SunTrust Banks, Inc. (STI) Shares Bought by Kiwi Wealth Investments Limited Partnership
Kiwi Wealth Investments Limited Partnership grew its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,414 shares of the financial services provider’s stock after acquiring an additional 16,944 shares during the quarter. SunTrust Banks comprises 1.6% of Kiwi Wealth Investments Limited Partnership’s investment portfolio, making the stock its 20th largest position. Kiwi Wealth Investments Limited Partnership’s holdings in SunTrust Banks were worth $13,294,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of STI. Fiduciary Trust Co. purchased a new position in shares of SunTrust Banks during the 2nd quarter valued at about $118,000. Advisory Services Network LLC raised its holdings in shares of SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of SunTrust Banks during the 2nd quarter valued at about $136,000. Dupont Capital Management Corp raised its holdings in shares of SunTrust Banks by 55.2% during the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after buying an additional 933 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of SunTrust Banks by 2.9% during the 2nd quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock valued at $159,000 after buying an additional 80 shares in the last quarter. Hedge funds and other 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 business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total value of $72,006.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.55% of the company’s stock.
SunTrust Banks, Inc. (NYSE:STI) traded up $0.31 during trading on Wednesday, reaching $57.64. The company’s stock had a trading volume of 3,080,700 shares, compared to its average volume of 3,371,117. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. SunTrust Banks, Inc. has a twelve month low of $50.66 and a twelve month high of $61.69. The company has a market capitalization of $27,290.98, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. equities analysts expect that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
A number of brokerages recently weighed in on STI. UBS AG reissued a “neutral” rating and set a $62.00 price objective (up from $61.00) on shares of SunTrust Banks in a report on Friday, October 6th. Citigroup Inc. cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 price objective on shares of SunTrust Banks in a report on Monday, October 23rd. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Tuesday, October 10th. Finally, FBR & Co reissued a “hold” rating and set a $62.00 price objective on shares of SunTrust Banks in a report on Friday, October 20th. Nineteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.18.
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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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