SunTrust Banks, Inc. (STI) Shares Bought by Comerica Bank
Comerica Bank lifted its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,706 shares of the financial services provider’s stock after buying an additional 3,098 shares during the period. Comerica Bank’s holdings in SunTrust Banks were worth $8,673,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of SunTrust Banks by 0.7% during the second quarter. Vanguard Group Inc. now owns 32,947,441 shares of the financial services provider’s stock worth $1,868,780,000 after buying an additional 227,501 shares in the last quarter. FMR LLC grew its stake in shares of SunTrust Banks by 4.3% in the second quarter. FMR LLC now owns 29,614,981 shares of the financial services provider’s stock worth $1,679,761,000 after purchasing an additional 1,219,272 shares during the last quarter. Capital World Investors grew its stake in shares of SunTrust Banks by 20.7% in the second quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock worth $1,673,982,000 after purchasing an additional 5,056,000 shares during the last quarter. American Century Companies Inc. grew its stake in shares of SunTrust Banks by 31.4% in the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock worth $435,947,000 after purchasing an additional 1,742,756 shares during the last quarter. Finally, Boston Partners grew its stake in shares of SunTrust Banks by 6.8% in the third quarter. Boston Partners now owns 6,812,235 shares of the financial services provider’s stock worth $407,167,000 after purchasing an additional 433,042 shares during the last quarter. Institutional investors own 82.32% of the company’s stock.
In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.82, for a total value of $72,006.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.
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STI has been the topic of several analyst reports. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of SunTrust Banks in a research note on Sunday, July 23rd. Morgan Stanley reissued an “underweight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of SunTrust Banks in a research note on Tuesday, July 25th. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 price objective on shares of SunTrust Banks in a research note on Thursday, July 27th. Wells Fargo & Company initiated coverage on shares of SunTrust Banks in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $63.00 price objective on shares of SunTrust Banks in a research note on Monday, August 28th. Eighteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. SunTrust Banks presently has a consensus rating of “Hold” and an average price target of $63.18.
Shares of SunTrust Banks, Inc. (NYSE STI) opened at $57.77 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market cap of $27,500.43, a PE ratio of 14.97, a P/E/G ratio of 1.56 and a beta of 1.29. SunTrust Banks, Inc. has a fifty-two week low of $51.06 and a fifty-two week high of $61.69.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.06. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a net margin of 20.88% and a return on equity of 8.83%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. analysts expect that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.60 annualized dividend and a yield of 2.77%. SunTrust Banks’s dividend payout ratio (DPR) is 41.03%.
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.
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