Creative Planning increased its stake in SunTrust Banks, Inc. (NYSE:STI) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,766 shares of the financial services provider’s stock after buying an additional 348 shares during the period. Creative Planning’s holdings in SunTrust Banks were worth $2,936,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in STI. Whittier Trust Co. boosted its stake 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 valued at $105,000 after buying an additional 58 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake 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 valued at $105,000 after buying an additional 18 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of SunTrust Banks during the first quarter valued at approximately $117,000. Bronfman E.L. Rothschild L.P. boosted its stake 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 valued at $125,000 after buying an additional 192 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its stake 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 valued at $150,000 after buying an additional 1,718 shares during the last quarter. 81.84% of the stock is currently owned by institutional investors.

Shares of SunTrust Banks, Inc. (NYSE:STI) opened at 56.60 on Monday. SunTrust Banks, Inc. has a 12-month low of $41.07 and a 12-month high of $61.69. The stock’s 50 day moving average is $55.13 and its 200-day moving average is $56.32. The stock has a market cap of $27.49 billion, a price-to-earnings ratio of 15.42 and a beta of 1.33.

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

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Several analysts have commented on the stock. BidaskClub cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Instinet restated a “neutral” rating and set a $61.00 price objective on shares of SunTrust Banks in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods set a $58.00 price objective on shares of SunTrust Banks and gave the company a “hold” rating in a research note on Thursday, July 6th. Robert W. Baird upgraded shares of SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $52.00 price objective for the company in a research note on Monday, June 5th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $60.00 price objective on shares of SunTrust Banks in a research note on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price 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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