Today: Today: Sentry Investment Management LLC Reached $1,740,000 position of SunTrust Banks Inc. (STI)

Today: Sentry Investment Management LLC Reached $1,740,000 position  of SunTrust Banks Inc. (STI)

Sentry Investment Management LLC continued to hold its stake in SunTrust Banks Inc. (NYSE:STI) during the third quarter, Holdings Channel reports. The fund owned 39,730 shares of the financial services provider’s stock at the end of the third quarter. Sentry Investment Management LLC’s holdings in SunTrust Banks were worth $1,740,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in SunTrust Banks by 64.4% in the second quarter. American Century Companies Inc. now owns 8,267,226 shares of the financial services provider’s stock valued at $339,618,000 after buying an additional 3,238,624 shares during the period. FMR LLC raised its stake in SunTrust Banks by 6.5% in the second quarter. FMR LLC now owns 31,288,755 shares of the financial services provider’s stock valued at $1,285,342,000 after buying an additional 1,918,166 shares during the period. Bank of New York Mellon Corp raised its stake in SunTrust Banks by 28.4% in the second quarter. Bank of New York Mellon Corp now owns 7,066,156 shares of the financial services provider’s stock valued at $290,278,000 after buying an additional 1,564,929 shares during the period. Bank of Montreal Can purchased a new stake in SunTrust Banks during the second quarter valued at about $55,797,000. Finally, Vanguard Group Inc. raised its stake in SunTrust Banks by 4.2% in the second quarter. Vanguard Group Inc. now owns 32,829,325 shares of the financial services provider’s stock valued at $1,348,629,000 after buying an additional 1,335,505 shares during the period. 81.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SunTrust Banks Inc. (NYSE:STI) traded down 0.82% during mid-day trading on Monday, hitting $51.77. 1,050,343 shares of the stock traded hands. The stock has a market cap of $25.67 billion, a price-to-earnings ratio of 14.34 and a beta of 1.36. The firm’s 50-day moving average is $47.46 and its 200-day moving average is $43.85. 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.03. SunTrust Banks had a return on equity of 8.18% and a net margin of 21.12%. The company earned $2.20 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. SunTrust Banks’s revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that SunTrust Banks Inc. will post $3.57 earnings per share for the current year.

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

Several analysts have issued reports on STI shares. Sanford C. Bernstein lowered shares of SunTrust Banks from an “outperform” rating to a “market perform” rating and set a $43.00 price target on the stock. in a research report on Tuesday, August 16th. They noted that the move was a valuation call. Wedbush started coverage on shares of SunTrust Banks in a research report on Thursday, October 6th. They set a “neutral” rating and a $47.00 price target on the stock. Zacks Investment Research lowered shares of SunTrust Banks from a “buy” rating to a “hold” rating in a research report on Monday, September 26th. Robert W. Baird reaffirmed an “underperform” rating on shares of SunTrust Banks in a research report on Thursday, August 4th. Finally, Wells Fargo & Co. downgraded shares of SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Friday, November 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. SunTrust Banks presently has an average rating of “Hold” and an average 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 stock was sold at an average price of $45.90, for a total value of $393,959.70. Following the completion of the sale, the insider now owns 239,652 shares in the company, valued at approximately $11,000,026.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan S. Johnson sold 794 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $45.58, for a total value of $36,190.52. Following the completion of the sale, the insider now owns 1,947 shares of the company’s stock, valued at approximately $88,744.26. The disclosure for this sale can be found here. 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.

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