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SunTrust misses despite boost

The regional bank earned $1.98 a share in Q3, up 408% from a year ago but 1 cent off views. SunTrust (STI) cited a $1.47 EPS boost from its ongoing divestiture of its Coca-Cola (KO) shares. Revenue rose 75% to $3.8 bil, topping. The bank noted improving mortgage production income, commercial loan growth and a dip in nonperforming loans. But it upped by $371 mil reserves to cover expected losses on loans sold to Fannie Mae, Freddie Mac and others. Shares fell 3.4% to 27.67.