SunTrust Banks, Inc. (STI) Stake Lessened by Valeo Financial Advisors LLC

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Valeo Financial Advisors LLC trimmed its holdings in SunTrust Banks, Inc. (NYSE:STI) by 37.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,267 shares of the financial services provider’s stock after selling 759 shares during the period. Valeo Financial Advisors LLC’s holdings in SunTrust Banks were worth $75,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STI. Norges Bank acquired a new stake in shares of SunTrust Banks in the fourth quarter valued at approximately $204,713,000. Oregon Public Employees Retirement Fund lifted its holdings in SunTrust Banks by 4,883.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,581,469 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 2,529,671 shares during the last quarter. Bessemer Group Inc. lifted its holdings in SunTrust Banks by 21,740.3% during the 4th quarter. Bessemer Group Inc. now owns 1,416,126 shares of the financial services provider’s stock worth $71,429,000 after purchasing an additional 1,409,642 shares during the last quarter. Deutsche Bank AG lifted its holdings in SunTrust Banks by 171.1% during the 4th quarter. Deutsche Bank AG now owns 2,094,544 shares of the financial services provider’s stock worth $105,645,000 after purchasing an additional 1,321,862 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in SunTrust Banks by 229.4% during the 4th quarter. Two Sigma Advisers LP now owns 1,766,609 shares of the financial services provider’s stock worth $89,108,000 after purchasing an additional 1,230,300 shares during the last quarter. 81.15% of the stock is owned by institutional investors.

Shares of STI opened at $62.12 on Tuesday. SunTrust Banks, Inc. has a 52-week low of $46.05 and a 52-week high of $75.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market capitalization of $27.87 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.54.

SunTrust Banks (NYSE:STI) last issued its quarterly earnings results on Friday, January 18th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.10. SunTrust Banks had a return on equity of 12.40% and a net margin of 26.61%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the company posted $1.09 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts expect that SunTrust Banks, Inc. will post 5.74 earnings per share for the current year.

In related news, EVP Jorge Arrieta sold 4,000 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $66.25, for a total transaction of $265,000.00. Following the sale, the executive vice president now owns 8,662 shares of the company’s stock, valued at approximately $573,857.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Mark A. Chancy sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $65.38, for a total value of $653,800.00. Following the sale, the insider now directly owns 205,846 shares in the company, valued at approximately $13,458,211.48. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Several research firms recently weighed in on STI. Wells Fargo & Co reissued a “buy” rating on shares of SunTrust Banks in a report on Monday, March 18th. BMO Capital Markets reissued a “hold” rating and set a $61.00 price target on shares of SunTrust Banks in a report on Sunday, January 20th. ValuEngine raised SunTrust Banks from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Robert W. Baird upgraded SunTrust Banks from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from $70.00 to $62.00 in a research note on Wednesday, January 2nd. Finally, Wedbush raised their price objective on SunTrust Banks from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $70.96.

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SunTrust Banks Profile

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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