SunTrust Banks (STI) : Engineers Gate Manager Lp added new position in SunTrust Banks during the most recent quarter end. The investment management firm now holds 168,287 shares of SunTrust Banks which is valued at $7,041,128 , the company said in a statement filed on Aug 11, 2016 with the SEC.SunTrust Banks makes up approximately 0.48% of Engineers Gate Manager Lp’s portfolio.
Other Hedge Funds, Including , Tiaa Cref Investment Management boosted its stake in STI in the latest quarter, The investment management firm added 538,110 additional shares and now holds a total of 2,313,373 shares of SunTrust Banks which is valued at $96,791,526. SunTrust Banks makes up approx 0.07% of Tiaa Cref Investment Management’s portfolio. Herndon Capital Management added STI to its portfolio by purchasing 46 company shares during the most recent quarter which is valued at $1,945.
SunTrust Banks closed down -0.19 points or -0.44% at $42.69 with 20,68,286 shares getting traded on Tuesday. Post opening the session at $42.93, the shares hit an intraday low of $42.69 and an intraday high of $43.12 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, SunTrust Banks reported $0.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.88. The company had revenue of $2221.00 million for the quarter, compared to analysts expectations of $2157.32 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.
Investors should note that on Aug 9, 2016, SunTrust Banks announced a cash dividend of $0.2600. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.
Many Wall Street Analysts have commented on SunTrust Banks. SunTrust Banks was Downgraded by Bernstein to ” Mkt Perform” on Aug 16, 2016. Company shares were Reiterated by Compass Point on Jul 26, 2016 to “Buy”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .Company shares were Reiterated by Goldman on Jul 25, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $44 .
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.