Bessemer Group Inc. cut its position in SunTrust Banks, Inc. (NYSE:STI) by 35.7% in the fourth quarter, HoldingsChannel reports. The firm owned 3,772 shares of the financial services provider’s stock after selling 2,095 shares during the period. Bessemer Group Inc.’s holdings in SunTrust Banks were worth $244,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Ballew Advisors Inc bought a new position in SunTrust Banks in the fourth quarter worth about $289,000. Conning Inc. raised its holdings in SunTrust Banks by 21.9% in the fourth quarter. Conning Inc. now owns 17,262 shares of the financial services provider’s stock worth $1,115,000 after purchasing an additional 3,098 shares in the last quarter. Lakeview Capital Partners LLC raised its holdings in SunTrust Banks by 7.8% in the fourth quarter. Lakeview Capital Partners LLC now owns 19,469 shares of the financial services provider’s stock worth $1,258,000 after purchasing an additional 1,411 shares in the last quarter. IFG Advisory LLC bought a new position in SunTrust Banks in the fourth quarter worth about $1,582,000. Finally, BTIM Corp. raised its holdings in SunTrust Banks by 5.1% in the fourth quarter. BTIM Corp. now owns 520,395 shares of the financial services provider’s stock worth $33,612,000 after purchasing an additional 25,095 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

SunTrust Banks, Inc. (NYSE:STI) opened at $70.07 on Thursday. SunTrust Banks, Inc. has a fifty-two week low of $51.96 and a fifty-two week high of $72.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market cap of $33,360.00, a P/E ratio of 15.64, a P/E/G ratio of 1.26 and a beta of 1.37.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the company earned $0.90 EPS. SunTrust Banks’s quarterly revenue was up 5.1% on a year-over-year basis. analysts expect that SunTrust Banks, Inc. will post 5.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.60 annualized dividend and a yield of 2.28%. SunTrust Banks’s dividend payout ratio (DPR) is presently 35.71%.

In other SunTrust Banks news, EVP Jerome T. Lienhard sold 29,248 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $17.37, for a total value of $508,037.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.06, for a total value of $240,240.00. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.

A number of equities analysts have commented on STI shares. UBS Group upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $73.00 in a report on Tuesday, December 12th. Royal Bank of Canada restated a “buy” rating and set a $65.00 price objective on shares of SunTrust Banks in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Tuesday, December 26th. Keefe, Bruyette & Woods restated a “buy” rating and set a $77.00 price objective on shares of SunTrust Banks in a report on Friday, December 29th. Finally, Goldman Sachs Group restated a “buy” rating and set a $74.00 price objective on shares of SunTrust Banks in a report on Thursday, January 4th. Fifteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $69.02.

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About SunTrust Banks

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.

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

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