Shayne & CO. LLC Acquires New Holdings in SunTrust Banks, Inc. (STI)

Shayne & CO. LLC acquired a new stake in shares of SunTrust Banks, Inc. (NYSE:STI) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,020 shares of the financial services provider’s stock, valued at approximately $202,000. SunTrust Banks accounts for approximately 0.1% of Shayne & CO. LLC’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Co. of Vermont lifted its stake in SunTrust Banks by 138.1% in the second quarter. Trust Co. of Vermont now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,105 shares in the last quarter. Denali Advisors LLC bought a new position in SunTrust Banks in the third quarter valued at approximately $127,000. Flagship Harbor Advisors LLC bought a new position in SunTrust Banks in the second quarter valued at approximately $134,000. Parallel Advisors LLC lifted 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 buying an additional 795 shares in the last quarter. Finally, Oakworth Capital Inc. lifted its stake in SunTrust Banks by 117.0% in the third quarter. Oakworth Capital Inc. now owns 2,300 shares of the financial services provider’s stock valued at $154,000 after buying an additional 1,240 shares in the last quarter. Hedge funds and other institutional investors own 84.13% of the company’s stock.

NYSE:STI opened at $60.18 on Tuesday. SunTrust Banks, Inc. has a one year low of $56.30 and a one year high of $75.08. The firm has a market capitalization of $27.44 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.95.



SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 EPS for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the company posted $1.06 earnings per share. SunTrust Banks’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that SunTrust Banks, Inc. will post 5.61 earnings per share for the current fiscal year.

In related news, EVP Jorge Arrieta sold 2,500 shares of the company’s stock in a transaction dated 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 directly owns 6,148 shares in the company, valued at $449,603.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.52% of the company’s stock.

STI has been the topic of a number of research reports. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price objective on shares of SunTrust Banks in a research report on Tuesday, July 24th. B. Riley upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $81.00 in a report on Monday, July 23rd. Barclays upped their price objective on shares of SunTrust Banks from $77.00 to $79.00 and gave the company a “$72.58” rating in a report on Monday, July 23rd. Macquarie downgraded shares of SunTrust Banks to an “underperform” rating in a report on Monday, July 23rd. Finally, Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Monday, July 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $77.00.

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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