Hellman Jordan Management Co. Inc. MA bought a new position in SunTrust Banks, Inc. (NYSE:STI) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 8,353 shares of the financial services provider’s stock, valued at approximately $499,000.

Other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC boosted its stake in shares of 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 worth $121,000 after purchasing an additional 20 shares during the period. Intrust Bank NA boosted its stake in shares of SunTrust Banks by 0.4% during the 2nd quarter. Intrust Bank NA now owns 16,568 shares of the financial services provider’s stock worth $940,000 after purchasing an additional 70 shares during the period. Cadence Capital Management LLC boosted its stake in shares of SunTrust Banks by 0.4% during the 2nd quarter. Cadence Capital Management LLC now owns 20,181 shares of the financial services provider’s stock worth $1,145,000 after purchasing an additional 88 shares during the period. Balentine LLC boosted its stake in shares of SunTrust Banks by 2.9% during the 2nd quarter. Balentine LLC now owns 3,148 shares of the financial services provider’s stock worth $179,000 after purchasing an additional 90 shares during the period. Finally, Krilogy Financial LLC boosted its stake in shares of SunTrust Banks by 1.8% during the 2nd quarter. Krilogy Financial LLC now owns 5,153 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 80.83% of the company’s stock.

In other news, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.

A number of equities analysts recently commented on STI shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $63.00 price target on shares of SunTrust Banks in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Friday, September 22nd. Jefferies Group reissued a “buy” rating and issued a $69.00 price objective on shares of SunTrust Banks in a research report on Thursday, October 12th. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 price objective on shares of SunTrust Banks in a research report on Monday, October 23rd. Finally, UBS raised shares of SunTrust Banks from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $73.00 in a research report on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $64.58.

Shares of SunTrust Banks, Inc. (NYSE:STI) traded down $0.52 on Friday, hitting $64.05. 5,026,000 shares of the stock traded hands, compared to its average volume of 3,412,155. SunTrust Banks, Inc. has a 52-week low of $51.96 and a 52-week high of $66.11. The stock has a market cap of $30,727.95, a PE ratio of 16.72, a PEG ratio of 1.74 and a beta of 1.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93.

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 the consensus estimate 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 quarter in the prior year, the company earned $0.91 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. equities analysts expect that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.40 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.50%. SunTrust Banks’s payout ratio is presently 41.03%.

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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)

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