First American Trust FSB Decreases Stake in SunTrust Banks, Inc. (STI)

First American Trust FSB lessened its stake in SunTrust Banks, Inc. (NYSE:STI) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,904 shares of the financial services provider’s stock after selling 709 shares during the quarter. First American Trust FSB’s holdings in SunTrust Banks were worth $1,861,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of STI. Capital International Investors acquired a new stake in shares of SunTrust Banks in the third quarter valued at approximately $441,578,000. Vanguard Group Inc. increased its holdings in shares of SunTrust Banks by 2.2% in the third quarter. Vanguard Group Inc. now owns 36,403,676 shares of the financial services provider’s stock valued at $2,431,401,000 after purchasing an additional 793,283 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of SunTrust Banks by 2.2% in the third quarter. Vanguard Group Inc now owns 36,403,676 shares of the financial services provider’s stock valued at $2,431,401,000 after purchasing an additional 793,283 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of SunTrust Banks by 613.4% in the second quarter. Bank of Nova Scotia now owns 583,090 shares of the financial services provider’s stock valued at $38,495,000 after purchasing an additional 501,357 shares during the last quarter. Finally, Bridgeway Capital Management Inc. acquired a new stake in shares of SunTrust Banks in the third quarter valued at approximately $28,406,000. 82.60% of the stock is owned by hedge funds and other institutional investors.

NYSE STI traded up $0.39 during trading on Friday, reaching $55.76. 406,067 shares of the company’s stock were exchanged, compared to its average volume of 5,108,074. The company has a market capitalization of $24.92 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.93. SunTrust Banks, Inc. has a 1 year low of $46.05 and a 1 year high of $75.08.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.17. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.35 billion. SunTrust Banks had a return on equity of 11.66% and a net margin of 28.17%. SunTrust Banks’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 EPS. As a group, equities research analysts expect that SunTrust Banks, Inc. will post 5.6 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Friday, November 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Thursday, November 29th. SunTrust Banks’s dividend payout ratio (DPR) is currently 49.50%.

Several research firms have issued reports on STI. Piper Jaffray Companies cut SunTrust Banks from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $76.00 to $74.00 in a research note on Thursday, September 13th. Wedbush set a $75.00 target price on SunTrust Banks and gave the stock a “hold” rating in a research note on Thursday, September 13th. Zacks Investment Research cut SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Jefferies Financial Group reissued a “buy” rating and set a $75.00 target price on shares of SunTrust Banks in a research note on Monday, October 8th. Finally, Edward Jones raised SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $74.08.

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About SunTrust Banks

SunTrust Banks, Inc operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through two segments, Consumer and Wholesale. The Consumer segment provides deposits and payments; home equity and personal credit lines; auto, student, and other lending products; credit cards; discount/online and full-service brokerage products; professional investment advisory products and services; and trust services, as well as family office solutions.

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

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