Certified Advisory Corp trimmed its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,252 shares of the financial services provider’s stock after selling 594 shares during the period. Certified Advisory Corp’s holdings in SunTrust Banks were worth $164,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new position in SunTrust Banks during the fourth quarter valued at approximately $37,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in SunTrust Banks by 864.2% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 781 shares of the financial services provider’s stock valued at $39,000 after buying an additional 700 shares in the last quarter. Moody National Bank Trust Division lifted its position in SunTrust Banks by 48.9% during the fourth quarter. Moody National Bank Trust Division now owns 1,072 shares of the financial services provider’s stock valued at $54,000 after buying an additional 352 shares in the last quarter. Intercontinental Wealth Advisors LLC acquired a new position in SunTrust Banks during the fourth quarter valued at approximately $70,000. Finally, Lavaca Capital LLC acquired a new position in SunTrust Banks during the fourth quarter valued at approximately $71,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.
NYSE STI opened at $64.37 on Monday. SunTrust Banks, Inc. has a 52 week low of $46.05 and a 52 week high of $75.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market cap of $28.92 billion, a PE ratio of 11.29, a PEG ratio of 1.32 and a beta of 1.51.
SunTrust Banks (NYSE:STI) last posted its earnings results on Friday, January 18th. The financial services provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. SunTrust Banks had a net margin of 26.61% and a return on equity of 12.40%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that SunTrust Banks, Inc. will post 5.87 earnings per share for the current year.
A number of research analysts have weighed in on STI shares. B. Riley set a $79.00 price target on shares of SunTrust Banks and gave the company a “buy” rating in a research report on Monday, October 15th. Robert W. Baird raised shares of SunTrust Banks from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $70.00 to $62.00 in a research report on Wednesday, January 2nd. Wedbush lifted their price target on shares of SunTrust Banks from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, January 22nd. BMO Capital Markets reaffirmed a “hold” rating and set a $61.00 price target on shares of SunTrust Banks in a research report on Sunday, January 20th. Finally, ValuEngine cut shares of SunTrust Banks from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $71.27.
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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.
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