Meag Munich Ergo Kapitalanlagegesellschaft MBH Has $10,923,000 Position in SunTrust Banks Inc. (STI)
Meag Munich Ergo Kapitalanlagegesellschaft MBH held its stake in shares of SunTrust Banks Inc. (NYSE:STI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 267,191 shares of the financial services provider’s stock at the end of the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned approximately 0.05% of SunTrust Banks worth $10,923,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. NN Investment Partners Holdings N.V. purchased a new stake in shares of SunTrust Banks during the first quarter worth $349,000. Menta Capital LLC raised its position in SunTrust Banks by 57.9% in the first quarter. Menta Capital LLC now owns 28,100 shares of the financial services provider’s stock valued at $1,014,000 after buying an additional 10,300 shares during the last quarter. Aviva PLC raised its position in SunTrust Banks by 1.1% in the first quarter. Aviva PLC now owns 262,793 shares of the financial services provider’s stock valued at $9,482,000 after buying an additional 2,793 shares during the last quarter. Credit Agricole S A raised its position in SunTrust Banks by 29.5% in the first quarter. Credit Agricole S A now owns 113,968 shares of the financial services provider’s stock valued at $4,112,000 after buying an additional 25,945 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in SunTrust Banks by 476.5% in the first quarter. Canada Pension Plan Investment Board now owns 735,651 shares of the financial services provider’s stock valued at $26,542,000 after buying an additional 608,040 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.
Shares of SunTrust Banks Inc. (NYSE:STI) traded up 1.45% during trading on Tuesday, reaching $45.36. The company’s stock had a trading volume of 3,850,400 shares. SunTrust Banks Inc. has a 52 week low of $31.07 and a 52 week high of $46.47. The company has a 50 day moving average price of $44.21 and a 200 day moving average price of $42.13. The firm has a market capitalization of $22.74 billion, a P/E ratio of 12.28 and a beta of 1.31.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, July 22nd. The financial services provider reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. SunTrust Banks had a return on equity of 8.53% and a net margin of 22.31%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that SunTrust Banks Inc. will post $3.51 EPS for the current fiscal year.
Several research firms have recently commented on STI. Wells Fargo & Co. reissued a “buy” rating on shares of SunTrust Banks in a research report on Sunday, July 10th. Robert W. Baird reissued an “underperform” rating on shares of SunTrust Banks in a research report on Thursday, August 4th. BMO Capital Markets reissued a “hold” rating and issued a $44.00 price target on shares of SunTrust Banks in a research report on Thursday, July 7th. Barclays PLC reissued an “equal weight” rating and issued a $46.00 price target on shares of SunTrust Banks in a research report on Sunday, July 10th. Finally, Sanford C. Bernstein lowered SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 price target for the company. in a research report on Tuesday, August 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $44.91.
In related news, insider Susan S. Johnson sold 1,118 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $42.40, for a total value of $47,403.20. Following the transaction, the insider now owns 1,119 shares in the company, valued at approximately $47,445.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.67% of the company’s stock.
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.
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