Salem Investment Counselors Inc buys $10.8 Million stake in Synovus Financial Corp. (SNV)

Synovus Financial Corp. (SNV) : Salem Investment Counselors Inc scooped up 639 additional shares in Synovus Financial Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 361,326 shares of Synovus Financial Corp. which is valued at $10.8 Million.Synovus Financial Corp. makes up approximately 1.35% of Salem Investment Counselors Inc’s portfolio.

Other Hedge Funds, Including , Keeley Asset Management Corp reduced its stake in SNV by selling 344,465 shares or 21.28% in the most recent quarter. The Hedge Fund company now holds 1,274,388 shares of SNV which is valued at $37.9 Million. Synovus Financial Corp. makes up approx 1.46% of Keeley Asset Management Corp’s portfolio.Ftb Advisors reduced its stake in SNV by selling 982 shares or 45.44% in the most recent quarter. The Hedge Fund company now holds 1,179 shares of SNV which is valued at $35,099.New York State Common Retirement Fund boosted its stake in SNV in the latest quarter, The investment management firm added 82,737 additional shares and now holds a total of 423,801 shares of Synovus Financial Corp. which is valued at $12.7 Million. Synovus Financial Corp. makes up approx 0.02% of New York State Common Retirement Fund’s portfolio.Schwab Charles Investment Management Inc reduced its stake in SNV by selling 46,997 shares or 10.51% in the most recent quarter. The Hedge Fund company now holds 400,219 shares of SNV which is valued at $12 Million. Synovus Financial Corp. makes up approx 0.02% of Schwab Charles Investment Management Inc’s portfolio.Russell Frank Co boosted its stake in SNV in the latest quarter, The investment management firm added 107,239 additional shares and now holds a total of 246,992 shares of Synovus Financial Corp. which is valued at $7.7 Million. Synovus Financial Corp. makes up approx 0.01% of Russell Frank Co’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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