W.G. Shaheen & Associates DBA Whitney & Co lowered its position in shares of SunTrust Banks Inc. (NYSE:STI) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,745 shares of the financial services provider’s stock after selling 150 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in SunTrust Banks were worth $2,223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning raised its stake in shares of SunTrust Banks by 1.4% in the second quarter. Creative Planning now owns 41,170 shares of the financial services provider’s stock valued at $1,691,000 after buying an additional 571 shares in the last quarter. BKD Wealth Advisors LLC raised its stake in shares of SunTrust Banks by 5.9% in the second quarter. BKD Wealth Advisors LLC now owns 6,991 shares of the financial services provider’s stock valued at $287,000 after buying an additional 392 shares in the last quarter. Central Bank & Trust Co. raised its stake in shares of SunTrust Banks by 82.7% in the second quarter. Central Bank & Trust Co. now owns 87,114 shares of the financial services provider’s stock valued at $3,578,000 after buying an additional 39,429 shares in the last quarter. Capital Insight Partners LLC raised its stake in shares of SunTrust Banks by 2.0% in the second quarter. Capital Insight Partners LLC now owns 57,928 shares of the financial services provider’s stock valued at $2,380,000 after buying an additional 1,111 shares in the last quarter. Finally, American National Bank bought a new stake in shares of SunTrust Banks during the second quarter valued at approximately $694,000. 81.23% of the stock is currently owned by institutional investors.

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

SunTrust Banks Inc. (NYSE:STI) traded down 1.23% during midday trading on Monday, reaching $51.56. 5,407,392 shares of the company were exchanged. The company has a 50-day moving average of $47.63 and a 200 day moving average of $43.96. The firm has a market capitalization of $25.57 billion, a PE ratio of 14.28 and a beta of 1.36. SunTrust Banks Inc. has a 52 week low of $31.07 and a 52 week high of $52.65.

SunTrust Banks (NYSE:STI) last released its earnings results on Friday, October 21st. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. SunTrust Banks had a net margin of 21.12% and a return on equity of 8.18%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the business earned $1.00 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities analysts predict that SunTrust Banks Inc. will post $3.57 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Monday, November 28th. SunTrust Banks’s payout ratio is 28.89%.

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STI has been the topic of several research reports. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Wednesday, September 21st. Wells Fargo & Co. downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Friday, November 18th. Morgan Stanley downgraded shares of SunTrust Banks from an “equal weight” rating to an “underweight” rating and set a $53.00 target price for the company. in a research note on Monday, November 14th. They noted that the move was a valuation call. lifted their target price on shares of SunTrust Banks from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, September 23rd. Finally, Standpoint Research downgraded shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. SunTrust Banks presently has an average rating of “Hold” and a consensus price target of $46.13.

In other SunTrust Banks news, insider Anil T. Cheriyan sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $52.15, for a total transaction of $417,200.00. Following the sale, the insider now owns 81,203 shares in the company, valued at approximately $4,234,736.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Thomas E. Panther sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $51.69, for a total transaction of $62,028.00. Following the sale, the senior vice president now directly owns 19,122 shares of the company’s stock, valued at $988,416.18. The disclosure for this sale can be found here. Company 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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