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 5.6% during the most recent quarter end. The investment management company now holds a total of 79,160 shares of Synovus Financial Corp. which is valued at $2,434,962 after selling 4,697 shares in Synovus Financial Corp. , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Synovus Financial Corp. makes up approximately 2.78% of Sippican Capital Advisors’s portfolio.

Other Hedge Funds, Including , Rs Investment Management Co reduced its stake in SNV by selling 141,030 shares or 9.01% in the most recent quarter. The Hedge Fund company now holds 1,423,442 shares of SNV which is valued at $43,785,076. Synovus Financial Corp. makes up approx 0.43% of Rs Investment Management Co’s portfolio. Financial Architects Inc added SNV to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $15,380.Ls Investment Advisors boosted its stake in SNV in the latest quarter, The investment management firm added 3,151 additional shares and now holds a total of 7,544 shares of Synovus Financial Corp. which is valued at $233,034. Synovus Financial Corp. makes up approx 0.02% of Ls Investment Advisors’s portfolio. Cibc World Markets added SNV to its portfolio by purchasing 88,627 company shares during the most recent quarter which is valued at $2,737,688. Synovus Financial Corp. makes up approx 0.01% of Cibc World Markets’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in SNV in the latest quarter, The investment management firm added 43,692 additional shares and now holds a total of 62,043 shares of Synovus Financial Corp. which is valued at $1,771,948. Synovus Financial Corp. makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Synovus Financial Corp. closed down -0.25 points or -0.81% at $30.44 with 6,23,891 shares getting traded on Friday. Post opening the session at $30.59, the shares hit an intraday low of $30.42 and an intraday high of $30.74 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 $0.49 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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