NuWave Investment Management LLC acquired a new stake in SunTrust Banks, Inc. (NYSE:STI) in the fourth quarter, Holdings Channel reports. The firm acquired 12,596 shares of the financial services provider’s stock, valued at approximately $813,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC increased its holdings in shares of SunTrust Banks by 0.9% in the second quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 20 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of SunTrust Banks in the second quarter valued at approximately $136,000. Tiedemann Wealth Management LLC increased its holdings in shares of SunTrust Banks by 12.1% in the third quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 2,920 shares during the period. Dupont Capital Management Corp increased its holdings in shares of SunTrust Banks by 55.2% in the third quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 933 shares during the period. Finally, Blue Granite Capital LLC acquired a new position in shares of SunTrust Banks in the third quarter valued at approximately $177,000. Institutional investors own 81.77% of the company’s stock.

SunTrust Banks, Inc. (NYSE STI) opened at $67.48 on Monday. SunTrust Banks, Inc. has a twelve month low of $51.96 and a twelve month high of $72.06. The firm has a market capitalization of $31,778.43, a price-to-earnings ratio of 15.06, a P/E/G ratio of 1.26 and a beta of 1.37. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. SunTrust Banks’s quarterly revenue was up 5.1% on a year-over-year basis. analysts expect that SunTrust Banks, Inc. will post 5.04 EPS for the current fiscal year.

STI has been the topic of a number of recent research reports. UBS Group raised SunTrust Banks from a “neutral” rating to a “buy” rating and boosted their target price for the company from $62.00 to $73.00 in a report on Tuesday, December 12th. Royal Bank of Canada reissued a “buy” rating and issued a $65.00 target price on shares of SunTrust Banks in a report on Monday, October 23rd. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, December 26th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $77.00 target price on shares of SunTrust Banks in a report on Friday, December 29th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $74.00 target price on shares of SunTrust Banks in a report on Thursday, January 4th. Fifteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $69.02.

In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 4,000 shares of the business’s stock in a transaction 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 SEC, which can be accessed through this hyperlink. Also, EVP Jerome T. Lienhard sold 29,248 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total value of $508,037.76. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

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About SunTrust Banks

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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