Caxton Associates LP Upped Synovus Finl Corp (SNV) Holding by $3.50 Million

Synovus Financial Corp. (NYSE:SNV) Logo

Caxton Associates Lp increased its stake in Synovus Finl Corp (SNV) by 80% based on its latest 2019Q2 regulatory filing with the SEC. Caxton Associates Lp bought 100,000 shares as the company’s stock rose 5.53% . The hedge fund held 225,000 shares of the major banks company at the end of 2019Q2, valued at $7.89M, up from 125,000 at the end of the previous reported quarter. Caxton Associates Lp who had been investing in Synovus Finl Corp for a number of months, seems to be bullish on the $5.88 billion market cap company. The stock increased 1.49% or $0.56 during the last trading session, reaching $38.12. About 971,256 shares traded. Synovus Financial Corp. (NYSE:SNV) has declined 23.23% since September 13, 2018 and is downtrending. It has underperformed by 23.23% the S&P500.

Caxton Associates Lp, which manages about $10.75B and $831.13M US Long portfolio, decreased its stake in Voya Finl Inc (NYSE:VOYA) by 193,812 shares to 6,188 shares, valued at $342,000 in 2019Q2, according to the filing. It also reduced its holding in Comcast Corp New (NASDAQ:CMCSA) by 124,612 shares in the quarter, leaving it with 75,388 shares, and cut its stake in Lincoln Natl Corp Ind (NYSE:LNC).

More notable recent Synovus Financial Corp. (NYSE:SNV) news were published by: Bizjournals.com which released: “Bryant Bank expands Mobile footprint with former Synovus bankers – Birmingham Business Journal” on July 30, 2019, also Finance.Yahoo.com with their article: “Have Insiders Been Buying Synovus Financial Corp. (NYSE:SNV) Shares? – Yahoo Finance” published on July 19, 2019, Finance.Yahoo.com published: “Arnold Schneider Buys 4 Stocks in 2nd Quarter – Yahoo Finance” on August 23, 2019. More interesting news about Synovus Financial Corp. (NYSE:SNV) were released by: Seekingalpha.com and their article: “Synovus +2.8% after Evercore ISI turns bullish – Seeking Alpha” published on August 08, 2019 as well as Bizjournals.com‘s news article titled: “Regions Bank executive named CFO at Synovus – Birmingham Business Journal” with publication date: June 03, 2019.

Synovus Financial Corp. (NYSE:SNV) Ratings Coverage

Among 5 analysts covering Synovus Financial (NYSE:SNV), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Synovus Financial has $4200 highest and $40 lowest target. $41.20’s average target is 8.08% above currents $38.12 stock price. Synovus Financial had 6 analyst reports since April 4, 2019 according to SRatingsIntel. The rating was maintained by Raymond James with “Strong Buy” on Tuesday, June 18. The rating was maintained by SunTrust on Tuesday, August 27 with “Buy”. The stock has “Hold” rating by Stephens on Thursday, June 20.

Synovus Financial Corp. (NYSE:SNV) Ratings Chart

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