Roosevelt Investment Group Inc Lowers stake in SunTrust Banks (STI)

SunTrust Banks (STI) : Roosevelt Investment Group Inc reduced its stake in SunTrust Banks by 23.24% during the most recent quarter end. The investment management company now holds a total of 415,650 shares of SunTrust Banks which is valued at $16.9 Million after selling 125,825 shares in SunTrust Banks , the firm said in a disclosure report filed with the SEC on May 13, 2016.SunTrust Banks makes up approximately 1.50% of Roosevelt Investment Group Inc’s portfolio.

Other Hedge Funds, Including , Nomura Asset Management Co Ltd boosted its stake in STI in the latest quarter, The investment management firm added 1,850 additional shares and now holds a total of 70,434 shares of SunTrust Banks which is valued at $2.9 Million. SunTrust Banks makes up approx 0.05% of Nomura Asset Management Co Ltd’s portfolio.Cornercap Investment Counsel Inc boosted its stake in STI in the latest quarter, The investment management firm added 607 additional shares and now holds a total of 13,061 shares of SunTrust Banks which is valued at $529,754. SunTrust Banks makes up approx 0.10% of Cornercap Investment Counsel Inc’s portfolio.Amalgamated Bank boosted its stake in STI in the latest quarter, The investment management firm added 4,875 additional shares and now holds a total of 18,385 shares of SunTrust Banks which is valued at $745,696. SunTrust Banks makes up approx 0.07% of Amalgamated Bank’s portfolio.Andra Ap-fonden boosted its stake in STI in the latest quarter, The investment management firm added 5,300 additional shares and now holds a total of 112,800 shares of SunTrust Banks which is valued at $4.6 Million. SunTrust Banks makes up approx 0.12% of Andra Ap-fonden’s portfolio.

SunTrust Banks opened for trading at $43.47 and hit $44.32 on the upside on Wednesday, eventually ending the session at $43.98, with a gain of 2.02% or 0.87 points. The heightened volatility saw the trading volume jump to 39,01,063 shares. Company has a market cap of $22,040 M.

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.

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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