Kinsight adds Synovus Financial Corp. (SNV) to its portfolio

Synovus Financial Corp. (SNV) : Kinsight added new position in Synovus Financial Corp. during the most recent quarter end. The investment management firm now holds 20,912 shares of Synovus Financial Corp. which is valued at $663,329 , the company said in a statement filed on Aug 9, 2016 with the SEC.Synovus Financial Corp. makes up approximately 0.35% of Kinsight’s portfolio.

Other Hedge Funds, Including , Acrospire Investment Management reduced its stake in SNV by selling 1,800 shares or 55.5% in the most recent quarter. The Hedge Fund company now holds 1,443 shares of SNV which is valued at $45,772. Synovus Financial Corp. makes up approx 0.03% of Acrospire Investment Management’s portfolio.First Trust Advisors Lp boosted its stake in SNV in the latest quarter, The investment management firm added 32,124 additional shares and now holds a total of 116,740 shares of Synovus Financial Corp. which is valued at $3,714,667. Synovus Financial Corp. makes up approx 0.01% of First Trust Advisors Lp’s portfolio.

Synovus Financial Corp. opened for trading at $31.63 and hit $32.03 on the upside on Wednesday, eventually ending the session at $31.92, with a gain of 0.60% or 0.19 points. The heightened volatility saw the trading volume jump to 8,44,494 shares. Company has a market cap of $3,924 M.

On the company’s financial health, Synovus Financial Corp. reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.47. The company had revenue of $289.30 million for the quarter, compared to analysts expectations of $288.32 million. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.

Many Wall Street Analysts have commented on Synovus Financial Corp.. Synovus Financial Corp. was Downgraded by BofA/Merrill to ” Neutral” on Jun 29, 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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