SunTrust Banks (STI) : Mendon Capital Advisors Corp added new position in SunTrust Banks during the most recent quarter end. The investment management firm now holds 200,000 shares of SunTrust Banks which is valued at $8,410,000 , the company said in a statement filed on Aug 3, 2016 with the SEC.SunTrust Banks makes up approximately 1.53% of Mendon Capital Advisors Corp’s portfolio.
Other Hedge Funds, Including , California Public Employees Retirement System reduced its stake in STI by selling 41,300 shares or 2.46% in the most recent quarter. The Hedge Fund company now holds 1,640,900 shares of STI which is valued at $68,999,845. SunTrust Banks makes up approx 0.11% of California Public Employees Retirement System’s portfolio.Livingston Group Asset Management Co (operating As Southp… reduced its stake in STI by selling 510 shares or 6.34% in the most recent quarter. The Hedge Fund company now holds 7,529 shares of STI which is valued at $318,853. SunTrust Banks makes up approx 0.17% of Livingston Group Asset Management Co (operating As Southp…’s portfolio.W.g. Shaheen Associates Dba Whitney Co boosted its stake in STI in the latest quarter, The investment management firm added 1,675 additional shares and now holds a total of 50,895 shares of SunTrust Banks which is valued at $2,157,948. SunTrust Banks makes up approx 0.85% of W.g. Shaheen Associates Dba Whitney Co’s portfolio.Creative Planning boosted its stake in STI in the latest quarter, The investment management firm added 571 additional shares and now holds a total of 41,170 shares of SunTrust Banks which is valued at $1,759,606. SunTrust Banks makes up approx 0.01% of Creative Planning’s portfolio.
SunTrust Banks closed down -0.26 points or -0.61% at $42.64 with 31,56,429 shares getting traded on Monday. Post opening the session at $43, the shares hit an intraday low of $42.5 and an intraday high of $43.2775 and the price fluctuated in this range throughout the day.Shares ended Monday 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.
Many Wall Street Analysts have commented on SunTrust Banks. 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 .Shares were Downgraded by Robert W. Baird on Jul 15, 2016 to ” Underperform” and Lowered the Price Target to $ 41 from a previous price target of $43 .
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.