North Star Investment Management Corp. buys $2,770,654 stake in SunTrust Banks (STI)

SunTrust Banks (STI) : North Star Investment Management Corp. scooped up 98 additional shares in SunTrust Banks during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 60,720 shares of SunTrust Banks which is valued at $2,770,654.SunTrust Banks makes up approximately 0.50% of North Star Investment Management Corp.’s portfolio.

Other Hedge Funds, Including , Creative Planning boosted its stake in STI in the latest quarter, The investment management firm added 4,734 additional shares and now holds a total of 45,904 shares of SunTrust Banks which is valued at $2,094,600. SunTrust Banks makes up approx 0.01% of Creative Planning’s portfolio.Raymond James Trust N.a. reduced its stake in STI by selling 174 shares or 0.83% in the most recent quarter. The Hedge Fund company now holds 20,794 shares of STI which is valued at $959,851. SunTrust Banks makes up approx 0.08% of Raymond James Trust N.a.’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.Gillespie Robinson Grimm Inc reduced its stake in STI by selling 8,625 shares or 2.29% in the most recent quarter. The Hedge Fund company now holds 367,561 shares of STI which is valued at $16,966,616. SunTrust Banks makes up approx 2.62% of Gillespie Robinson Grimm Inc’s portfolio.Advisory Services Network reduced its stake in STI by selling 4,751 shares or 65.83% in the most recent quarter. The Hedge Fund company now holds 2,466 shares of STI which is valued at $112,672. SunTrust Banks makes up approx 0.02% of Advisory Services Network’s portfolio.

SunTrust Banks closed down -0.53 points or -1.15% at $45.63 with 30,32,207 shares getting traded on Tuesday. Post opening the session at $46.09, the shares hit an intraday low of $45.35 and an intraday high of $46.25 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. 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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