Mitsubishi UFJ Trust & Banking Corp Sells 604,655 Shares of SunTrust Banks, Inc. (STI)

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 62.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 362,505 shares of the financial services provider’s stock after selling 604,655 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of SunTrust Banks worth $24,212,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Denali Advisors LLC acquired a new stake in shares of SunTrust Banks in the 3rd quarter worth $127,000. Flagship Harbor Advisors LLC acquired a new stake in shares of SunTrust Banks in the 2nd quarter worth $134,000. Parallel Advisors LLC lifted its stake in shares of SunTrust Banks by 52.2% in the 2nd quarter. Parallel Advisors LLC now owns 2,318 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 795 shares during the period. Oakworth Capital Inc. lifted its stake in shares of SunTrust Banks by 117.0% in the 3rd quarter. Oakworth Capital Inc. now owns 2,300 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 1,240 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of SunTrust Banks in the 2nd quarter worth $164,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Shares of STI opened at $62.49 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $28.35 billion, a PE ratio of 15.47, a P/E/G ratio of 1.04 and a beta of 1.27. SunTrust Banks, Inc. has a 52-week low of $58.69 and a 52-week high of $75.08.

SunTrust Banks (NYSE:STI) last announced its quarterly earnings results on Friday, October 19th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.17. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.35 billion. SunTrust Banks had a net margin of 28.17% and a return on equity of 11.66%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 EPS. On average, equities research analysts forecast that SunTrust Banks, Inc. will post 5.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be issued a $0.50 dividend. The ex-dividend date is Thursday, November 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.20%. SunTrust Banks’s dividend payout ratio is presently 49.50%.

Several analysts have recently commented on the stock. ValuEngine cut shares of SunTrust Banks from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Edward Jones upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. Jefferies Financial Group restated a “buy” rating and issued a $75.00 target price on shares of SunTrust Banks in a research note on Monday, October 8th. Zacks Investment Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Finally, BMO Capital Markets reduced their target price on shares of SunTrust Banks from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Monday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. SunTrust Banks currently has a consensus rating of “Hold” and a consensus price target of $77.00.

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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.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

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

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