Hancock Holding Company Decreased Position in Synovus Financial Corp (SNV) by $4.39 Million

February 15, 2018 - By Michael Pereira

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 $2.36 billion US Long portfolio, upped its stake in Rpc Inc (NYSE:RES) by 373,218 shares to 445,839 shares, valued at $11.05 million in 2017Q3, according to the filing. It also increased its holding in Office Depot (NASDAQ:ODP) by 1.37M shares in the quarter, for a total of 2.04M shares, and has risen its stake in Tech Data Corp (NASDAQ:TECD).

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. As per Wednesday, January 24, the company rating was maintained by Bank of America. The stock of Synovus Financial Corp. (NYSE:SNV) has “Hold” rating given on Friday, August 25 by Robert W. Baird. As per Monday, January 8, the company rating was maintained by Jefferies. The stock of Synovus Financial Corp. (NYSE:SNV) has “Buy” rating given on Thursday, September 7 by RBC Capital Markets. The rating was initiated by JMP Securities on Thursday, February 2 with “Mkt Perform”. The rating was maintained by Robert W. Baird with “Hold” on Tuesday, January 2. Morgan Stanley downgraded the stock to “Underperform” rating in Thursday, February 11 report. Barclays Capital maintained Synovus Financial Corp. (NYSE:SNV) on Friday, October 9 with “Underweight” rating. On Tuesday, October 17 the stock rating was maintained by Keefe Bruyette & Woods with “Hold”. The firm earned “Hold” rating on Friday, September 15 by Jefferies.

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