11,200 Shares in SunTrust Banks, Inc. (STI) Purchased by New England Research & Management Inc.

New England Research & Management Inc. purchased a new position in SunTrust Banks, Inc. (NYSE:STI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,200 shares of the financial services provider’s stock, valued at approximately $723,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Commerce Bank lifted its position in SunTrust Banks by 11.6% in the 2nd quarter. Commerce Bank now owns 4,562 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 474 shares in the last quarter. Fiduciary Trust Co. bought a new position in SunTrust Banks in the 2nd quarter valued at approximately $118,000. Systematic Financial Management LP lifted its position in SunTrust Banks by 71.4% in the 2nd quarter. Systematic Financial Management LP now owns 50,036 shares of the financial services provider’s stock valued at $2,838,000 after acquiring an additional 20,849 shares in the last quarter. AXA lifted its position in SunTrust Banks by 0.7% in the 2nd quarter. AXA now owns 98,200 shares of the financial services provider’s stock valued at $5,570,000 after acquiring an additional 700 shares in the last quarter. Finally, Capital Fund Management S.A. lifted its position in SunTrust Banks by 3.9% in the 2nd quarter. Capital Fund Management S.A. now owns 58,132 shares of the financial services provider’s stock valued at $3,297,000 after acquiring an additional 2,180 shares in the last quarter. 80.71% of the stock is currently owned by hedge funds and other institutional investors.

SunTrust Banks, Inc. (STI) traded up $1.03 during midday trading on Tuesday, hitting $68.89. The stock had a trading volume of 4,509,400 shares, compared to its average volume of 4,235,878. The company has a market cap of $32,793.93, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93. SunTrust Banks, Inc. has a 12-month low of $51.96 and a 12-month high of $68.95.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.30 billion. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. analysts expect that SunTrust Banks, Inc. will post 4.06 EPS for the current fiscal year.

Several research firms recently issued reports on STI. Vining Sparks reaffirmed a “buy” rating and issued a $85.00 price objective on shares of SunTrust Banks in a research report on Monday, January 8th. Morgan Stanley raised SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 price objective on the stock in a research report on Monday, January 8th. Credit Suisse Group reaffirmed a “hold” rating and issued a $68.00 price objective on shares of SunTrust Banks in a research report on Thursday, January 4th. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Friday, January 5th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $74.00 price objective on shares of SunTrust Banks in a research report on Thursday, January 4th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $67.88.

In other news, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kyle P. Legg sold 3,300 shares of the company’s stock in a transaction 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.

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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)

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