CIBC World Markets Inc. lowered its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 39.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,644 shares of the financial services provider’s stock after selling 17,047 shares during the period. CIBC World Markets Inc.’s holdings in SunTrust Banks were worth $1,579,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of STI. Norges Bank acquired a new position in shares of SunTrust Banks during the 4th quarter worth $204,713,000. Oregon Public Employees Retirement Fund raised its holdings in shares of SunTrust Banks by 4,883.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,581,469 shares of the financial services provider’s stock worth $51,000 after buying an additional 2,529,671 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in shares of SunTrust Banks during the 1st quarter worth $114,713,000. Boston Partners raised its holdings in shares of SunTrust Banks by 43.7% during the 1st quarter. Boston Partners now owns 6,241,376 shares of the financial services provider’s stock worth $369,802,000 after buying an additional 1,898,260 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of SunTrust Banks by 21,740.3% during the 4th quarter. Bessemer Group Inc. now owns 1,416,126 shares of the financial services provider’s stock worth $71,429,000 after buying an additional 1,409,642 shares in the last quarter. 80.20% of the stock is owned by institutional investors.

A number of equities analysts have recently commented on STI shares. ValuEngine raised SunTrust Banks from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Sanford C. Bernstein cut SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 price target for the company. in a report on Friday, February 8th. Macquarie raised SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 price target for the company in a report on Friday, February 8th. Sandler O’Neill cut SunTrust Banks from a “buy” rating to a “hold” rating and set a $69.00 price target for the company. in a report on Friday, February 8th. Finally, Keefe, Bruyette & Woods cut SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Friday, February 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. SunTrust Banks has an average rating of “Hold” and an average target price of $70.65.

Shares of STI opened at $60.47 on Tuesday. SunTrust Banks, Inc. has a 12-month low of $46.05 and a 12-month high of $75.08. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $26.63 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.31 and a beta of 1.53.

SunTrust Banks (NYSE:STI) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. SunTrust Banks had a return on equity of 12.22% and a net margin of 25.26%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts forecast that SunTrust Banks, Inc. will post 5.79 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.50 dividend. The ex-dividend date is Thursday, May 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.31%. SunTrust Banks’s payout ratio is presently 35.09%.

In other news, insider Robert Ryan Richards sold 1,844 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $62.58, for a total value of $115,397.52. Following the completion of the sale, the insider now owns 2,083 shares of the company’s stock, valued at $130,354.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Mark A. Chancy sold 41,882 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $63.10, for a total value of $2,642,754.20. Following the completion of the sale, the insider now directly owns 228,130 shares of the company’s stock, valued at approximately $14,395,003. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,332 shares of company stock valued at $3,177,368. Insiders own 0.42% of the company’s stock.

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SunTrust Banks Company 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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