SunTrust Banks, Inc. (STI) Stake Raised by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lifted its position in SunTrust Banks, Inc. (NYSE:STI) by 78.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 517,589 shares of the financial services provider’s stock after purchasing an additional 227,097 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in SunTrust Banks were worth $34,570,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fortis Advisors LLC raised its stake in SunTrust Banks by 13.4% in the second quarter. Fortis Advisors LLC now owns 6,380 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 755 shares in the last quarter. Trust Co raised its stake in SunTrust Banks by 23.9% in the first quarter. Trust Co now owns 4,118 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 794 shares in the last quarter. Parallel Advisors LLC raised its stake in SunTrust Banks by 52.2% in the second quarter. Parallel Advisors LLC now owns 2,318 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 795 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its stake in SunTrust Banks by 1.8% in the second quarter. Beacon Investment Advisory Services Inc. now owns 45,648 shares of the financial services provider’s stock valued at $3,014,000 after purchasing an additional 797 shares in the last quarter. Finally, Huntington National Bank raised its stake in SunTrust Banks by 9.5% in the third quarter. Huntington National Bank now owns 9,704 shares of the financial services provider’s stock valued at $648,000 after purchasing an additional 839 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

STI stock opened at $59.56 on Friday. The company has a market cap of $27.44 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.00 and a beta of 1.29. SunTrust Banks, Inc. has a one year low of $56.30 and a one year high of $75.08. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.



SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.39 by $0.17. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.35 billion. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. The business’s revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share. On average, analysts anticipate that SunTrust Banks, Inc. will post 5.61 EPS for the current year.

In other news, EVP Jorge Arrieta sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were 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 $449,603.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on STI. Edward Jones began coverage on shares of SunTrust Banks in a research note on Tuesday, August 28th. They issued a “hold” rating on the stock. Ameriprise Financial raised shares of SunTrust Banks from a “neutral” rating to a “buy” rating in a research note on Monday, July 23rd. Morgan Stanley raised their target price on shares of SunTrust Banks from $80.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, July 24th. Jefferies Financial Group reissued a “buy” rating and set a $80.00 price target on shares of SunTrust Banks in a research note on Tuesday, July 24th. Finally, Argus lifted their price target on shares of SunTrust Banks to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. SunTrust Banks presently has a consensus rating of “Hold” and a consensus price target of $77.00.

SunTrust Banks 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.

Further Reading: What is a bull market?

Want to see what other hedge funds are holding STI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunTrust Banks, Inc. (NYSE:STI).

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

Receive News & Ratings for SunTrust Banks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply