Sanders Capital LLC decreased its position in shares of SunTrust Banks Inc. (NYSE:STI) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,219,295 shares of the financial services provider’s stock after selling 661 shares during the period. SunTrust Banks accounts for about 1.1% of Sanders Capital LLC’s portfolio, making the stock its 27th largest position. Sanders Capital LLC owned about 0.64% of SunTrust Banks worth $134,702,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. TIAA CREF Investment Management LLC increased its stake in shares of SunTrust Banks by 10.6% in the first quarter. TIAA CREF Investment Management LLC now owns 1,775,263 shares of the financial services provider’s stock worth $64,051,000 after buying an additional 170,790 shares during the last quarter. BlackRock Group LTD increased its stake in shares of SunTrust Banks by 3.5% in the first quarter. BlackRock Group LTD now owns 4,909,411 shares of the financial services provider’s stock worth $177,132,000 after buying an additional 163,982 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of SunTrust Banks by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 13,808,075 shares of the financial services provider’s stock worth $498,195,000 after buying an additional 329,018 shares during the last quarter. BlackRock Japan Co. Ltd increased its stake in shares of SunTrust Banks by 1.3% in the first quarter. BlackRock Japan Co. Ltd now owns 663,162 shares of the financial services provider’s stock worth $23,927,000 after buying an additional 8,561 shares during the last quarter. Finally, Sentry Investment Management LLC increased its stake in shares of SunTrust Banks by 5.0% in the first quarter. Sentry Investment Management LLC now owns 39,730 shares of the financial services provider’s stock worth $1,433,000 after buying an additional 1,893 shares during the last quarter. 82.37% of the stock is currently owned by hedge funds and other institutional investors.

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

SunTrust Banks Inc. (NYSE:STI) traded down 0.22% during mid-day trading on Friday, hitting $45.69. The stock had a trading volume of 2,819,290 shares. SunTrust Banks Inc. has a one year low of $31.07 and a one year high of $46.21. The company has a market cap of $22.91 billion, a PE ratio of 12.37 and a beta of 1.31. The firm’s 50-day moving average price is $43.70 and its 200 day moving average price is $41.65.

SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, July 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The business earned $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 EPS. On average, equities research analysts anticipate that SunTrust Banks Inc. will post $3.51 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.26 dividend. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 2.28%. The ex-dividend date was Monday, August 29th. SunTrust Banks’s dividend payout ratio is currently 28.18%.

A number of analysts have recently issued reports on STI shares. Deutsche Bank AG reaffirmed a “buy” rating on shares of SunTrust Banks in a report on Wednesday, June 15th. Portales Partners upgraded shares of SunTrust Banks from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, June 28th. BMO Capital Markets reiterated a “hold” rating and issued a $44.00 price objective on shares of SunTrust Banks in a research note on Thursday, July 7th. Wells Fargo & Co. reiterated a “buy” rating on shares of SunTrust Banks in a research note on Sunday, July 10th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $46.00 price objective on shares of SunTrust Banks in a research note on Sunday, July 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $44.73.

In related news, insider Susan S. Johnson sold 1,118 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total value of $47,403.20. Following the completion of the transaction, the insider now directly owns 1,119 shares of the company’s stock, valued at approximately $47,445.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by corporate insiders.

About SunTrust Banks

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.

5 Day Chart for NYSE:STI

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