Glenmede Trust Co. NA Raises Position in SunTrust Banks, Inc. (STI)

Glenmede Trust Co. NA increased its position in SunTrust Banks, Inc. (NYSE:STI) by 212.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 526,669 shares of the financial services provider’s stock after buying an additional 358,354 shares during the quarter. Glenmede Trust Co. NA’s holdings in SunTrust Banks were worth $34,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of STI. Russell Investments Group Ltd. raised its position in shares of SunTrust Banks by 30.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 605,007 shares of the financial services provider’s stock worth $36,160,000 after buying an additional 142,946 shares during the period. Commerce Bank raised its position in shares of SunTrust Banks by 293.8% in the 3rd quarter. Commerce Bank now owns 17,967 shares of the financial services provider’s stock worth $1,074,000 after buying an additional 13,405 shares during the period. Macquarie Group Ltd. raised its position in shares of SunTrust Banks by 1.1% in the 3rd quarter. Macquarie Group Ltd. now owns 247,982 shares of the financial services provider’s stock worth $14,822,000 after buying an additional 2,700 shares during the period. Stephens Inc. AR raised its position in shares of SunTrust Banks by 3.0% in the 3rd quarter. Stephens Inc. AR now owns 74,500 shares of the financial services provider’s stock worth $4,453,000 after buying an additional 2,154 shares during the period. Finally, Catalyst Capital Advisors LLC raised its position in shares of SunTrust Banks by 5.4% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 235,000 shares of the financial services provider’s stock worth $14,046,000 after buying an additional 11,940 shares during the period. 83.59% of the stock is currently owned by institutional investors and hedge funds.

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SunTrust Banks, Inc. (STI) opened at $71.05 on Tuesday. The company has a market capitalization of $33,497.51, a PE ratio of 17.66, a P/E/G ratio of 1.14 and a beta of 1.33. SunTrust Banks, Inc. has a 52 week low of $51.96 and a 52 week high of $73.37. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.43.

SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. SunTrust Banks had a return on equity of 9.18% and a net margin of 23.35%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.90 earnings per share. analysts anticipate that SunTrust Banks, Inc. will post 5.03 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were paid a $0.40 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. SunTrust Banks’s dividend payout ratio (DPR) is 35.71%.

In related news, Vice Chairman Mark A. Chancy sold 7,500 shares of SunTrust Banks stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $70.13, for a total value of $525,975.00. Following the completion of the transaction, the insider now directly owns 149,955 shares in the company, valued at $10,516,344.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan S. Johnson sold 3,600 shares of SunTrust Banks stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $71.04, for a total value of $255,744.00. Following the completion of the transaction, the insider now owns 8,857 shares of the company’s stock, valued at $629,201.28. The disclosure for this sale can be found here. Insiders sold 40,348 shares of company stock valued at $1,289,757 over the last quarter. Insiders own 0.52% of the company’s stock.

STI has been the subject of several recent research reports. UBS upgraded SunTrust Banks from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $73.00 in a report on Tuesday, December 12th. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Tuesday, December 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $77.00 price target on shares of SunTrust Banks in a report on Friday, December 29th. Vining Sparks reiterated a “buy” rating and issued a $85.00 price target on shares of SunTrust Banks in a report on Monday, January 8th. Finally, Goldman Sachs reiterated a “buy” rating and issued a $74.00 price target on shares of SunTrust Banks in a report on Thursday, January 4th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. SunTrust Banks presently has a consensus rating of “Hold” and an average target price of $69.25.

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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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