Affinity Investment Advisors LLC cut its position in SunTrust Banks, Inc. (NYSE:STI) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 264,391 shares of the financial services provider’s stock after selling 28,183 shares during the quarter. SunTrust Banks accounts for about 1.8% of Affinity Investment Advisors LLC’s holdings, making the stock its 11th biggest holding. Affinity Investment Advisors LLC owned about 0.05% of SunTrust Banks worth $15,803,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Fiduciary Trust Co. bought a new position in SunTrust Banks in the second quarter valued at about $118,000. Advisory Services Network LLC raised its position in 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 during the last quarter. Westwood Holdings Group Inc. bought a new position in SunTrust Banks in the second quarter valued at about $136,000. Independent Portfolio Consultants Inc. raised its position in SunTrust Banks by 184.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,648 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 1,718 shares during the last quarter. Finally, Huntington National Bank raised its position in 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 during the last quarter. Hedge funds and other institutional investors own 82.28% of the company’s stock.

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SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The business 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%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS.

In related news, insider Susan S. Johnson sold 808 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $57.34, for a total value of $46,330.72. Following the transaction, the insider now directly owns 3,515 shares of the company’s stock, valued at approximately $201,550.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.55% of the stock is owned by corporate insiders.

STI has been the subject of a number of analyst reports. Royal Bank Of Canada restated a “buy” rating and set a $60.00 price objective on shares of SunTrust Banks in a research report on Thursday, July 27th. Piper Jaffray Companies restated a “buy” rating and set a $63.00 price objective on shares of SunTrust Banks in a research report on Monday, August 28th. BidaskClub upgraded SunTrust Banks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Friday, September 22nd. Finally, Jefferies Group LLC restated a “buy” rating and set a $69.00 price objective on shares of SunTrust Banks in a research report on Thursday, October 12th. Nineteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $63.18.

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.

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

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