Crossmark Global Holdings Inc. Sells 2,496 Shares of SunTrust Banks, Inc. (STI)
Crossmark Global Holdings Inc. lowered its position in SunTrust Banks, Inc. (NYSE:STI) by 5.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 46,029 shares of the financial services provider’s stock after selling 2,496 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in SunTrust Banks were worth $2,973,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC increased its holdings in SunTrust Banks by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 20 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in SunTrust Banks in the 2nd quarter worth about $136,000. Tiedemann Wealth Management LLC increased its holdings in SunTrust Banks by 12.1% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 2,920 shares during the last quarter. Dupont Capital Management Corp increased its holdings in SunTrust Banks by 55.2% in the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 933 shares during the last quarter. Finally, Blue Granite Capital LLC purchased a new stake in SunTrust Banks in the 3rd quarter worth about $177,000. 81.82% of the stock is owned by institutional investors.
STI has been the subject of several recent research reports. UBS Group raised SunTrust Banks from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $73.00 in a report on Tuesday, December 12th. Royal Bank of Canada reaffirmed a “buy” rating and set a $65.00 target price on shares of SunTrust Banks in a report on Monday, October 23rd. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $77.00 target price on shares of SunTrust Banks in a report on Friday, December 29th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $74.00 target price on shares of SunTrust Banks in a report on Thursday, January 4th. Fifteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $69.02.
Shares of SunTrust Banks, Inc. (NYSE:STI) opened at $67.48 on Friday. The stock has a market capitalization of $32,940.00, a PE ratio of 15.06, a PEG ratio of 1.23 and a beta of 1.37. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. SunTrust Banks, Inc. has a 12-month low of $51.96 and a 12-month high of $72.06.
SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.04. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. sell-side analysts forecast that SunTrust Banks, Inc. will post 5.04 earnings per share for the current year.
SunTrust Banks Company 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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