Moneta Group Investment Advisors LLC raised its stake in SunTrust Banks, Inc. (NYSE:STI) by 568.5% during the second quarter, reports. The institutional investor owned 63,979 shares of the financial services provider’s stock after acquiring an additional 54,409 shares during the period. Moneta Group Investment Advisors LLC’s holdings in SunTrust Banks were worth $596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in STI. Toronto Dominion Bank increased its position in SunTrust Banks by 15.6% during the first quarter. Toronto Dominion Bank now owns 290,422 shares of the financial services provider’s stock worth $17,203,000 after buying an additional 39,143 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of SunTrust Banks by 5.2% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 77,401 shares of the financial services provider’s stock worth $4,865,000 after purchasing an additional 3,800 shares during the period. LPL Financial LLC lifted its holdings in SunTrust Banks by 31.9% during the 2nd quarter. LPL Financial LLC now owns 90,082 shares of the financial services provider’s stock worth $5,662,000 after purchasing an additional 21,807 shares during the last quarter. Clean Yield Group acquired a new stake in SunTrust Banks during the 2nd quarter worth approximately $84,000. Finally, Abner Herrman & Brock LLC boosted its stake in SunTrust Banks by 0.6% in the 2nd quarter. Abner Herrman & Brock LLC now owns 162,586 shares of the financial services provider’s stock valued at $10,219,000 after purchasing an additional 940 shares during the period. 80.51% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Ellen Koebler sold 4,000 shares of SunTrust Banks stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $60.84, for a total value of $243,360.00. Following the transaction, the insider now directly owns 1 shares of the company’s stock, valued at $60.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Chancy sold 20,973 shares of SunTrust Banks stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $65.21, for a total transaction of $1,367,649.33. Following the completion of the transaction, the insider now directly owns 246,630 shares in the company, valued at $16,082,742.30. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

SunTrust Banks stock traded up $0.79 during mid-day trading on Wednesday, reaching $66.98. 149,011 shares of the company were exchanged, compared to its average volume of 2,470,780. The firm has a market cap of $28.84 billion, a PE ratio of 11.77, a PEG ratio of 1.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.98 and a quick ratio of 0.97. The company has a fifty day simple moving average of $62.23 and a 200-day simple moving average of $62.85. SunTrust Banks, Inc. has a 12 month low of $46.05 and a 12 month high of $74.63.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.02. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.39 billion. SunTrust Banks had a return on equity of 11.86% and a net margin of 23.92%. SunTrust Banks’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $1.49 earnings per share. Sell-side analysts anticipate that SunTrust Banks, Inc. will post 5.58 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.34%. This is an increase from SunTrust Banks’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, August 29th. SunTrust Banks’s dividend payout ratio is presently 39.30%.

Separately, Argus set a $81.00 price objective on SunTrust Banks and gave the stock a “buy” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $69.45.

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

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