Cetera Advisors LLC Acquires 1,554 Shares of SunTrust Banks, Inc. (NYSE:STI)

Cetera Advisors LLC lifted its holdings in shares of SunTrust Banks, Inc. (NYSE:STI) by 38.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,570 shares of the financial services provider’s stock after purchasing an additional 1,554 shares during the period. Cetera Advisors LLC’s holdings in SunTrust Banks were worth $383,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. increased its position in shares of SunTrust Banks by 1.0% during the second quarter. BlackRock Inc. now owns 34,383,356 shares of the financial services provider’s stock worth $2,160,993,000 after acquiring an additional 329,505 shares in the last quarter. Boston Partners increased its position in shares of SunTrust Banks by 20.8% during the second quarter. Boston Partners now owns 7,542,083 shares of the financial services provider’s stock worth $474,081,000 after acquiring an additional 1,300,707 shares in the last quarter. Northern Trust Corp increased its position in shares of SunTrust Banks by 0.3% during the second quarter. Northern Trust Corp now owns 5,048,525 shares of the financial services provider’s stock worth $317,299,000 after acquiring an additional 16,432 shares in the last quarter. Invesco Ltd. increased its position in shares of SunTrust Banks by 103.9% during the second quarter. Invesco Ltd. now owns 4,050,200 shares of the financial services provider’s stock worth $254,555,000 after acquiring an additional 2,064,186 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of SunTrust Banks by 39,604.7% during the third quarter. Assenagon Asset Management S.A. now owns 2,920,284 shares of the financial services provider’s stock worth $200,916,000 after acquiring an additional 2,912,929 shares in the last quarter. 78.70% of the stock is owned by institutional investors.

Shares of STI stock opened at $71.04 on Tuesday. SunTrust Banks, Inc. has a 52-week low of $46.05 and a 52-week high of $71.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.98 and a current ratio of 0.99. The company has a 50-day simple moving average of $68.71 and a two-hundred day simple moving average of $64.76. The company has a market capitalization of $31.31 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.60 and a beta of 1.53.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.40. SunTrust Banks had a net margin of 22.31% and a return on equity of 11.40%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the firm posted $1.56 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that SunTrust Banks, Inc. will post 5.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Friday, November 8th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, November 7th. SunTrust Banks’s payout ratio is 39.30%.

STI has been the subject of several recent research reports. Morgan Stanley reissued a “hold” rating and set a $72.00 target price on shares of SunTrust Banks in a research report on Monday. Jefferies Financial Group raised shares of SunTrust Banks from a “hold” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $75.00 in a research report on Tuesday, October 8th. Finally, UBS Group reduced their price objective on shares of SunTrust Banks from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $68.28.

About SunTrust Banks

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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