SunTrust Banks, Inc. (STI) Holdings Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its position in SunTrust Banks, Inc. (NYSE:STI) by 319.0% in the 2nd quarter, Holdings Channel reports. The firm owned 38,164 shares of the financial services provider’s stock after buying an additional 29,055 shares during the period. Advisors Asset Management Inc.’s holdings in SunTrust Banks were worth $2,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC boosted its holdings in shares of SunTrust Banks by 38.0% in the second quarter. Mount Yale Investment Advisors LLC now owns 5,428 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 1,496 shares in the last quarter. Global X Management Co LLC boosted its holdings in shares of SunTrust Banks by 28.3% in the second quarter. Global X Management Co LLC now owns 10,188 shares of the financial services provider’s stock valued at $673,000 after acquiring an additional 2,246 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of SunTrust Banks by 613.4% in the second quarter. Bank of Nova Scotia now owns 583,090 shares of the financial services provider’s stock valued at $38,495,000 after acquiring an additional 501,357 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of SunTrust Banks by 1.6% in the second quarter. California Public Employees Retirement System now owns 1,386,151 shares of the financial services provider’s stock valued at $91,514,000 after acquiring an additional 21,842 shares in the last quarter. Finally, BTC Capital Management Inc. boosted its holdings in shares of SunTrust Banks by 15.4% in the second quarter. BTC Capital Management Inc. now owns 89,209 shares of the financial services provider’s stock valued at $5,895,000 after acquiring an additional 11,878 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

In related news, EVP Jorge Arrieta sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $73.13, for a total transaction of $182,825.00. Following the completion of the sale, the executive vice president now directly owns 6,148 shares of the company’s stock, valued at $449,603.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by corporate insiders.



Several research firms have recently issued reports on STI. Morgan Stanley increased their price objective on shares of SunTrust Banks from $80.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 24th. Ameriprise Financial upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating in a report on Monday, July 23rd. B. Riley upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and increased their price objective for the company from $70.00 to $81.00 in a report on Monday, July 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price objective on shares of SunTrust Banks in a report on Monday, October 8th. Finally, Macquarie cut shares of SunTrust Banks to an “underperform” rating in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $77.00.

STI stock opened at $59.56 on Friday. SunTrust Banks, Inc. has a 12 month low of $56.30 and a 12 month high of $75.08. The company has a market cap of $27.81 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 1.02 and a beta of 1.29. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.65.

SunTrust Banks (NYSE:STI) last released its earnings results on Friday, October 19th. The financial services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.39 by $0.17. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business earned $1.06 earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts predict that SunTrust Banks, Inc. will post 5.61 earnings per share for the current fiscal year.

About SunTrust Banks

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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