Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in SunTrust Banks, Inc. (NYSE:STI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,887 shares of the financial services provider’s stock, valued at approximately $448,000.
A number of other large investors have also recently bought and sold shares of STI. Capital International Investors bought a new position in shares of SunTrust Banks during the third quarter worth about $441,578,000. Oregon Public Employees Retirement Fund lifted its position in shares of SunTrust Banks by 4,883.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,581,469 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 2,529,671 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of SunTrust Banks by 21,740.3% during the fourth quarter. Bessemer Group Inc. now owns 1,416,126 shares of the financial services provider’s stock worth $71,429,000 after purchasing an additional 1,409,642 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of SunTrust Banks by 229.4% during the fourth quarter. Two Sigma Advisers LP now owns 1,766,609 shares of the financial services provider’s stock worth $89,108,000 after purchasing an additional 1,230,300 shares during the last quarter. Finally, Vanguard Group Inc lifted its position in shares of SunTrust Banks by 2.2% during the third quarter. Vanguard Group Inc now owns 36,403,676 shares of the financial services provider’s stock worth $2,431,401,000 after purchasing an additional 793,283 shares during the last quarter. 81.15% of the stock is owned by institutional investors.
In other SunTrust Banks news, EVP Jorge Arrieta sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $66.25, for a total value of $265,000.00. Following the sale, the executive vice president now owns 8,662 shares in the company, valued at $573,857.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total transaction of $653,800.00. Following the completion of the sale, the insider now owns 205,846 shares in the company, valued at approximately $13,458,211.48. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.
SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. SunTrust Banks had a net margin of 25.26% and a return on equity of 12.22%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business earned $1.29 earnings per share. SunTrust Banks’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts predict that SunTrust Banks, Inc. will post 5.74 EPS for the current year.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of SunTrust Banks from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. ValuEngine cut shares of SunTrust Banks from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Wells Fargo & Co reaffirmed a “buy” rating on shares of SunTrust Banks in a research report on Monday, March 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $73.00 price target (down previously from $80.00) on shares of SunTrust Banks in a research report on Monday, March 11th. Finally, UBS Group cut shares of SunTrust Banks from a “buy” rating to a “neutral” rating and increased their price target for the stock from $68.00 to $71.00 in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $70.96.
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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, institutions, and not-for-profit entities in the United States. It operates in 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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