Louisiana State Employees Retirement System Sells 1,200 Shares of SunTrust Banks, Inc. (STI)
Louisiana State Employees Retirement System cut its position in SunTrust Banks, Inc. (NYSE:STI) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,800 shares of the financial services provider’s stock after selling 1,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in SunTrust Banks were worth $1,860,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mountain Pacific Investment Advisers Inc. ID boosted its stake in SunTrust Banks by 242.7% in the 3rd quarter. Mountain Pacific Investment Advisers Inc. ID now owns 23,017 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 16,300 shares during the period. Whittier Trust Co. lifted its position in shares of SunTrust Banks by 119.9% during the 3rd quarter. Whittier Trust Co. now owns 4,197 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 2,288 shares during the period. Highstreet Asset Management Inc. bought a new stake in shares of SunTrust Banks during the 3rd quarter valued at $778,000. Commerce Bank lifted its position in shares of SunTrust Banks by 293.8% during the 3rd quarter. Commerce Bank now owns 17,967 shares of the financial services provider’s stock valued at $1,074,000 after acquiring an additional 13,405 shares during the period. Finally, Bank of Stockton lifted its position in shares of SunTrust Banks by 17.8% during the 3rd quarter. Bank of Stockton now owns 12,190 shares of the financial services provider’s stock valued at $728,000 after acquiring an additional 1,840 shares during the period. Institutional investors and hedge funds own 80.71% of the company’s stock.
In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was 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 accessible through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.
SunTrust Banks, Inc. (NYSE:STI) opened at $67.94 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. SunTrust Banks, Inc. has a fifty-two week low of $51.96 and a fifty-two week high of $69.56. The company has a market capitalization of $32,536.87, a price-to-earnings ratio of 17.42, a PEG ratio of 1.36 and a beta of 1.29.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. SunTrust Banks’s revenue was up 3.7% on a year-over-year basis. research analysts expect that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on STI shares. Nomura upped their target price on SunTrust Banks from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Barclays upped their target price on SunTrust Banks from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Wedbush downgraded SunTrust Banks from an “outperform” rating to a “neutral” rating and cut their target price for the company from $71.00 to $63.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $77.00 target price on shares of SunTrust Banks in a research report on Friday, December 29th. Finally, Robert W. Baird reiterated a “hold” rating and set a $55.00 target price on shares of SunTrust Banks in a research report on Sunday, October 1st. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.88.
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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.
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