Buckhead Capital Management LLC continued to hold its stake in shares of SunTrust Banks Inc. (NYSE:STI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,190 shares of the financial services provider’s stock at the end of the third quarter. Buckhead Capital Management LLC’s holdings in SunTrust Banks were worth $1,366,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in STI. American Century Companies Inc. raised its position in SunTrust Banks by 64.4% in the second quarter. American Century Companies Inc. now owns 8,267,226 shares of the financial services provider’s stock valued at $339,618,000 after buying an additional 3,238,624 shares during the period. FMR LLC raised its position in SunTrust Banks by 6.5% in the second quarter. FMR LLC now owns 31,288,755 shares of the financial services provider’s stock valued at $1,285,342,000 after buying an additional 1,918,166 shares during the period. Bank of New York Mellon Corp raised its position in SunTrust Banks by 28.4% in the second quarter. Bank of New York Mellon Corp now owns 7,066,156 shares of the financial services provider’s stock valued at $290,278,000 after buying an additional 1,564,929 shares during the period. Bank of Montreal Can bought a new position in SunTrust Banks during the second quarter valued at $55,797,000. Finally, Morgan Stanley raised its position in SunTrust Banks by 200.5% in the third quarter. Morgan Stanley now owns 1,944,915 shares of the financial services provider’s stock valued at $85,188,000 after buying an additional 1,297,734 shares during the period. 80.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of SunTrust Banks Inc. (NYSE:STI) traded down 0.96% during midday trading on Thursday, hitting $53.84. The stock had a trading volume of 3,232,778 shares. The stock has a market cap of $26.70 billion, a price-to-earnings ratio of 14.91 and a beta of 1.39. The firm’s 50-day moving average price is $54.90 and its 200-day moving average price is $47.13. SunTrust Banks Inc. has a 1-year low of $31.07 and a 1-year high of $56.97.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings data on Friday, October 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The company earned $2.20 billion during the quarter, compared to analyst estimates of $2.15 billion. SunTrust Banks had a return on equity of 8.18% and a net margin of 21.12%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. Analysts forecast that SunTrust Banks Inc. will post $3.57 earnings per share for the current year.
A number of research analysts recently weighed in on the company. RBC Capital Markets reissued a “buy” rating and set a $60.00 target price on shares of SunTrust Banks in a report on Wednesday, January 4th. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Saturday, December 31st. Barclays PLC boosted their target price on SunTrust Banks from $49.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 3rd. Standpoint Research lowered SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, November 15th. Finally, Compass Point lowered SunTrust Banks from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $48.00 to $54.00 in a report on Wednesday, November 23rd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. SunTrust Banks has an average rating of “Hold” and a consensus price target of $48.36.
In related news, insider Susan S. Johnson sold 794 shares of SunTrust Banks stock in a transaction on Monday, October 24th. The stock was sold at an average price of $45.58, for a total transaction of $36,190.52. Following the completion of the sale, the insider now owns 1,947 shares of the company’s stock, valued at $88,744.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aleem Gillani sold 8,583 shares of SunTrust Banks stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $45.90, for a total value of $393,959.70. Following the sale, the insider now directly owns 239,652 shares of the company’s stock, valued at approximately $11,000,026.80. The disclosure for this sale can be found here. Insiders have sold 19,536 shares of company stock valued at $952,293 in the last three months. 0.67% of the stock is owned by corporate insiders.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.
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