Ferguson Wellman Capital Management Inc buys $30,507,379 stake in SunTrust Banks (STI)

SunTrust Banks (STI) : Ferguson Wellman Capital Management Inc scooped up 3,590 additional shares in SunTrust Banks during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 703,097 shares of SunTrust Banks which is valued at $30,507,379.SunTrust Banks makes up approximately 1.24% of Ferguson Wellman Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Ruane Cunniff Goldfarb Inc sold out all of its stake in STI during the most recent quarter. The investment firm sold 30,906 shares of STI which is valued $1,341,011.Gillespie Robinson Grimm Inc reduced its stake in STI by selling 57,508 shares or 13.26% in the most recent quarter. The Hedge Fund company now holds 376,186 shares of STI which is valued at $16,078,190. SunTrust Banks makes up approx 2.50% of Gillespie Robinson Grimm Inc’s portfolio. Fisher Asset Management sold out all of its stake in STI during the most recent quarter. The investment firm sold 9,776 shares of STI which is valued $417,826. Cardinal Capital Management sold out all of its stake in STI during the most recent quarter. The investment firm sold 213,412 shares of STI which is valued $8,843,793.Washington Trust Bank boosted its stake in STI in the latest quarter, The investment management firm added 90 additional shares and now holds a total of 4,420 shares of SunTrust Banks which is valued at $183,165. SunTrust Banks makes up approx 0.05% of Washington Trust Bank’s portfolio.

SunTrust Banks closed down -0.11 points or -0.25% at $43.39 with 27,06,641 shares getting traded on Monday. Post opening the session at $43.37, the shares hit an intraday low of $43.29 and an intraday high of $43.66 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 $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 22, 2016. Analyst had a consensus of $0.75. The company had revenue of $2099.00 million for the quarter, compared to analysts expectations of $2046.91 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Many Wall Street Analysts have commented on SunTrust Banks. 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 was Upgraded by Portales Partners to ” Outperform” on Jun 28, 2016. SunTrust Banks was Downgraded by Susquehanna to ” Neutral” on Jun 7, 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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