Gulf International Bank UK Ltd Boosts Holdings in SunTrust Banks, Inc. (STI)

Gulf International Bank UK Ltd boosted its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,418 shares of the financial services provider’s stock after acquiring an additional 2,500 shares during the quarter. Gulf International Bank UK Ltd’s holdings in SunTrust Banks were worth $10,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can lifted its position in shares of SunTrust Banks by 169.8% in the 2nd quarter. Bank of Montreal Can now owns 4,117,886 shares of the financial services provider’s stock worth $271,863,000 after purchasing an additional 2,591,748 shares during the period. First Trust Advisors LP lifted its position in shares of SunTrust Banks by 71.6% in the 2nd quarter. First Trust Advisors LP now owns 1,822,123 shares of the financial services provider’s stock worth $120,297,000 after purchasing an additional 760,417 shares during the period. Bank of Nova Scotia lifted its position in shares of SunTrust Banks by 613.4% in the 2nd quarter. Bank of Nova Scotia now owns 583,090 shares of the financial services provider’s stock worth $38,495,000 after purchasing an additional 501,357 shares during the period. Janus Henderson Group PLC lifted its position in shares of SunTrust Banks by 78.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,142,369 shares of the financial services provider’s stock worth $75,419,000 after purchasing an additional 500,896 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of SunTrust Banks by 50.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,414,818 shares of the financial services provider’s stock worth $96,264,000 after purchasing an additional 471,824 shares during the period. 84.07% of the stock is currently owned by hedge funds and other institutional investors.

SunTrust Banks stock opened at $62.83 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.95. SunTrust Banks, Inc. has a 12-month low of $56.30 and a 12-month high of $75.08. The firm has a market cap of $28.79 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.06 and a beta of 1.27.

SunTrust Banks (NYSE:STI) last released its earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.17. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $1.06 EPS. SunTrust Banks’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts expect that SunTrust Banks, Inc. will post 5.59 EPS for the current fiscal year.

In related news, EVP Jorge Arrieta sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $73.13, for a total transaction of $182,825.00. Following the transaction, the executive vice president now owns 6,148 shares in the company, valued at approximately $449,603.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by insiders.

A number of research analysts have recently issued reports on the stock. ValuEngine downgraded shares of SunTrust Banks from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Edward Jones upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. BMO Capital Markets dropped their price target on shares of SunTrust Banks from $74.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, October 22nd. B. Riley set a $79.00 price target on shares of SunTrust Banks and gave the stock a “buy” rating in a research report on Monday, October 15th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $75.00 price target on shares of SunTrust Banks in a research report on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. SunTrust Banks has an average rating of “Hold” and an average target price of $77.00.

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SunTrust Banks Profile

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.

Further Reading: Rule of 72

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

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