SunTrust Banks (STI) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in shares of SunTrust Banks (NYSE:STI) by 42.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,396 shares of the financial services provider’s stock after purchasing an additional 54,867 shares during the period. Teacher Retirement System of Texas’ holdings in SunTrust Banks were worth $12,546,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Timber Hill LLC boosted its position in SunTrust Banks by 13.4% during the 1st quarter. Timber Hill LLC now owns 41,960 shares of the financial services provider’s stock valued at $2,855,000 after acquiring an additional 4,963 shares in the last quarter. WESPAC Advisors LLC boosted its position in SunTrust Banks by 40.5% during the 1st quarter. WESPAC Advisors LLC now owns 10,574 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 3,047 shares in the last quarter. Tyers Asset Management LLC boosted its position in SunTrust Banks by 34.5% during the 1st quarter. Tyers Asset Management LLC now owns 51,238 shares of the financial services provider’s stock valued at $3,486,000 after acquiring an additional 13,156 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of SunTrust Banks by 37.1% in the 1st quarter. Riverhead Capital Management LLC now owns 41,046 shares of the financial services provider’s stock worth $2,793,000 after purchasing an additional 11,099 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its position in shares of SunTrust Banks by 155.3% in the 1st quarter. AdvisorNet Financial Inc now owns 10,532 shares of the financial services provider’s stock worth $717,000 after purchasing an additional 6,407 shares in the last quarter. Institutional investors own 83.68% of the company’s stock.

A number of analysts have recently commented on STI shares. Zacks Investment Research raised SunTrust Banks from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Wednesday, March 21st. Credit Suisse Group reissued a “hold” rating and issued a $71.00 price target on shares of SunTrust Banks in a research report on Monday, February 26th. ValuEngine raised SunTrust Banks from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $75.00 price target on shares of SunTrust Banks in a research report on Thursday, April 5th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $75.00 price target on shares of SunTrust Banks in a research report on Sunday, April 22nd. Eighteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. SunTrust Banks currently has a consensus rating of “Hold” and a consensus price target of $70.50.

SunTrust Banks opened at $68.65 on Monday, Marketbeat Ratings reports. The company has a market capitalization of $31.91 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.33. SunTrust Banks has a 12-month low of $51.96 and a 12-month high of $73.37. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48.

SunTrust Banks (NYSE:STI) last released its quarterly earnings data on Friday, April 20th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.18. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.29 billion. SunTrust Banks had a return on equity of 10.05% and a net margin of 24.92%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. analysts forecast that SunTrust Banks will post 5.28 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. SunTrust Banks’s dividend payout ratio is presently 39.60%.

In other SunTrust Banks news, EVP Jerome T. Lienhard sold 8,750 shares of the business’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $69.06, for a total transaction of $604,275.00. Following the completion of the sale, the executive vice president now directly owns 41,374 shares in the company, valued at approximately $2,857,288.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Susan S. Johnson sold 3,600 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.04, for a total transaction of $255,744.00. Following the sale, the insider now owns 8,857 shares of the company’s stock, valued at $629,201.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,850 shares of company stock valued at $961,044. Company insiders own 0.52% of the company’s stock.

About SunTrust Banks

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.

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

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