TIAA CREF Investment Management LLC grew its position in shares of SunTrust Banks, Inc. (NYSE:STI) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,175,019 shares of the financial services provider’s stock after buying an additional 149,288 shares during the quarter. TIAA CREF Investment Management LLC owned 1.10% of SunTrust Banks worth $334,254,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. Teachers Advisors LLC grew its holdings in shares of SunTrust Banks by 7.5% during the fourth quarter. Teachers Advisors LLC now owns 2,176,299 shares of the financial services provider’s stock valued at $140,567,000 after buying an additional 151,783 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of SunTrust Banks during the fourth quarter valued at approximately $965,000. Raymond James & Associates grew its holdings in shares of SunTrust Banks by 1.2% during the fourth quarter. Raymond James & Associates now owns 629,215 shares of the financial services provider’s stock valued at $40,642,000 after buying an additional 7,421 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of SunTrust Banks by 1,177.8% during the fourth quarter. Two Sigma Advisers LP now owns 287,609 shares of the financial services provider’s stock valued at $18,577,000 after buying an additional 265,100 shares during the last quarter. Finally, Avestar Capital LLC purchased a new stake in shares of SunTrust Banks during the fourth quarter valued at approximately $162,000. Hedge funds and other institutional investors own 83.57% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Credit Suisse Group reiterated a “hold” rating and set a $73.00 price target on shares of SunTrust Banks in a report on Wednesday. Goldman Sachs Group reiterated a “buy” rating and set a $74.00 price target on shares of SunTrust Banks in a report on Thursday, January 4th. Zacks Investment Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $77.00 price target on shares of SunTrust Banks in a report on Friday, December 29th. Finally, Morgan Stanley raised their target price on shares of SunTrust Banks from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Sixteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. SunTrust Banks has a consensus rating of “Hold” and a consensus price target of $69.25.
SunTrust Banks, Inc. (NYSE STI) opened at $72.27 on Wednesday. The firm has a market cap of $33,989.23, a price-to-earnings ratio of 17.92, a PEG ratio of 1.15 and a beta of 1.33. SunTrust Banks, Inc. has a one year low of $51.96 and a one year high of $73.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 0.93.
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. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.32 billion. SunTrust Banks had a net margin of 23.35% and a return on equity of 9.18%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS. equities research analysts forecast that SunTrust Banks, Inc. will post 5.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Tuesday, February 27th. SunTrust Banks’s dividend payout ratio is presently 35.71%.
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SunTrust Banks Company Profile
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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