Dana Investment Advisors buys $35.5 Million stake in SunTrust Banks (STI)

SunTrust Banks (STI) : Dana Investment Advisors scooped up 105,062 additional shares in SunTrust Banks during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 876,043 shares of SunTrust Banks which is valued at $35.5 Million.SunTrust Banks makes up approximately 1.63% of Dana Investment Advisors’s portfolio.

Other Hedge Funds, Including , Ubs Asset Management Americas Inc reduced its stake in STI by selling 46,055 shares or 3.53% in the most recent quarter. The Hedge Fund company now holds 1,257,317 shares of STI which is valued at $51 Million. SunTrust Banks makes up approx 0.06% of Ubs Asset Management Americas Inc’s portfolio.Trexquant Investment Lp boosted its stake in STI in the latest quarter, The investment management firm added 18,200 additional shares and now holds a total of 59,200 shares of SunTrust Banks which is valued at $2.4 Million. SunTrust Banks makes up approx 0.29% of Trexquant Investment Lp’s portfolio.Summit Asset Management boosted its stake in STI in the latest quarter, The investment management firm added 2,368 additional shares and now holds a total of 14,436 shares of SunTrust Banks which is valued at $586,535. SunTrust Banks makes up approx 0.27% of Summit Asset Management’s portfolio.Equity Investment Corpga boosted its stake in STI in the latest quarter, The investment management firm added 625,789 additional shares and now holds a total of 2,218,383 shares of SunTrust Banks which is valued at $90.1 Million. SunTrust Banks makes up approx 2.65% of Equity Investment Corpga’s portfolio.Ohio National Investments boosted its stake in STI in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 11,300 shares of SunTrust Banks which is valued at $471,662. SunTrust Banks makes up approx 0.09% of Ohio National Investments’s portfolio.

SunTrust Banks closed down -0.07 points or -0.16% at $42.55 with 39,09,164 shares getting traded on Friday. Post opening the session at $42.92, the shares hit an intraday low of $42.355 and an intraday high of $43.26 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, SunTrust Banks reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 22, 2016. Analyst had a consensus of $0.75. The company had revenue of $2099.00 million for the quarter, compared to analysts expectations of $2046.91 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Investors should note that on Apr 26, 2016, SunTrust Banks announced a cash dividend of $0.2400. The company’s management has announced May 26, 2016 as the ex-dividend date and fixed the record date on May 31, 2016. The payable date has been fixed on Jun 15, 2016.

Many Wall Street Analysts have commented on SunTrust Banks. Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 44 from a previous price target of $42 .SunTrust Banks was Upgraded by Raymond James to ” Outperform” on Apr 22, 2016. Shares were Reiterated by Compass Point on Apr 11, 2016 to “Buy” and Lowered the Price Target to $ 45 from a previous price target of $50 .

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. SunTrust operates the following business segments: 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 most real estate assets. SunTrust operates primarily within Florida Georgia Maryland North Carolina South Carolina Tennessee Virginia and the District of Columbia.

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