Bank of New York Mellon Corp decreased its stake in SunTrust Banks Inc. (NYSE:STI) by 0.5% during the third quarter, Holdings Channel reports. The firm owned 7,034,201 shares of the financial services provider’s stock after selling 31,955 shares during the period. Bank of New York Mellon Corp’s holdings in SunTrust Banks were worth $308,099,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in SunTrust Banks by 13.0% in the second quarter. Victory Capital Management Inc. now owns 4,105,521 shares of the financial services provider’s stock valued at $168,654,000 after buying an additional 471,201 shares during the period. Roosevelt Investment Group Inc. raised its stake in SunTrust Banks by 43.0% in the second quarter. Roosevelt Investment Group Inc. now owns 594,445 shares of the financial services provider’s stock valued at $24,420,000 after buying an additional 178,795 shares during the period. Standard Life Investments LTD raised its stake in SunTrust Banks by 0.6% in the second quarter. Standard Life Investments LTD now owns 2,153,447 shares of the financial services provider’s stock valued at $88,496,000 after buying an additional 11,808 shares during the period. BB&T Corp raised its stake in SunTrust Banks by 63.3% in the second quarter. BB&T Corp now owns 247,768 shares of the financial services provider’s stock valued at $10,178,000 after buying an additional 96,045 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in SunTrust Banks by 1.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 38,926 shares of the financial services provider’s stock valued at $1,599,000 after buying an additional 418 shares during the period. Hedge funds and other institutional investors own 81.23% of the company’s stock.

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

SunTrust Banks Inc. (NYSE:STI) opened at 51.56 on Tuesday. The stock’s 50 day moving average is $47.63 and its 200 day moving average is $43.96. The firm has a market cap of $25.57 billion, a price-to-earnings ratio of 14.28 and a beta of 1.36. SunTrust Banks Inc. has a 52 week low of $31.07 and a 52 week high of $52.65.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Friday, October 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. The firm earned $2.20 billion during the quarter, compared to analysts’ expectations of $2.15 billion. SunTrust Banks had a net margin of 21.12% and a return on equity of 8.18%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.00 earnings per share. Equities research analysts expect that SunTrust Banks Inc. will post $3.57 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Monday, November 28th. SunTrust Banks’s dividend payout ratio is currently 28.89%.

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Several research analysts have commented on STI shares. Zacks Investment Research upgraded shares of SunTrust Banks from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, September 21st. Wells Fargo & Co. cut shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a research report on Friday, November 18th. Morgan Stanley cut shares of SunTrust Banks from an “equal weight” rating to an “underweight” rating and set a $53.00 target price for the company. in a research report on Monday, November 14th. They noted that the move was a valuation call. upped their target price on shares of SunTrust Banks from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. Finally, Standpoint Research cut shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.13.

In related news, insider Aleem Gillani sold 8,583 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $45.90, for a total transaction of $393,959.70. Following the completion of the transaction, the insider now owns 239,652 shares in the company, valued at $11,000,026.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anil T. Cheriyan sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $52.15, for a total transaction of $417,200.00. Following the transaction, the insider now owns 81,203 shares of the company’s stock, valued at approximately $4,234,736.45. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

About SunTrust Banks

SunTrust Banks, Inc is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.

5 Day Chart for NYSE:STI

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