SunTrust Banks (STI) : Tuttle Tactical Management added new position in SunTrust Banks during the most recent quarter end. The investment management firm now holds 4,563 shares of SunTrust Banks which is valued at $190,916 , the company said in a statement filed on Aug 10, 2016 with the SEC.SunTrust Banks makes up approximately 0.17% of Tuttle Tactical Management’s portfolio.
Other Hedge Funds, Including , Pinebridge Investments boosted its stake in STI in the latest quarter, The investment management firm added 104,488 additional shares and now holds a total of 120,085 shares of SunTrust Banks which is valued at $5,024,356. SunTrust Banks makes up approx 0.25% of Pinebridge Investments’s portfolio.Thompson Davis boosted its stake in STI in the latest quarter, The investment management firm added 415 additional shares and now holds a total of 515 shares of SunTrust Banks which is valued at $21,960. SunTrust Banks makes up approx 0.03% of Thompson Davis’s portfolio. Scout Investments sold out all of its stake in STI during the most recent quarter. The investment firm sold 308,708 shares of STI which is valued $12,978,084.Matterhorn Capital Management boosted its stake in STI in the latest quarter, The investment management firm added 22,332 additional shares and now holds a total of 154,813 shares of SunTrust Banks which is valued at $6,509,887. SunTrust Banks makes up approx 4.05% of Matterhorn Capital Management’s portfolio.Anchor Capital Advisors reduced its stake in STI by selling 49,602 shares or 3.85% in the most recent quarter. The Hedge Fund company now holds 1,239,351 shares of STI which is valued at $52,114,710. SunTrust Banks makes up approx 1.34% of Anchor Capital Advisors’s portfolio.
SunTrust Banks opened for trading at $42.76 and hit $42.9 on the upside on Friday, eventually ending the session at $42.86, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 25,33,970 shares. Company has a market cap of $21,247 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.
Investors should note that on Aug 9, 2016, SunTrust Banks announced a cash dividend of $0.2600. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.
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.