Exencial Wealth Advisors buys $3,090,846 stake in SunTrust Banks (STI)

SunTrust Banks (STI) : Exencial Wealth Advisors scooped up 2,791 additional shares in SunTrust Banks during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 73,873 shares of SunTrust Banks which is valued at $3,090,846.SunTrust Banks makes up approximately 1.34% of Exencial Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Carlson Capital L P sold out all of its stake in STI during the most recent quarter. The investment firm sold 620,919 shares of STI which is valued $25,979,251. Cipher Capital Lp sold out all of its stake in STI during the most recent quarter. The investment firm sold 109,900 shares of STI which is valued $4,598,216.Gareth Morgan Investments Limited Partnership reduced its stake in STI by selling 145,875 shares or 59.48% in the most recent quarter. The Hedge Fund company now holds 99,372 shares of STI which is valued at $4,157,724. SunTrust Banks makes up approx 0.39% of Gareth Morgan Investments Limited Partnership’s portfolio.Ssi Investment Management Inc boosted its stake in STI in the latest quarter, The investment management firm added 138 additional shares and now holds a total of 8,358 shares of SunTrust Banks which is valued at $351,370. SunTrust Banks makes up approx 0.10% of Ssi Investment Management Inc’s portfolio.Acadian Asset Management boosted its stake in STI in the latest quarter, The investment management firm added 920 additional shares and now holds a total of 6,412 shares of SunTrust Banks which is valued at $277,447.

SunTrust Banks closed down -0.28 points or -0.64% at $43.79 with 29,83,670 shares getting traded on Thursday. Post opening the session at $44.19, the shares hit an intraday low of $43.4 and an intraday high of $44.24 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. 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.

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