Nicholas Investment Partners LP Increases Holding in Synovus Finl Corp (SNV)

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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 $15.01M, 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 $4.06B market cap company. The stock increased 0.35% or $0.12 during the last trading session, reaching $34.9. About 3.33M 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 $1.37B and $1.42B US Long portfolio, decreased its stake in Rapid7 Inc by 215,366 shares to 125,749 shares, valued at $3.55 million in 2018Q2, according to the filing. It also reduced its holding in Blackline Inc by 85,929 shares in the quarter, leaving it with 60,791 shares, and cut its stake in Guidewire Software Inc (NYSE:GWRE).

More notable recent Synovus Financial Corp. (NYSE:SNV) news were published by: Bizjournals.com which released: “Ex-Synovus banker pleads guilty to stealing $1M from clients – Atlanta Business Chronicle” on November 29, 2018, also Seekingalpha.com with their article: “FCB drops after agreeing to be bought by Synovus for $2.9B in stock – Seeking Alpha” published on July 24, 2018, Seekingalpha.com published: “Synovus Financial: This 6.30% Fixed-To-Floating Preferred Stock Has Begun Trading On The NYSE – Seeking Alpha” on June 28, 2018. More interesting news about Synovus Financial Corp. (NYSE:SNV) were released by: Fool.com and their article: “Small-Cap Banks, Amazon Pay, and More – The Motley Fool” published on November 27, 2018 as well as Seekingalpha.com‘s news article titled: “Analysts May Not Like This Bank Holding Company, But I Do – Seeking Alpha” with publication date: August 23, 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. Barclays Capital maintained Synovus Financial Corp. (NYSE:SNV) on Wednesday, October 3 with “Equal-Weight” rating. The stock has “Equal-Weight” rating by Barclays Capital on Wednesday, October 24. The stock of Synovus Financial Corp. (NYSE:SNV) has “Outperform” rating given on Friday, November 9 by Wood. The stock of Synovus Financial Corp. (NYSE:SNV) has “Equal-Weight” rating given on Tuesday, September 18 by Morgan Stanley. On Tuesday, July 24 the stock rating was downgraded by Stephens to “Equal-Weight”. The firm earned “Equal-Weight” rating on Tuesday, July 31 by Morgan Stanley. The rating was upgraded by Morgan Stanley to “Overweight” on Monday, November 12. The stock of Synovus Financial Corp. (NYSE:SNV) has “Hold” rating given on Friday, November 23 by Piper Jaffray.

Synovus Financial Corp. (NYSE:SNV) Ratings Chart

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