Pinnacle Financial Partners Inc. cut its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,935 shares of the financial services provider’s stock after selling 1,229 shares during the period. Pinnacle Financial Partners Inc.’s holdings in SunTrust Banks were worth $1,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Trust Co. acquired a new stake in shares of SunTrust Banks during the second quarter valued at about $118,000. Advisory Services Network LLC grew its holdings in shares of SunTrust Banks by 0.9% in the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 20 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of SunTrust Banks in the second quarter valued at approximately $136,000. Dupont Capital Management Corp grew its holdings in shares of SunTrust Banks by 55.2% in the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 933 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of SunTrust Banks by 2.9% in the second quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Shares of SunTrust Banks, Inc. (STI) traded up $0.40 during trading hours on Tuesday, hitting $58.17. 2,433,000 shares of the stock traded hands, compared to its average volume of 3,358,854. The stock has a market cap of $27,500.00, a P/E ratio of 14.97, a PEG ratio of 1.56 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 twelve month low of $51.13 and a twelve month high of $61.69.

SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. equities research analysts expect that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.75%. SunTrust Banks’s payout ratio is 41.03%.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.dailypolitical.com/2017/11/21/suntrust-banks-inc-sti-holdings-decreased-by-pinnacle-financial-partners-inc.html.

A number of research analysts recently weighed in on STI shares. Credit Suisse Group upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $56.00 to $60.00 in a report on Monday, October 9th. Barclays PLC lifted their price objective on shares of SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Raymond James Financial, Inc. cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 price objective on shares of SunTrust Banks in a report on Thursday, July 27th. Finally, Robert W. Baird restated a “hold” rating and issued a $55.00 price objective on shares of SunTrust Banks in a report on Friday, August 25th. Eighteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $63.18.

In other news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

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.

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

Receive News & Ratings for SunTrust Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.