Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in SunTrust Banks, Inc. (NYSE:STI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 51,064 shares of the financial services provider’s stock, valued at approximately $3,037,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fiduciary Trust Co. bought a new stake in shares of SunTrust Banks in the 2nd quarter valued at approximately $118,000. Advisory Services Network LLC grew its stake in shares of SunTrust Banks by 0.9% in 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. bought a new stake in shares of SunTrust Banks in the 2nd quarter valued at approximately $136,000. Dupont Capital Management Corp grew its stake in shares of SunTrust Banks by 55.2% in 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 grew its stake in shares of SunTrust Banks by 2.9% in 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. 82.32% of the stock is owned by institutional investors and hedge funds.
In related news, Director Kyle P. Legg sold 3,300 shares of the company’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.
SunTrust Banks, Inc. (NYSE:STI) opened at $57.33 on Tuesday. 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 company has a market capitalization of $27,290.00, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.53 and a beta of 1.29. SunTrust Banks, Inc. has a 12 month low of $50.66 and a 12 month high of $61.69.
SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 20th. The financial services provider reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. SunTrust Banks’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. research analysts predict that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
Several equities research analysts recently commented on STI shares. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of SunTrust Banks in a research note on Sunday, July 23rd. Morgan Stanley reaffirmed an “underweight” rating and set a $63.00 target price (up previously from $62.00) on shares of SunTrust Banks in a research report on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 target price on shares of SunTrust Banks in a research report on Thursday, July 27th. Wells Fargo & Company began coverage on SunTrust Banks in a research report on Wednesday, August 9th. They set an “outperform” rating and a $70.00 target price for the company. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $63.00 target price on shares of SunTrust Banks in a research report on Monday, August 28th. Nineteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.18.
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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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