares of SunTrust Banks in a report on Monday, August 28th. Zacks Investment Research lowered SunTrust Banks from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Morgan Stanley increased their price objective on SunTrust Banks from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Finally, Barclays PLC increased their price objective on SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Nineteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $63.18.
In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.
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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