Southeast Asset Advisors Inc. continued to hold its position in shares of SunTrust Banks, Inc. (NYSE:STI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the financial services provider’s stock at the end of the 2nd quarter. Southeast Asset Advisors Inc.’s holdings in SunTrust Banks were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America grew its stake in shares of SunTrust Banks by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,893 shares of the financial services provider’s stock valued at $105,000 after buying an additional 18 shares during the period. Canal Capital Management LLC grew its stake in shares of SunTrust Banks by 0.4% in the 2nd quarter. Canal Capital Management LLC now owns 6,318 shares of the financial services provider’s stock valued at $358,000 after buying an additional 27 shares during the period. Capital Management Corp VA grew its stake in shares of SunTrust Banks by 0.5% in the 2nd quarter. Capital Management Corp VA now owns 8,201 shares of the financial services provider’s stock valued at $465,000 after buying an additional 38 shares during the period. Ronald Blue & Co. LLC grew its stake in shares of SunTrust Banks by 0.9% in the 1st quarter. Ronald Blue & Co. LLC now owns 6,315 shares of the financial services provider’s stock valued at $349,000 after buying an additional 54 shares during the period. Finally, Smith Salley & Associates grew its stake in shares of SunTrust Banks by 1.3% in the 2nd quarter. Smith Salley & Associates now owns 5,139 shares of the financial services provider’s stock valued at $291,000 after buying an additional 66 shares during the period. 81.19% of the stock is owned by institutional investors and hedge funds.

SunTrust Banks, Inc. (NYSE STI) traded up 0.92% during midday trading on Thursday, reaching $60.17. 812,418 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $56.25 and its 200 day moving average is $56.05. The firm has a market capitalization of $28.98 billion, a P/E ratio of 16.00 and a beta of 1.31. SunTrust Banks, Inc. has a 52 week low of $44.25 and a 52 week high of $61.69.

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

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.40 per share. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.26. This represents a $1.60 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Tuesday, August 29th. SunTrust Banks’s payout ratio is currently 42.67%.

Several analysts have recently weighed in on STI shares. Robert W. Baird reissued a “hold” rating and issued a $55.00 price target on shares of SunTrust Banks in a research note on Friday, August 25th. Morgan Stanley raised shares of SunTrust Banks from an “underweight” rating to an “equal weight” rating and set a $63.00 price target for the company in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Friday, September 22nd. Wells Fargo & Company started coverage on shares of SunTrust Banks in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $70.00 price target for the company. Finally, Keefe, Bruyette & Woods set a $58.00 price target on shares of SunTrust Banks and gave the company a “hold” rating in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $61.34.

In other news, insider Susan S. Johnson sold 808 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $57.34, for a total transaction of $46,330.72. Following the transaction, the insider now directly owns 3,515 shares of the company’s stock, valued at $201,550.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.55% of the stock is owned by insiders.

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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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