Schwab Charles Investment Management Inc. boosted its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,606,841 shares of the financial services provider’s stock after purchasing an additional 17,423 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.34% of SunTrust Banks worth $96,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in STI. Capital World Investors raised its holdings in SunTrust Banks by 20.7% during the 2nd quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock worth $1,673,982,000 after purchasing an additional 5,056,000 shares during the last quarter. Janus Henderson Group PLC raised its holdings in SunTrust Banks by 3,033.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,006,553 shares of the financial services provider’s stock worth $113,812,000 after purchasing an additional 1,942,524 shares during the last quarter. Lazard Asset Management LLC raised its holdings in SunTrust Banks by 3,009.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,938,443 shares of the financial services provider’s stock worth $109,948,000 after purchasing an additional 1,876,101 shares during the last quarter. American Century Companies Inc. raised its holdings in SunTrust Banks by 31.4% during the 3rd quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock worth $435,947,000 after purchasing an additional 1,742,756 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in SunTrust Banks by 70.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,534,925 shares of the financial services provider’s stock worth $200,501,000 after purchasing an additional 1,462,517 shares during the last quarter. 80.80% of the stock is owned by hedge funds and other institutional investors.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total transaction of $240,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kyle P. Legg sold 3,300 shares of the company’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 value of $72,006.00. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

SunTrust Banks, Inc. (STI) traded up $0.34 during midday trading on Friday, reaching $61.97. The company had a trading volume of 3,987,541 shares, compared to its average volume of 3,356,646. SunTrust Banks, Inc. has a twelve month low of $51.81 and a twelve month high of $62.91. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market cap of $29,337.93, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29.

SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior 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. analysts anticipate that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. SunTrust Banks’s payout ratio is 41.03%.

Several brokerages have weighed in on STI. Citigroup reissued a “neutral” rating and set a $63.00 price objective (up from $60.00) on shares of SunTrust Banks in a report on Monday, October 9th. Credit Suisse Group raised SunTrust Banks from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $56.00 to $60.00 in a report on Monday, October 9th. Zacks Investment Research cut SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. UBS reaffirmed a “neutral” rating and issued a $62.00 price target (up from $61.00) on shares of SunTrust Banks in a research note on Friday, October 6th. Finally, FBR & Co cut SunTrust Banks from a “buy” rating to a “neutral” rating and set a $62.00 price target for the company. in a research note on Tuesday, October 10th. Seventeen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $63.97.

COPYRIGHT VIOLATION NOTICE: “Schwab Charles Investment Management Inc. Purchases 17,423 Shares of SunTrust Banks, Inc. (STI)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another site, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/12/02/schwab-charles-investment-management-inc-purchases-17423-shares-of-suntrust-banks-inc-sti.html.

SunTrust Banks Company 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.

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

Receive News & Stock Ratings for SunTrust Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunTrust Banks Inc. and related stocks with our FREE daily email newsletter.