HL Financial Services LLC raised its holdings in SunTrust Banks, Inc. (NYSE:STI) by 34.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 24,584 shares of the financial services provider’s stock after acquiring an additional 6,341 shares during the quarter. HL Financial Services LLC’s holdings in SunTrust Banks were worth $1,642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Argent Trust Co increased its position in SunTrust Banks by 2.6% in the 2nd quarter. Argent Trust Co now owns 35,901 shares of the financial services provider’s stock valued at $2,370,000 after acquiring an additional 906 shares during the period. Beacon Investment Advisory Services Inc. increased its position in SunTrust Banks by 1.8% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 45,648 shares of the financial services provider’s stock valued at $3,014,000 after acquiring an additional 797 shares during the period. Schwab Charles Investment Management Inc. increased its position in SunTrust Banks by 3.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,748,113 shares of the financial services provider’s stock valued at $115,411,000 after acquiring an additional 56,665 shares during the period. NumerixS Investment Technologies Inc increased its position in SunTrust Banks by 53.8% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,000 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 2,099 shares during the period. Finally, New England Research & Management Inc. increased its position in SunTrust Banks by 117.4% in the 3rd quarter. New England Research & Management Inc. now owns 24,350 shares of the financial services provider’s stock valued at $1,626,000 after acquiring an additional 13,150 shares during the period. Hedge funds and other institutional investors own 84.07% of the company’s stock.

Several brokerages have issued reports on STI. Morgan Stanley upped their price target on shares of SunTrust Banks from $80.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, July 24th. Ameriprise Financial upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating in a research report on Monday, July 23rd. ValuEngine cut 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. Finally, B. Riley upgraded shares of SunTrust Banks from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $81.00 in a research report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $77.00.

In related news, EVP Jorge Arrieta sold 2,500 shares of the 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 directly owns 6,148 shares of the company’s stock, valued at $449,603.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is owned by corporate insiders.

STI opened at $63.53 on Friday. The firm has a market cap of $28.23 billion, a PE ratio of 15.73, a PEG ratio of 1.04 and a beta of 1.27. SunTrust Banks, Inc. has a twelve month low of $56.30 and a twelve month high of $75.08. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.65.

SunTrust Banks (NYSE:STI) last issued its earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.17. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. SunTrust Banks’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. As a group, research analysts anticipate that SunTrust Banks, Inc. will post 5.59 earnings per share for the current fiscal year.

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

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