Exxonmobil Investment Management Inc. TX reduced its position in SunTrust Banks, Inc. (NYSE:STI) by 14.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,827 shares of the financial services provider’s stock after selling 16,299 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in SunTrust Banks were worth $5,265,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. raised its position in shares of SunTrust Banks by 3.1% in the first quarter. Whittier Trust Co. now owns 1,909 shares of the financial services provider’s stock worth $105,000 after buying an additional 58 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of SunTrust Banks by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 1,893 shares of the financial services provider’s stock worth $105,000 after buying an additional 18 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of SunTrust Banks during the first quarter worth approximately $117,000. Bronfman E.L. Rothschild L.P. raised its position in shares of SunTrust Banks by 9.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,269 shares of the financial services provider’s stock worth $125,000 after buying an additional 192 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. raised its position in shares of 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 worth $150,000 after buying an additional 1,718 shares in the last quarter. Hedge funds and other institutional investors own 81.84% of the company’s stock.

SunTrust Banks, Inc. (STI) opened at 56.60 on Monday. The firm has a market capitalization of $27.49 billion, a price-to-earnings ratio of 15.42 and a beta of 1.33. SunTrust Banks, Inc. has a 1-year low of $41.07 and a 1-year high of $61.69. The firm’s 50-day moving average is $55.13 and its 200-day moving average is $56.32.

SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, April 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.21 billion. SunTrust Banks had a net margin of 20.32% and a return on equity of 8.14%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. On average, equities analysts anticipate that SunTrust Banks, Inc. will post $3.96 EPS for the current year.

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STI has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 price objective on shares of SunTrust Banks in a report on Thursday, May 18th. Jefferies Group LLC raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Monday, April 3rd. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, March 28th. Rafferty Capital Markets boosted their target price on shares of SunTrust Banks from $63.00 to $64.50 and gave the stock a “buy” rating in a research report on Monday, April 24th. Finally, FBR & Co set a $65.00 target price on shares of SunTrust Banks and gave the stock a “buy” rating in a research report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. SunTrust Banks has an average rating of “Hold” and a consensus price target of $57.39.

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.

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

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