Sterling Capital Management LLC lessened its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 12.1% in the 4th quarter, HoldingsChannel reports. The fund owned 182,854 shares of the financial services provider’s stock after selling 25,161 shares during the period. Sterling Capital Management LLC’s holdings in SunTrust Banks were worth $11,811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Advisor Group Inc. grew its holdings in SunTrust Banks by 3.9% during the 4th quarter. Advisor Group Inc. now owns 21,547 shares of the financial services provider’s stock worth $1,393,000 after acquiring an additional 811 shares in the last quarter. Columbia Partners L L C Investment Management boosted its holdings in shares of SunTrust Banks by 22.2% in the 4th quarter. Columbia Partners L L C Investment Management now owns 4,519 shares of the financial services provider’s stock valued at $291,000 after buying an additional 821 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of SunTrust Banks by 107.5% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $105,000 after buying an additional 843 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of SunTrust Banks by 5.1% in the 4th quarter. Signaturefd LLC now owns 17,818 shares of the financial services provider’s stock valued at $1,151,000 after buying an additional 866 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in shares of SunTrust Banks by 3.6% in the 4th quarter. Raymond James Trust N.A. now owns 24,957 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 871 shares in the last quarter. Institutional investors own 83.59% of the company’s stock.

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Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Wednesday. Keefe, Bruyette & Woods upgraded shares of SunTrust Banks from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 12th. Credit Suisse Group restated a “neutral” rating and issued a $73.00 target price (up previously from $71.00) on shares of SunTrust Banks in a report on Wednesday, March 14th. UBS upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $73.00 in a report on Tuesday, December 12th. Finally, BMO Capital Markets restated a “hold” rating and issued a $79.00 target price on shares of SunTrust Banks in a report on Sunday, January 21st. Fifteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. SunTrust Banks presently has an average rating of “Hold” and a consensus price target of $69.61.

Shares of SunTrust Banks stock opened at $70.87 on Thursday. The firm has a market cap of $33,094.77, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.12 and a beta of 1.33. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 0.93. SunTrust Banks, Inc. has a 52 week low of $51.96 and a 52 week high of $73.37.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. SunTrust Banks’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. analysts forecast that SunTrust Banks, Inc. will post 5.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. SunTrust Banks’s payout ratio is currently 35.71%.

In other SunTrust Banks news, EVP Jerome T. Lienhard sold 29,248 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $17.37, for a total transaction of $508,037.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan S. Johnson sold 3,600 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $71.04, for a total transaction of $255,744.00. Following the transaction, the insider now owns 8,857 shares of the company’s stock, valued at approximately $629,201.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,348 shares of company stock valued at $1,289,757. 0.52% of the stock is owned by insiders.

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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.

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

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