SunTrust Banks (STI) : Lakeview Capital Partners reduced its stake in SunTrust Banks by 9.41% during the most recent quarter end. The investment management company now holds a total of 21,651 shares of SunTrust Banks which is valued at $905,878 after selling 2,249 shares in SunTrust Banks , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.SunTrust Banks makes up approximately 0.53% of Lakeview Capital Partners’s portfolio.
Other Hedge Funds, Including , Fort Washington Investment Advisors Inc Oh added STI to its portfolio by purchasing 21,478 company shares during the most recent quarter which is valued at $898,640. SunTrust Banks makes up approx 0.02% of Fort Washington Investment Advisors Inc Oh’s portfolio.New York State Common Retirement Fund reduced its stake in STI by selling 6,806 shares or 0.31% in the most recent quarter. The Hedge Fund company now holds 2,182,399 shares of STI which is valued at $91,311,574. SunTrust Banks makes up approx 0.13% of New York State Common Retirement Fund’s portfolio.Teacher Retirement System Of Texas reduced its stake in STI by selling 84,414 shares or 5.44% in the most recent quarter. The Hedge Fund company now holds 1,468,046 shares of STI which is valued at $62,597,481. SunTrust Banks makes up approx 0.41% of Teacher Retirement System Of Texas’s portfolio.Los Angeles Capital Management Equity Research Inc reduced its stake in STI by selling 1,124 shares or 0.44% in the most recent quarter. The Hedge Fund company now holds 254,578 shares of STI which is valued at $10,702,459. SunTrust Banks makes up approx 0.09% of Los Angeles Capital Management Equity Research Inc’s portfolio.Cibc World Markets reduced its stake in STI by selling 2,235 shares or 9.71% in the most recent quarter. The Hedge Fund company now holds 20,786 shares of STI which is valued at $881,326.
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.