What’s in Suntrust Banks Inc (NYSE:STI) After Decline in Shorted Shares?

July 13, 2018 – By Dolores Ford

SunTrust Banks, Inc. (NYSE:STI) Logo

Investors sentiment decreased to 1.04 in 2018 Q1. Its down 0.05, from 1.09 in 2017Q4. It is negative, as 50 investors sold SunTrust Banks, Inc. shares while 246 reduced holdings. 94 funds opened positions while 215 raised stakes. 380.01 million shares or 0.41% less from 381.57 million shares in 2017Q4 were reported.
First Midwest Bancorp Division reported 0.33% stake. Synovus Financial, Georgia-based fund reported 194,794 shares. Caprock Gp holds 0.08% or 5,653 shares. Wunderlich Managemnt holds 0.98% or 20,897 shares in its portfolio. Waddell Reed Fincl Incorporated holds 0.12% or 792,100 shares. Fisher Asset Llc accumulated 15,540 shares. Highstreet Asset Mngmt holds 0.05% in SunTrust Banks, Inc. (NYSE:STI) or 12,133 shares. Moors & Cabot invested in 0.06% or 7,055 shares. Highlander Management Ltd Limited Liability Company accumulated 3,542 shares. Associated Banc reported 0.23% of its portfolio in SunTrust Banks, Inc. (NYSE:STI). Minnesota-based Advantus Cap Mgmt has invested 0.08% in SunTrust Banks, Inc. (NYSE:STI). Boston Ptnrs, Massachusetts-based fund reported 5.38 million shares. Fiduciary accumulated 3,279 shares. Summit Asset Ltd Com has invested 0.37% in SunTrust Banks, Inc. (NYSE:STI). Plante Moran Fincl Advsrs Limited Liability Com holds 0.03% or 852 shares in its portfolio.

Since January 23, 2018, it had 2 buys, and 6 selling transactions for $2.29 million activity. $255,737 worth of SunTrust Banks, Inc. (NYSE:STI) was sold by Johnson Susan S. 8,750 shares were sold by Lienhard Jerome T, worth $604,275. On Wednesday, May 2 Scanlan Agnes Bundy sold $101,025 worth of SunTrust Banks, Inc. (NYSE:STI) or 1,500 shares. VOORHEES STEVEN C also bought $395,760 worth of SunTrust Banks, Inc. (NYSE:STI) shares. Chancy Mark A sold $525,975 worth of SunTrust Banks, Inc. (NYSE:STI) on Friday, February 16. SCRUGGS FRANK P JR bought $69,010 worth of stock or 1,000 shares.

The stock of Suntrust Banks Inc (NYSE:STI) registered a decrease of 7.37% in short interest. STI’s total short interest was 9.94M shares in July as published by FINRA. Its down 7.37% from 10.73M shares, reported previously. With 3.49M shares average volume, it will take short sellers 3 days to cover their STI’s short positions. The short interest to Suntrust Banks Inc’s float is 2.1%.

The stock decreased 1.37% or $0.94 during the last trading session, reaching $67.92. About 869,219 shares traded. SunTrust Banks, Inc. (NYSE:STI) has risen 26.44% since July 13, 2017 and is uptrending. It has outperformed by 13.87% the S&P500.

SunTrust Banks, Inc. operates as the holding firm for SunTrust Bank that provides various financial services for consumers, businesses, firms, and institutions in the United States. The company has market cap of $31.57 billion. It operates through three divisions: Consumer Banking and Private Wealth Management, Wholesale Banking, and Mortgage Banking. It has a 15.19 P/E ratio. The Consumer Banking and Private Wealth Management 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; and professional investment management and trust services, as well as family office solutions.

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

Among 14 analysts covering SunTrust Banks (NYSE:STI), 9 have Buy rating, 0 Sell and 5 Hold. Therefore 64% are positive. SunTrust Banks had 19 analyst reports since January 19, 2018 according to SRatingsIntel. The stock of SunTrust Banks, Inc. (NYSE:STI) earned “Hold” rating by Stephens on Monday, April 23. The rating was upgraded by Argus Research on Monday, July 2 to “Buy”. Morgan Stanley maintained it with “Overweight” rating and $80 target in Friday, February 2 report. Credit Suisse maintained the shares of STI in report on Monday, April 23 with “Neutral” rating. The firm has “Hold” rating given on Friday, January 19 by Susquehanna. As per Monday, January 22, the company rating was maintained by FBR Capital. RBC Capital Markets maintained it with “Buy” rating and $75.0 target in Friday, January 19 report. Piper Jaffray maintained the shares of STI in report on Sunday, April 22 with “Buy” rating. The stock has “Market Perform” rating by BMO Capital Markets on Monday, April 23. Bernstein upgraded the stock to “Outperform” rating in Wednesday, June 27 report.

More news for SunTrust Banks, Inc. (NYSE:STI) were recently published by: Seekingalpha.com, which released: “SunTrust expands aging services industry group nationally” on June 14, 2018. Bizjournals.com‘s article titled: “Construction update: An inside look at SunTrust’s next Orlando home (PHOTOS)” and published on July 12, 2018 is yet another important article.

SunTrust Banks, Inc. (NYSE:STI) Institutional Positions Chart

– Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings with our FREE daily email newsletter.

By Dolores Ford

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.