Sippican Capital Advisors Lowers stake in Synovus Financial Corp. (SNV)

Synovus Financial Corp. (SNV) : Sippican Capital Advisors reduced its stake in Synovus Financial Corp. by 0.08% during the most recent quarter end. The investment management company now holds a total of 83,857 shares of Synovus Financial Corp. which is valued at $2,496,423 after selling 64 shares in Synovus Financial Corp. , the firm said in a disclosure report filed with the SEC on May 9, 2016.Synovus Financial Corp. makes up approximately 3.20% of Sippican Capital Advisors’s portfolio.

Other Hedge Funds, Including , Nine Chapters Capital Management sold out all of its stake in SNV during the most recent quarter. The investment firm sold 64,400 shares of SNV which is valued $1,917,188. Princeton Alpha Management Lp added SNV to its portfolio by purchasing 33,756 company shares during the most recent quarter which is valued at $1,010,992. Synovus Financial Corp. makes up approx 0.16% of Princeton Alpha Management Lp’s portfolio.Greatmark Investment Partners reduced its stake in SNV by selling 1,697 shares or 4.2% in the most recent quarter. The Hedge Fund company now holds 38,707 shares of SNV which is valued at $1,206,110. Synovus Financial Corp. makes up approx 0.54% of Greatmark Investment Partners’s portfolio.

Synovus Financial Corp. closed down -0.64 points or -2.10% at $29.77 with 11,99,802 shares getting traded on Friday. Post opening the session at $30.36, the shares hit an intraday low of $29.69 and an intraday high of $30.8 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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. was Downgraded by Morgan Stanley to ” Underweight” on Feb 11, 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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