SunTrust Banks, Inc. (STI) Holdings Reduced by Heritage Wealth Advisors

Heritage Wealth Advisors reduced its stake in SunTrust Banks, Inc. (NYSE:STI) by 4.1% during the 4th quarter, Holdings Channel reports. The firm owned 36,481 shares of the financial services provider’s stock after selling 1,550 shares during the period. SunTrust Banks makes up 1.0% of Heritage Wealth Advisors’ investment portfolio, making the stock its 16th largest position. Heritage Wealth Advisors’ holdings in SunTrust Banks were worth $2,357,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. SeaCrest Wealth Management LLC purchased a new position in SunTrust Banks in the fourth quarter valued at approximately $1,316,000. Aperio Group LLC increased its stake in SunTrust Banks by 6.6% in the fourth quarter. Aperio Group LLC now owns 322,678 shares of the financial services provider’s stock valued at $20,842,000 after purchasing an additional 19,911 shares during the last quarter. WealthTrust Axiom LLC purchased a new position in SunTrust Banks in the fourth quarter valued at approximately $202,000. Boston Partners increased its stake in SunTrust Banks by 3.2% in the fourth quarter. Boston Partners now owns 7,033,278 shares of the financial services provider’s stock valued at $454,279,000 after purchasing an additional 221,043 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in SunTrust Banks by 9.5% in the fourth quarter. Victory Capital Management Inc. now owns 6,359,543 shares of the financial services provider’s stock valued at $410,764,000 after purchasing an additional 549,640 shares during the last quarter. Institutional investors own 80.71% of the company’s stock.

Shares of SunTrust Banks, Inc. (NYSE STI) opened at $69.48 on Friday. The firm has a market capitalization of $32,720.29, a P/E ratio of 15.51, a PEG ratio of 1.30 and a beta of 1.37. SunTrust Banks, Inc. has a fifty-two week low of $51.96 and a fifty-two week high of $72.06. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the company earned $0.90 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. sell-side analysts predict that SunTrust Banks, Inc. will post 5.03 EPS for the current fiscal year.

In related news, Director Kyle P. Legg sold 3,300 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jerome T. Lienhard sold 29,248 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total value of $508,037.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,548 shares of company stock valued at $820,284. Corporate insiders own 0.55% of the company’s stock.

Several equities analysts have commented on the stock. Morgan Stanley increased their price target on shares of SunTrust Banks from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. BMO Capital Markets reiterated a “hold” rating and issued a $79.00 price target on shares of SunTrust Banks in a research note on Sunday, January 21st. B. Riley reiterated a “hold” rating and issued a $70.00 price target on shares of SunTrust Banks in a research note on Monday, January 22nd. Oppenheimer reiterated a “hold” rating on shares of SunTrust Banks in a research note on Monday, January 22nd. Finally, Vining Sparks reiterated a “buy” rating and issued a $85.00 price target on shares of SunTrust Banks in a research note on Monday, January 8th. Fifteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $69.02.

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SunTrust Banks 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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Institutional Ownership by Quarter for SunTrust Banks (NYSE:STI)

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