Gratus Capital LLC cut its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,210 shares of the financial services provider’s stock after selling 1,000 shares during the period. Gratus Capital LLC’s holdings in SunTrust Banks were worth $1,770,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in STI. State of Alaska Department of Revenue acquired a new position in shares of SunTrust Banks during the first quarter valued at approximately $224,000. Russell Investments Group Ltd. raised its position in shares of SunTrust Banks by 15.6% in the first quarter. Russell Investments Group Ltd. now owns 653,525 shares of the financial services provider’s stock valued at $36,143,000 after buying an additional 88,168 shares during the period. 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 valued at $105,000 after buying an additional 58 shares during the period. Essex Investment Management Co. LLC raised its position in shares of SunTrust Banks by 90.4% in the first quarter. Essex Investment Management Co. LLC now owns 51,024 shares of the financial services provider’s stock valued at $2,822,000 after buying an additional 24,224 shares during the period. Finally, North Star Investment Management Corp. raised its position in shares of SunTrust Banks by 5.3% in the first quarter. North Star Investment Management Corp. now owns 63,868 shares of the financial services provider’s stock valued at $3,532,000 after buying an additional 3,191 shares during the period. 81.20% of the stock is currently owned by institutional investors and hedge funds.

SunTrust Banks, Inc. (NYSE STI) opened at 55.27 on Wednesday. The stock has a market cap of $26.62 billion, a P/E ratio of 14.70 and a beta of 1.33. The stock has a 50 day moving average price of $56.91 and a 200-day moving average price of $56.63. SunTrust Banks, Inc. has a 12-month low of $42.36 and a 12-month high of $61.69.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, July 21st. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.29 billion. SunTrust Banks had a return on equity of 8.48% and a net margin of 20.51%. SunTrust Banks’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. On average, equities analysts expect that SunTrust Banks, Inc. will post $4.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.40 per share. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.60 annualized dividend and a yield of 2.90%. SunTrust Banks’s dividend payout ratio (DPR) is presently 27.73%.

SunTrust Banks declared that its board has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.32 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: “SunTrust Banks, Inc. (STI) Position Decreased by Gratus Capital LLC” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://www.watchlistnews.com/suntrust-banks-inc-sti-position-decreased-by-gratus-capital-llc/1531992.html.

STI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price target on shares of SunTrust Banks in a research note on Friday, May 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price target on shares of SunTrust Banks in a research note on Thursday, May 18th. Robert W. Baird raised SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $52.00 price target on the stock in a research note on Monday, June 5th. BidaskClub raised SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Instinet reissued a “neutral” rating and set a $61.00 target price on shares of SunTrust Banks in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.39.

In other SunTrust Banks news, insider Susan S. Johnson sold 808 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $57.34, for a total transaction of $46,330.72. Following the completion of the transaction, the insider now owns 3,515 shares of the company’s stock, valued at $201,550.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

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.

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

Receive News & Ratings for SunTrust Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.