Boys Arnold & Co. Inc. Has $503,000 Stake in SunTrust Banks, Inc. (STI)

Boys Arnold & Co. Inc. held its position in shares of SunTrust Banks, Inc. (NYSE:STI) during the first quarter, Holdings Channel reports. The institutional investor owned 9,087 shares of the financial services provider’s stock at the end of the first quarter. Boys Arnold & Co. Inc.’s holdings in SunTrust Banks were worth $503,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in SunTrust Banks by 9.1% in the fourth quarter. State Street Corp now owns 26,739,196 shares of the financial services provider’s stock worth $1,466,642,000 after buying an additional 2,237,695 shares during the last quarter. AQR Capital Management LLC raised its stake in SunTrust Banks by 47.3% in the fourth quarter. AQR Capital Management LLC now owns 8,063,984 shares of the financial services provider’s stock worth $442,309,000 after buying an additional 2,588,353 shares during the last quarter. LSV Asset Management raised its stake in SunTrust Banks by 15.1% in the third quarter. LSV Asset Management now owns 7,485,815 shares of the financial services provider’s stock worth $327,878,000 after buying an additional 983,250 shares during the last quarter. Principal Financial Group Inc. raised its stake in SunTrust Banks by 21.6% in the third quarter. Principal Financial Group Inc. now owns 4,943,473 shares of the financial services provider’s stock worth $216,524,000 after buying an additional 879,094 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in SunTrust Banks by 7.7% in the third quarter. Victory Capital Management Inc. now owns 4,423,644 shares of the financial services provider’s stock worth $193,756,000 after buying an additional 318,123 shares during the last quarter. 82.17% of the stock is currently owned by institutional investors.

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

SunTrust Banks, Inc. (NYSE:STI) traded up 2.75% on Thursday, hitting $55.64. The stock had a trading volume of 4,039,230 shares. The firm has a 50-day moving average of $56.49 and a 200 day moving average of $53.69. SunTrust Banks, Inc. has a 52 week low of $37.71 and a 52 week high of $61.69. The company has a market capitalization of $27.33 billion, a price-to-earnings ratio of 15.46 and a beta of 1.33.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, January 20th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. SunTrust Banks had a return on equity of 8.08% and a net margin of 20.50%. The business earned $2.16 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. SunTrust Banks’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that SunTrust Banks, Inc. will post $3.88 earnings per share for the current year.

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STI has been the subject of a number of analyst reports. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of SunTrust Banks in a research report on Sunday, January 22nd. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Saturday, December 31st. FBR & Co increased their price target on SunTrust Banks to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 23rd. Royal Bank of Canada reissued a “buy” rating and issued a $60.00 price target on shares of SunTrust Banks in a research report on Wednesday, January 4th. Finally, Sandler O’Neill raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Monday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. SunTrust Banks presently has an average rating of “Hold” and an average target price of $52.58.

In other news, EVP Thomas E. Freeman sold 22,584 shares of the company’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $59.25, for a total value of $1,338,102.00. Following the completion of the transaction, the executive vice president now owns 148,273 shares of the company’s stock, valued at $8,785,175.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Susan S. Johnson sold 757 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $59.83, for a total value of $45,291.31. Following the completion of the transaction, the insider now directly owns 2,706 shares of the company’s stock, valued at approximately $161,899.98. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

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.

5 Day Chart for NYSE:STI

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