Patten Group Inc. cut its holdings in SunTrust Banks, Inc. (NYSE:STI) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,995 shares of the financial services provider’s stock after selling 559 shares during the quarter. Patten Group Inc.’s holdings in SunTrust Banks were worth $1,718,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc boosted its stake in shares of SunTrust Banks by 2.2% in the third quarter. Vanguard Group Inc now owns 36,403,676 shares of the financial services provider’s stock valued at $2,431,401,000 after buying an additional 793,283 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of SunTrust Banks by 12.2% in the fourth quarter. Geode Capital Management LLC now owns 6,297,205 shares of the financial services provider’s stock valued at $317,113,000 after buying an additional 684,600 shares in the last quarter. Boston Partners boosted its stake in shares of SunTrust Banks by 43.7% in the first quarter. Boston Partners now owns 6,241,376 shares of the financial services provider’s stock valued at $369,802,000 after buying an additional 1,898,260 shares in the last quarter. Northern Trust Corp boosted its stake in shares of SunTrust Banks by 9.1% in the fourth quarter. Northern Trust Corp now owns 5,573,625 shares of the financial services provider’s stock valued at $281,133,000 after buying an additional 463,087 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of SunTrust Banks by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,136,609 shares of the financial services provider’s stock valued at $259,091,000 after buying an additional 144,530 shares in the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.

Shares of NYSE:STI traded down $0.14 on Wednesday, hitting $64.05. The company had a trading volume of 37,227 shares, compared to its average volume of 3,765,791. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.76. SunTrust Banks, Inc. has a 52-week low of $46.05 and a 52-week high of $75.08. The company has a market capitalization of $28.38 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.37 and a beta of 1.53.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.04. SunTrust Banks had a return on equity of 12.22% and a net margin of 25.26%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the business earned $1.29 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that SunTrust Banks, Inc. will post 5.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $0.50 dividend. The ex-dividend date is Thursday, May 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.12%. SunTrust Banks’s dividend payout ratio is currently 35.09%.

In other news, insider Robert Ryan Richards sold 1,844 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $62.58, for a total value of $115,397.52. Following the sale, the insider now directly owns 2,083 shares in the company, valued at $130,354.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jorge Arrieta sold 6,606 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $63.46, for a total value of $419,216.76. Following the completion of the sale, the executive vice president now owns 2,556 shares in the company, valued at $162,203.76. The disclosure for this sale can be found here. Insiders sold 50,332 shares of company stock worth $3,177,368 over the last 90 days. Company insiders own 0.42% of the company’s stock.

A number of research firms recently weighed in on STI. Wells Fargo & Co restated a “buy” rating on shares of SunTrust Banks in a research note on Monday, March 18th. UBS Group downgraded SunTrust Banks from a “buy” rating to a “neutral” rating and lifted their price target for the company from $68.00 to $71.00 in a research note on Monday, March 4th. ValuEngine upgraded SunTrust Banks from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Morgan Stanley decreased their target price on SunTrust Banks from $73.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Finally, Zacks Investment Research downgraded SunTrust Banks from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $70.65.

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About SunTrust Banks

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

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