Public Employees Retirement System of Ohio decreased its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 9.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 209,761 shares of the financial services provider’s stock after selling 20,976 shares during the period. Public Employees Retirement System of Ohio’s holdings in SunTrust Banks were worth $13,848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Capital Group LLC lifted its stake in SunTrust Banks by 2,085.5% during the 1st quarter. Private Capital Group LLC now owns 1,508 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 1,439 shares in the last quarter. Trust Co. of Vermont lifted its stake in SunTrust Banks by 138.1% during the 2nd quarter. Trust Co. of Vermont now owns 1,905 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,105 shares in the last quarter. First Personal Financial Services lifted its stake in SunTrust Banks by 114.3% during the 1st quarter. First Personal Financial Services now owns 1,963 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 1,047 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in SunTrust Banks during the 2nd quarter worth about $134,000. Finally, Parallel Advisors LLC lifted its stake in SunTrust Banks by 52.2% during the 2nd quarter. Parallel Advisors LLC now owns 2,318 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 795 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Jorge Arrieta sold 2,500 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $73.13, for a total value of $182,825.00. Following the transaction, the executive vice president now owns 6,148 shares in the company, valued at approximately $449,603.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.52% of the company’s stock.

STI has been the topic of several research reports. BMO Capital Markets increased their target price on SunTrust Banks from $73.00 to $74.00 and gave the stock a “$72.58” rating in a research note on Monday, July 23rd. Barclays increased their target price on SunTrust Banks from $77.00 to $79.00 and gave the stock a “$72.58” rating in a research note on Monday, July 23rd. Jefferies Financial Group reissued a “buy” rating and set a $80.00 target price on shares of SunTrust Banks in a research note on Tuesday, July 24th. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Monday, July 16th. Finally, Argus raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $72.73.

Shares of NYSE STI opened at $70.86 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.54. SunTrust Banks, Inc. has a 1-year low of $56.30 and a 1-year high of $75.08. The stock has a market cap of $32.65 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.09 and a beta of 1.26.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, July 20th. The financial services provider reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.19. SunTrust Banks had a return on equity of 10.94% and a net margin of 26.41%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the business earned $1.03 EPS. SunTrust Banks’s revenue was up 3.9% on a year-over-year basis. research analysts expect that SunTrust Banks, Inc. will post 5.59 earnings per share for the current fiscal year.

SunTrust Banks declared that its board has approved a share repurchase plan on Thursday, June 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.82%. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.40. SunTrust Banks’s dividend payout ratio is presently 49.50%.

SunTrust Banks Company Profile

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through 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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