Trustmark National Bank Trust Department grew its position in SunTrust Banks, Inc. (NYSE:STI) by 8.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,738 shares of the financial services provider’s stock after buying an additional 4,260 shares during the quarter. Trustmark National Bank Trust Department’s holdings in SunTrust Banks were worth $3,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its stake in shares of SunTrust Banks by 1.6% in the first quarter. FMR LLC now owns 28,395,709 shares of the financial services provider’s stock valued at $1,570,283,000 after buying an additional 459,526 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of SunTrust Banks by 8.6% in the first quarter. AQR Capital Management LLC now owns 8,758,128 shares of the financial services provider’s stock valued at $484,324,000 after buying an additional 694,144 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of SunTrust Banks by 4.3% in the second quarter. Victory Capital Management Inc. now owns 5,676,079 shares of the financial services provider’s stock valued at $321,947,000 after buying an additional 232,350 shares in the last quarter. American Century Companies Inc. grew its stake in shares of SunTrust Banks by 7.8% in the second quarter. American Century Companies Inc. now owns 5,550,988 shares of the financial services provider’s stock valued at $314,852,000 after buying an additional 402,735 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of SunTrust Banks by 6.5% in the first quarter. Geode Capital Management LLC now owns 5,247,868 shares of the financial services provider’s stock valued at $289,830,000 after buying an additional 322,372 shares in the last quarter. 81.19% of the stock is owned by institutional investors and hedge funds.

In other news, insider Susan S. Johnson sold 808 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $57.34, for a total transaction of $46,330.72. Following the completion of the sale, the insider now directly owns 3,515 shares in the company, valued at $201,550.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is owned by company insiders.

A number of brokerages have recently weighed in on STI. Wells Fargo & Company began coverage on SunTrust Banks in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $70.00 price objective for the company. Morgan Stanley raised SunTrust Banks from an “underweight” rating to an “equal weight” rating and set a $63.00 price objective for the company in a research note on Thursday, August 3rd. BidaskClub cut SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of SunTrust Banks in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods set a $58.00 price objective on SunTrust Banks and gave the company a “hold” rating in a research note on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $60.39.

Shares of SunTrust Banks, Inc. (NYSE:STI) traded up 0.56% during mid-day trading on Tuesday, reaching $55.87. The company’s stock had a trading volume of 1,163,172 shares. SunTrust Banks, Inc. has a 52 week low of $42.36 and a 52 week high of $61.69. The firm has a market capitalization of $26.91 billion, a PE ratio of 14.86 and a beta of 1.33. The firm has a 50-day moving average of $55.96 and a 200-day moving average of $56.09.

SunTrust Banks (NYSE:STI) last announced its earnings results on Friday, July 21st. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.29 billion. SunTrust Banks had a return on equity of 8.48% and a net margin of 20.51%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. Equities research analysts forecast that SunTrust Banks, Inc. will post $4.05 earnings per share for the current fiscal year.

SunTrust Banks declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.32 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.26. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. SunTrust Banks’s dividend payout ratio (DPR) is currently 42.67%.

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SunTrust Banks Profile

SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.

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

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