Bank of New York Mellon Corp lifted its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,448,472 shares of the financial services provider’s stock after buying an additional 437,387 shares during the period. Bank of New York Mellon Corp owned about 1.35% of SunTrust Banks worth $385,427,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in STI. Capital World Investors increased its holdings in shares of SunTrust Banks by 20.7% during the second quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock worth $1,673,982,000 after buying an additional 5,056,000 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of SunTrust Banks by 3,033.8% during the second quarter. Janus Henderson Group PLC now owns 2,006,553 shares of the financial services provider’s stock worth $113,812,000 after buying an additional 1,942,524 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of SunTrust Banks by 3,009.4% during the second quarter. Lazard Asset Management LLC now owns 1,938,443 shares of the financial services provider’s stock worth $109,948,000 after buying an additional 1,876,101 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of SunTrust Banks by 31.4% during the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock worth $435,947,000 after buying an additional 1,742,756 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of SunTrust Banks by 70.6% during the second quarter. TIAA CREF Investment Management LLC now owns 3,534,925 shares of the financial services provider’s stock worth $200,501,000 after buying an additional 1,462,517 shares in the last quarter. Institutional investors own 82.32% of the company’s stock.

In related news, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.55% of the company’s stock.

Several research analysts have recently issued reports on STI shares. Nomura upped their price target on shares of SunTrust Banks from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, October 26th. Barclays PLC upped their price target on shares of SunTrust Banks from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. Robert W. Baird reiterated a “hold” rating and set a $55.00 price target on shares of SunTrust Banks in a report on Friday, August 25th. Credit Suisse Group upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $56.00 to $60.00 in a report on Monday, October 9th. Finally, Zacks Investment Research downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Eighteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $63.18.

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Shares of SunTrust Banks, Inc. (NYSE:STI) traded up $0.14 during midday trading on Thursday, hitting $57.78. 2,794,300 shares of the stock traded hands, compared to its average volume of 3,368,507. SunTrust Banks, Inc. has a 52-week low of $50.66 and a 52-week high of $61.69. The firm has a market capitalization of $27,438.55, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.55 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 (NYSE:STI) last posted its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.06. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. sell-side analysts forecast that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. SunTrust Banks’s dividend payout ratio is presently 41.03%.

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

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