Vigilant Capital Management Lowers stake in SunTrust Banks (STI)

SunTrust Banks (STI) : Vigilant Capital Management reduced its stake in SunTrust Banks by 90.23% during the most recent quarter end. The investment management company now holds a total of 325 shares of SunTrust Banks which is valued at $14,635 after selling 3,000 shares in SunTrust Banks , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.

Other Hedge Funds, Including , North Star Investment Management Corp. boosted its stake in STI in the latest quarter, The investment management firm added 98 additional shares and now holds a total of 60,720 shares of SunTrust Banks which is valued at $2,770,654. SunTrust Banks makes up approx 0.50% of North Star Investment Management Corp.’s portfolio.Canal Capital Management boosted its stake in STI in the latest quarter, The investment management firm added 35 additional shares and now holds a total of 5,956 shares of SunTrust Banks which is valued at $274,929. SunTrust Banks makes up approx 0.26% of Canal Capital Management’s portfolio.Hudson Valley Investment Advisors Inc Adv boosted its stake in STI in the latest quarter, The investment management firm added 2,798 additional shares and now holds a total of 48,713 shares of SunTrust Banks which is valued at $2,248,592. SunTrust Banks makes up approx 0.69% of Hudson Valley Investment Advisors Inc Adv’s portfolio.Central Bank Trust Co boosted its stake in STI in the latest quarter, The investment management firm added 3,181 additional shares and now holds a total of 90,295 shares of SunTrust Banks which is valued at $4,125,579. SunTrust Banks makes up approx 1.17% of Central Bank Trust Co’s portfolio.

SunTrust Banks opened for trading at $45.23 and hit $45.63 on the upside on Friday, eventually ending the session at $45.03, with a gain of 0.60% or 0.27 points. The heightened volatility saw the trading volume jump to 40,41,016 shares. Company has a market cap of $22,323 M.

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. FBR & Co. Resumed SunTrust Banks on Oct 11, 2016 to “Outperform”, Price Target of the shares are set at $49.Wedbush Initiated SunTrust Banks on Oct 7, 2016 to “Neutral”, Price Target of the shares are set at $47.SunTrust Banks was Downgraded by Bernstein to ” Mkt Perform” on Aug 16, 2016.

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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