Schneider Capital Management Corp Lowers stake in SunTrust Banks (STI)

SunTrust Banks (STI) : Schneider Capital Management Corp reduced its stake in SunTrust Banks by 0.42% during the most recent quarter end. The investment management company now holds a total of 718,681 shares of SunTrust Banks which is valued at $30,069,613 after selling 3,060 shares in SunTrust Banks , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.SunTrust Banks makes up approximately 5.13% of Schneider Capital Management Corp’s portfolio.

Other Hedge Funds, Including , Patten Group boosted its stake in STI in the latest quarter, The investment management firm added 6 additional shares and now holds a total of 38,310 shares of SunTrust Banks which is valued at $1,602,890. SunTrust Banks makes up approx 0.74% of Patten Group’s portfolio. Vantage Investment Advisors added STI to its portfolio by purchasing 33 company shares during the most recent quarter which is valued at $1,381.Advisors Asset Management reduced its stake in STI by selling 2,224 shares or 18.33% in the most recent quarter. The Hedge Fund company now holds 9,910 shares of STI which is valued at $416,616. SunTrust Banks makes up approx 0.01% of Advisors Asset Management’s portfolio.

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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