Gillespie Robinson & Grimm Inc. cut its stake in SunTrust Banks, Inc. (NYSE:STI) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 422,235 shares of the financial services provider’s stock after selling 6,970 shares during the period. SunTrust Banks accounts for 3.4% of Gillespie Robinson & Grimm Inc.’s investment portfolio, making the stock its 14th largest holding. Gillespie Robinson & Grimm Inc. owned about 0.09% of SunTrust Banks worth $27,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in STI. Fiduciary Trust Co. acquired a new position in shares of SunTrust Banks during the second quarter worth approximately $118,000. Advisory Services Network LLC raised its position in SunTrust Banks by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 2,140 shares of the financial services provider’s stock valued at $121,000 after buying an additional 20 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in SunTrust Banks in the 2nd quarter valued at $136,000. Tiedemann Wealth Management LLC raised its position in SunTrust Banks by 12.1% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 26,961 shares of the financial services provider’s stock valued at $142,000 after buying an additional 2,920 shares during the last quarter. Finally, Dupont Capital Management Corp raised its position in SunTrust Banks by 55.2% in the 3rd quarter. Dupont Capital Management Corp now owns 2,623 shares of the financial services provider’s stock valued at $157,000 after buying an additional 933 shares during the last quarter. Institutional investors and hedge funds own 80.71% of the company’s stock.
STI has been the subject of a number of analyst reports. Credit Suisse Group raised SunTrust Banks from an “underperform” rating to a “neutral” rating and increased their price target for the company from $56.00 to $60.00 in a research report on Monday, October 9th. Barclays upped their price objective on SunTrust Banks from $68.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Morgan Stanley upgraded SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price objective for the company in a research note on Monday, January 8th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Tuesday, December 26th. Finally, Raymond James Financial downgraded SunTrust Banks from an “outperform” rating to a “market perform” rating in a research note on Monday, October 23rd. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.88.
SunTrust Banks, Inc. (NYSE STI) traded down $0.59 on Wednesday, reaching $68.30. The company had a trading volume of 2,691,700 shares, compared to its average volume of 4,081,460. 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 fifty-two week low of $51.96 and a fifty-two week high of $69.56. The company has a market cap of $32,430.00, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. SunTrust Banks’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. equities research analysts anticipate that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.
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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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