Synovus Financial Corp (SNV) Market Valuation Declined While Hancock Holding Company Cut Position by $4.39 Million

February 15, 2018 - By Vivian Park

Hancock Holding Company decreased its stake in Synovus Financial Corp (SNV) by 14.01% based on its latest 2017Q3 regulatory filing with the SEC. Hancock Holding Company sold 95,491 shares as the company’s stock declined 2.76% while stock markets rallied. The institutional investor held 586,210 shares of the major banks company at the end of 2017Q3, valued at $27.00M, down from 681,701 at the end of the previous reported quarter. Hancock Holding Company who had been investing in Synovus Financial Corp for a number of months, seems to be less bullish one the $6.00B market cap company. The stock increased 0.38% or $0.19 during the last trading session, reaching $50.44. About 429,087 shares traded. Synovus Financial Corp. (NYSE:SNV) has risen 33.10% since February 15, 2017 and is uptrending. It has outperformed by 16.40% the S&P500.

Hancock Holding Company, which manages about $2.36B US Long portfolio, upped its stake in Home Depot Inc (NYSE:HD) by 79,743 shares to 85,583 shares, valued at $14.00M in 2017Q3, according to the filing. It also increased its holding in Rpc Inc (NYSE:RES) by 373,218 shares in the quarter, for a total of 445,839 shares, and has risen its stake in Microchip Tech (NASDAQ:MCHP).

More news for Synovus Financial Corp. (NYSE:SNV) were recently published by: Streetinsider.com, which released: “Form 4 SYNOVUS FINANCIAL CORP For: Feb 12 Filed by: TOMLINSON PHILIP W” on February 14, 2018. Timesfreepress.com‘s article titled: “Synovus boosts dividend after reporting higher adjusted profits” and published on January 23, 2018 is yet another important article.

Synovus Financial Corp. (NYSE:SNV) Ratings Coverage

Among 19 analysts covering Synovus Financial Corp. (NYSE:SNV), 8 have Buy rating, 1 Sell and 10 Hold. Therefore 42% are positive. Synovus Financial Corp. had 56 analyst reports since July 22, 2015 according to SRatingsIntel. On Tuesday, August 15 the stock rating was maintained by Stephens with “Buy”. The stock of Synovus Financial Corp. (NYSE:SNV) earned “Market Perform” rating by Wells Fargo on Monday, January 9. The stock of Synovus Financial Corp. (NYSE:SNV) has “Buy” rating given on Tuesday, September 1 by SunTrust. The stock of Synovus Financial Corp. (NYSE:SNV) has “Underperform” rating given on Tuesday, August 23 by Wells Fargo. The rating was upgraded by Barclays Capital to “Equal Weight” on Tuesday, December 6. The firm has “Underperform” rating by Morgan Stanley given on Thursday, February 11. The stock has “Buy” rating by SunTrust on Tuesday, January 23. The stock has “Buy” rating by Stephens on Wednesday, July 19. Jefferies maintained Synovus Financial Corp. (NYSE:SNV) rating on Friday, September 15. Jefferies has “Hold” rating and $47.0 target. As per Friday, November 18, the company rating was downgraded by Compass Point.

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