Hudson Valley Investment Advisors Inc. ADV trimmed its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 28.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,598 shares of the financial services provider’s stock after selling 20,321 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in SunTrust Banks were worth $2,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of STI. Panagora Asset Management Inc. grew its position in SunTrust Banks by 116.8% during the third quarter. Panagora Asset Management Inc. now owns 46,069 shares of the financial services provider’s stock worth $3,077,000 after buying an additional 24,823 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of SunTrust Banks by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 9,894 shares of the financial services provider’s stock worth $661,000 after purchasing an additional 1,010 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of SunTrust Banks by 81.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,218 shares of the financial services provider’s stock worth $1,622,000 after purchasing an additional 10,905 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of SunTrust Banks by 175.7% in the 3rd quarter. Fifth Third Bancorp now owns 22,047 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 14,050 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of SunTrust Banks by 28.3% in the 3rd quarter. LPL Financial LLC now owns 79,924 shares of the financial services provider’s stock worth $5,338,000 after purchasing an additional 17,638 shares in the last quarter. Institutional investors and hedge funds own 81.15% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut SunTrust Banks from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine cut SunTrust Banks from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Wells Fargo & Co reiterated a “buy” rating on shares of SunTrust Banks in a report on Monday, March 18th. Morgan Stanley reiterated an “equal weight” rating and issued a $73.00 price objective (down from $80.00) on shares of SunTrust Banks in a report on Monday, March 11th. Finally, UBS Group cut SunTrust Banks from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $68.00 to $71.00 in a report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $71.20.

Shares of STI stock opened at $61.07 on Wednesday. The stock has a market cap of $27.05 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.28 and a beta of 1.54. SunTrust Banks, Inc. has a 1-year low of $46.05 and a 1-year high of $75.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.95 and a quick ratio of 0.94.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, January 18th. The financial services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.10. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. SunTrust Banks’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 EPS. As a group, equities research analysts expect that SunTrust Banks, Inc. will post 5.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Wednesday, February 27th. SunTrust Banks’s payout ratio is 35.09%.

In other SunTrust Banks news, EVP Jorge Arrieta sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $66.25, for a total transaction of $265,000.00. Following the completion of the transaction, the executive vice president now owns 8,662 shares of the company’s stock, valued at approximately $573,857.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total value of $653,800.00. Following the transaction, the insider now directly owns 205,846 shares of the company’s stock, valued at approximately $13,458,211.48. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

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SunTrust Banks Profile

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.

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

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