Toronto Dominion Bank Has $10.89 Million Stake in SunTrust Banks, Inc. (STI)
Toronto Dominion Bank grew its stake in SunTrust Banks, Inc. (NYSE:STI) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 182,202 shares of the financial services provider’s stock after acquiring an additional 17,840 shares during the quarter. Toronto Dominion Bank’s holdings in SunTrust Banks were worth $10,889,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Fiduciary Trust Co. purchased a new position in SunTrust Banks during the 2nd quarter worth $118,000. Advisory Services Network LLC grew its stake in SunTrust Banks by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock worth $121,000 after buying an additional 20 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in SunTrust Banks during the 2nd quarter worth $136,000. Dupont Capital Management Corp grew its stake in SunTrust Banks by 55.2% during the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock worth $157,000 after buying an additional 933 shares during the last quarter. Finally, Huntington National Bank grew its stake in SunTrust Banks by 2.9% during the 2nd quarter. Huntington National Bank now owns 2,809 shares of the financial services provider’s stock worth $159,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.
In other SunTrust Banks news, Director Kyle P. Legg sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total transaction of $72,006.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by insiders.
Shares of SunTrust Banks, Inc. (STI) traded up $0.31 during trading on Wednesday, hitting $57.64. The company had a trading volume of 3,080,700 shares, compared to its average volume of 3,371,117. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. SunTrust Banks, Inc. has a 1 year low of $50.66 and a 1 year high of $61.69. The stock has a market cap of $27,290.98, a price-to-earnings ratio of 14.85, a PEG ratio of 1.54 and a beta of 1.29.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the business earned $0.91 EPS. SunTrust Banks’s revenue for the quarter was up 3.7% compared to the same quarter last year. sell-side analysts anticipate that SunTrust Banks, Inc. will post 4.06 earnings per share for the current fiscal year.
Several research analysts recently weighed in on STI shares. Piper Jaffray Companies restated a “buy” rating and set a $63.00 target price on shares of SunTrust Banks in a research note on Monday, August 28th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Friday, September 22nd. Royal Bank Of Canada restated a “buy” rating and set a $60.00 target price on shares of SunTrust Banks in a research note on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and set a $69.00 target price on shares of SunTrust Banks in a research note on Thursday, October 12th. Finally, Morgan Stanley upgraded SunTrust Banks from an “underweight” rating to an “equal weight” rating and set a $63.00 target price on the stock in a research note on Thursday, August 3rd. Nineteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $63.18.
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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