Stoneridge Investment Partners LLC lowered its stake in shares of SunTrust Banks, Inc. (NYSE:STI) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 45,189 shares of the financial services provider’s stock after selling 524 shares during the period. Stoneridge Investment Partners LLC’s holdings in SunTrust Banks were worth $2,279,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC bought a new stake in shares of SunTrust Banks in the 4th quarter worth approximately $30,000. Financial Gravity Companies Inc. purchased a new position in shares of SunTrust Banks during the 4th quarter valued at $37,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of SunTrust Banks by 864.2% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 781 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 700 shares in the last quarter. Moody National Bank Trust Division grew its position in shares of SunTrust Banks by 48.9% during the 4th quarter. Moody National Bank Trust Division now owns 1,072 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 352 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC purchased a new position in SunTrust Banks in the fourth quarter worth $70,000. Institutional investors and hedge funds own 83.02% of the company’s stock.

Several analysts have weighed in on STI shares. ValuEngine raised shares of SunTrust Banks from a “sell” rating to a “hold” rating in a research note on Friday. Sandler O’Neill lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating and set a $69.00 price objective on the stock. in a research report on Friday. Sanford C. Bernstein lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $64.72 price objective on the stock. in a research report on Friday. Keefe, Bruyette & Woods lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Macquarie raised SunTrust Banks from an “underperform” rating to a “neutral” rating and set a $64.72 price target for the company in a research note on Friday. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $71.27.

NYSE STI traded up $0.40 on Monday, reaching $64.77. The company had a trading volume of 142,830 shares, compared to its average volume of 5,793,275. The stock has a market cap of $23.99 billion, a PE ratio of 11.38, a P/E/G ratio of 1.32 and a beta of 1.51. SunTrust Banks, Inc. has a 1 year low of $46.05 and a 1 year high of $75.08. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.68.

SunTrust Banks (NYSE:STI) last released its quarterly earnings results on Friday, January 18th. The financial services provider reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.10. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. SunTrust Banks’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. Sell-side analysts anticipate that SunTrust Banks, Inc. will post 5.87 EPS for the current fiscal year.

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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: Strangles

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

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