Ejf Capital Lowers stake in Synovus Financial Corp. (SNV)

Synovus Financial Corp. (SNV) : Ejf Capital reduced its stake in Synovus Financial Corp. by 30.56% during the most recent quarter end. The investment management company now holds a total of 1,250,002 shares of Synovus Financial Corp. which is valued at $37.2 Million after selling 550,000 shares in Synovus Financial Corp. , the firm said in a disclosure report filed with the SEC on May 13, 2016.Synovus Financial Corp. makes up approximately 3.70% of Ejf Capital’s portfolio.

Other Hedge Funds, Including , Wellington Management Group Llp sold out all of its stake in SNV during the most recent quarter. The investment firm sold 53,039 shares of SNV which is valued $1.6 Million. Ausdal Financial Partners sold out all of its stake in SNV during the most recent quarter. The investment firm sold 3,560 shares of SNV which is valued $106,622.Nationwide Fund Advisors reduced its stake in SNV by selling 7,237 shares or 3.21% in the most recent quarter. The Hedge Fund company now holds 218,348 shares of SNV which is valued at $6.5 Million. Synovus Financial Corp. makes up approx 0.03% of Nationwide Fund Advisors’s portfolio.Calvert Investment Management boosted its stake in SNV in the latest quarter, The investment management firm added 599 additional shares and now holds a total of 9,091 shares of Synovus Financial Corp. which is valued at $272,275. Synovus Financial Corp. makes up approx 0.01% of Calvert Investment Management’s portfolio.

Synovus Financial Corp. opened for trading at $31.89 and hit $32.385 on the upside on Wednesday, eventually ending the session at $32.09, with a gain of 1.29% or 0.41 points. The heightened volatility saw the trading volume jump to 9,28,309 shares. Company has a market cap of $4,027 M.

On the company’s financial health, Synovus Financial Corp. reported $0.43 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 19, 2016. Analyst had a consensus of $0.44.Analysts expectations of $ 275.54.During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on Synovus Financial Corp.. Company shares were Reiterated by Hovde Group on Apr 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 34.50 from a previous price target of $31.50 .Synovus Financial Corp. was Downgraded by Raymond James to ” Mkt Perform” on Apr 20, 2016.

Synovus Financial Corp. (Synovus) is a financial services and a bank holding company. The Company provides integrated financial services including commercial and retail banking financial management insurance and mortgage services to its customers through 28 locally branded banking divisions of its wholly owned subsidiary bank Synovus Bank and other offices in Georgia Alabama South Carolina Florida and Tennessee. Its retail banking services include accepting customary types of demand and savings deposits; mortgage installment and other retail loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet-based banking services and bank credit card services including MasterCard and Visa services. The Company’s commercial banking services include cash management asset management capital markets services institutional trust services and commercial financial and real estate loans.

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