Synovus Finl Corp (SNV) Share Value Declined While Nicholas Investment Partners LP Raised Position

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Nicholas Investment Partners Lp increased its stake in Synovus Finl Corp (SNV) by 30.88% based on its latest 2018Q2 regulatory filing with the SEC. Nicholas Investment Partners Lp bought 67,021 shares as the company’s stock declined 13.96% while stock markets rallied. The institutional investor held 284,029 shares of the major banks company at the end of 2018Q2, valued at $15.01 million, up from 217,008 at the end of the previous reported quarter. Nicholas Investment Partners Lp who had been investing in Synovus Finl Corp for a number of months, seems to be bullish on the $4.06 billion market cap company. The stock increased 0.35% or $0.12 during the last trading session, reaching $34.9. About 3.33 million shares traded or 76.33% up from the average. Synovus Financial Corp. (NYSE:SNV) has risen 11.73% since December 8, 2017 and is uptrending. It has underperformed by 3.89% the S&P500.

Nicholas Investment Partners Lp, which manages about $1.37 billion and $1.42 billion US Long portfolio, decreased its stake in Everbridge Inc by 141,322 shares to 234,764 shares, valued at $11.13M in 2018Q2, according to the filing. It also reduced its holding in Illumina Inc (Prn) by 3.43M shares in the quarter, leaving it with 1.92 million shares, and cut its stake in Quidel Corp (Prn).

More notable recent Synovus Financial Corp. (NYSE:SNV) news were published by: Benzinga.com which released: “Benzinga’s Top Upgrades, Downgrades For November 12, 2018 – Benzinga” on November 12, 2018, also Fool.com with their article: “4 Small-Cap Bank Stocks That Should Be on Your Radar – Motley Fool” published on November 28, 2018, Fool.com published: “Small-Cap Banks, Amazon Pay, and More – The Motley Fool” on November 27, 2018. More interesting news about Synovus Financial Corp. (NYSE:SNV) were released by: Seekingalpha.com and their article: “Analysts May Not Like This Bank Holding Company, But I Do – Seeking Alpha” published on August 23, 2018 as well as Businesswire.com‘s news article titled: “Zack Bishop to Join Synovus as EVP of Technology and Operations – Business Wire” with publication date: November 26, 2018.

Synovus Financial Corp. (NYSE:SNV) Ratings Coverage

Among 5 analysts covering Synovus Financial (NYSE:SNV), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. Synovus Financial had 8 analyst reports since July 24, 2018 according to SRatingsIntel. The stock has “Equal-Weight” rating by Morgan Stanley on Tuesday, July 31. Barclays Capital maintained the shares of SNV in report on Wednesday, October 24 with “Equal-Weight” rating. Morgan Stanley upgraded Synovus Financial Corp. (NYSE:SNV) rating on Monday, November 12. Morgan Stanley has “Overweight” rating and $50 target. The stock of Synovus Financial Corp. (NYSE:SNV) earned “Equal-Weight” rating by Stephens on Tuesday, July 24. Barclays Capital maintained the stock with “Equal-Weight” rating in Wednesday, October 3 report. The firm has “Outperform” rating given on Friday, November 9 by Wood. The firm has “Equal-Weight” rating given on Tuesday, September 18 by Morgan Stanley. Piper Jaffray maintained the stock with “Hold” rating in Friday, November 23 report.

Synovus Financial Corp. (NYSE:SNV) Ratings Chart

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