Matterhorn Capital Management buys $6,509,887 stake in SunTrust Banks (STI)

SunTrust Banks (STI) : Matterhorn Capital Management scooped up 22,332 additional shares in SunTrust Banks during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 154,813 shares of SunTrust Banks which is valued at $6,509,887.SunTrust Banks makes up approximately 4.05% of Matterhorn Capital Management’s portfolio.

Other Hedge Funds, Including , Quantitative Investment Management added STI to its portfolio by purchasing 150,200 company shares during the most recent quarter which is valued at $6,315,910. SunTrust Banks makes up approx 0.28% of Quantitative Investment Management’s portfolio.Sanders Capital reduced its stake in STI by selling 661 shares or 0.02% in the most recent quarter. The Hedge Fund company now holds 3,219,295 shares of STI which is valued at $136,143,986. SunTrust Banks makes up approx 1.09% of Sanders Capital’s portfolio.Meeder Asset Management Inc reduced its stake in STI by selling 33,860 shares or 37.09% in the most recent quarter. The Hedge Fund company now holds 57,435 shares of STI which is valued at $2,435,244. SunTrust Banks makes up approx 0.22% of Meeder Asset Management Inc’s portfolio.Heritage Investors Management Corp reduced its stake in STI by selling 2,661 shares or 21.76% in the most recent quarter. The Hedge Fund company now holds 9,568 shares of STI which is valued at $415,156. SunTrust Banks makes up approx 0.03% of Heritage Investors Management Corp’s portfolio. 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.

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.

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