Ownership Action Don’t Lie: Institutional Investors Lead Shift in Suntrust Banks Inc (NYSE:STI) Sentiment

November 25, 2016 - By Peter Erickson   ·   0 Comments

Ownership Action Don't Lie: Institutional Investors Lead Shift in Suntrust Banks Inc (NYSE:STI) Sentiment

Sentiment for Suntrust Banks Inc (NYSE:STI)

Suntrust Banks Inc (NYSE:STI) institutional sentiment decreased to 0.87 in 2016 Q2. Its down -0.07, from 0.94 in 2016Q1. The ratio turned negative, as 263 funds increased or opened new stock positions, while 281 sold and reduced their holdings in Suntrust Banks Inc. The funds in our partner’s database now hold: 402.06 million shares, down from 409.14 million shares in 2016Q1. Also, the number of funds holding Suntrust Banks Inc in their top 10 stock positions increased from 8 to 9 for an increase of 1. Sold All: 51 Reduced: 230 Increased: 189 New Position: 74.

SunTrust Banks, Inc. is a bank holding firm and a financial holding company. The company has a market cap of $25.80 billion. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for clients and businesses, including deposit, credit, mortgage banking, and trust and investment services. It has a 14.51 P/E ratio. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services.

About 921,278 shares traded hands. SunTrust Banks, Inc. (NYSE:STI) has risen 24.79% since April 22, 2016 and is uptrending. It has outperformed by 19.38% the S&P500.

Analysts await SunTrust Banks, Inc. (NYSE:STI) to report earnings on January, 27. They expect $0.87 earnings per share, down 4.40% or $0.04 from last year’s $0.91 per share. STI’s profit will be $429.26 million for 15.03 P/E if the $0.87 EPS becomes a reality. After $0.91 actual earnings per share reported by SunTrust Banks, Inc. for the previous quarter, Wall Street now forecasts -4.40% negative EPS growth.

According to Zacks Investment Research, “SunTrust Banks, Inc. is a commercial banking organization. The company provides a wide range of services to meet the financial needs of its growing customer base in Alabama, Florida, Georgia, Maryland, Tennessee, Virginia, and the District of Columbia. Its primary businesses include traditional deposit and credit services as well as trust and investment services. (Company Press Release)”

Schneider Capital Management Corp holds 5.53% of its portfolio in SunTrust Banks, Inc. for 718,681 shares. Elizabeth Park Capital Advisors Ltd. owns 303,165 shares or 5.3% of their US portfolio. Moreover, First National Bank Of Mount Dora Trust Investment Services has 5.24% invested in the company for 222,585 shares. The Texas-based Matterhorn Capital Management Llc has invested 4.04% in the stock. Forest Hill Capital Llc, a Arkansas-based fund reported 661,383 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 6 insider sales for $999,654 net activity.

SunTrust Banks, Inc. (NYSE:STI) Ratings Coverage

Ratings analysis reveals 39% of Suntrust Banks Inc.’s analysts are positive. Out of 23 Wall Street analysts rating Suntrust Banks Inc., 9 give it “Buy”, 1 “Sell” rating, while 13 recommend “Hold”. The lowest target is $40 while the high is $50. The stock’s average target of $44.65 is -14.61% below today’s ($52.29) share price. STI was included in 45 notes of analysts from July 20, 2015. On Tuesday, November 24 the stock rating was initiated by Piper Jaffray with “Overweight”. As per Wednesday, September 9, the company rating was upgraded by CLSA. The rating was initiated by Sterne Agee CRT on Thursday, August 20 with “Neutral”. Citigroup maintained it with “Neutral” rating and $43 target price in Wednesday, October 21 report. The company was upgraded on Wednesday, September 9 by Credit Agricole. The firm has “Outperform” rating by FBR Capital given on Tuesday, October 11. The stock has “Buy” rating given by Zacks on Monday, September 7. Deutsche Bank maintained SunTrust Banks, Inc. (NYSE:STI) on Wednesday, August 12 with “Buy” rating. The firm earned “Outperform” rating on Friday, January 8 by Bernstein. The stock of SunTrust Banks, Inc. (NYSE:STI) has “Buy” rating given on Thursday, September 17 by Deutsche Bank.

STI Company Profile

SunTrust Banks, Inc., incorporated on July 24, 1984, is a bank holding firm and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for clients 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. The Firm operates through three divisions: Consumer Banking and Private Wealth Management, Wholesale Banking and Mortgage Banking. It also operates a Corporate Other segment, which includes the management of the Company’s investment securities portfolio, long-term debt, end-user derivative instruments, short-term liquidity and funding activities, balance sheet risk management, and real estate assets. The Firm operates primarily within Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia.

Another recent and important SunTrust Banks, Inc. (NYSE:STI) news was published by Prnewswire.com which published an article titled: “SunTrust Awarded $80 million in Tax Credit Authority to Finance Community …” on November 18, 2016.

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By Peter Erickson

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