TNB Financial bought a new stake in Synovus Financial Corp. (NYSE:SNV) during the first quarter, Holdings Channel reports. The firm bought 6,561 shares of the company’s stock, valued at approximately $269,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. LS Investment Advisors LLC raised its position in shares of Synovus Financial Corp. by 5.1% in the third quarter. LS Investment Advisors LLC now owns 7,927 shares of the company’s stock valued at $258,000 after buying an additional 383 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Synovus Financial Corp. by 3.2% in the third quarter. BlackRock Fund Advisors now owns 4,680,736 shares of the company’s stock valued at $152,264,000 after buying an additional 144,953 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of Synovus Financial Corp. by 0.3% in the third quarter. BlackRock Advisors LLC now owns 69,679 shares of the company’s stock valued at $2,267,000 after buying an additional 184 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its position in shares of Synovus Financial Corp. by 87.5% in the third quarter. Signature Estate & Investment Advisors LLC now owns 9,742 shares of the company’s stock valued at $317,000 after buying an additional 4,546 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Synovus Financial Corp. by 471.7% in the third quarter. UBS Asset Management Americas Inc. now owns 539,805 shares of the company’s stock valued at $17,559,000 after buying an additional 445,392 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.
Synovus Financial Corp. (NYSE:SNV) traded down 1.40% during mid-day trading on Thursday, reaching $39.42. The company’s stock had a trading volume of 218,070 shares. The company has a 50 day moving average of $41.40 and a 200-day moving average of $39.04. The stock has a market cap of $4.82 billion, a PE ratio of 20.86 and a beta of 1.25. Synovus Financial Corp. has a 52-week low of $26.90 and a 52-week high of $44.09.
Synovus Financial Corp. (NYSE:SNV) last issued its quarterly earnings results on Tuesday, January 17th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $301.70 million for the quarter, compared to analyst estimates of $300.21 million. Synovus Financial Corp. had a return on equity of 8.94% and a net margin of 19.04%. During the same period in the previous year, the company posted $0.44 earnings per share. Equities analysts forecast that Synovus Financial Corp. will post $2.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Thursday, March 16th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.50%. This is a positive change from Synovus Financial Corp.’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, March 14th. Synovus Financial Corp.’s payout ratio is 25.26%.
COPYRIGHT VIOLATION WARNING: This news story was originally posted by sleekmoney and is the sole property of of sleekmoney. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://sleekmoney.com/6561-shares-in-synovus-financial-corp-snv-acquired-by-tnb-financial/1739141.html.
Several research analysts have weighed in on the company. Evercore ISI lowered Synovus Financial Corp. to a “buy” rating in a research report on Friday, March 3rd. Wells Fargo & Co raised Synovus Financial Corp. from an “underperform” rating to a “market perform” rating in a report on Monday, January 9th. Hovde Group lowered Synovus Financial Corp. from an “outperform” rating to a “market perform” rating and set a $44.00 price objective on the stock. in a report on Monday, January 9th. JMP Securities started coverage on Synovus Financial Corp. in a report on Thursday, February 2nd. They set a “market perform” rating on the stock. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Synovus Financial Corp. in a report on Wednesday, December 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. Synovus Financial Corp. currently has an average rating of “Hold” and a consensus price target of $40.07.
In other news, COO Allen J. Gula sold 2,450 shares of the business’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $41.76, for a total value of $102,312.00. Following the sale, the chief operating officer now directly owns 69,943 shares in the company, valued at $2,920,819.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Allan E. Kamensky purchased 1,110 shares of the business’s stock in a transaction dated Monday, February 13th. The stock was purchased at an average price of $42.20 per share, for a total transaction of $46,842.00. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
Synovus Financial Corp. Company Profile
Synovus Financial Corp. is a financial services company and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services, to its customers through locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.
Want to see what other hedge funds are holding SNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synovus Financial Corp. (NYSE:SNV).
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/6561-shares-in-synovus-financial-corp-snv-acquired-by-tnb-financial/1739141.html
Receive News & Ratings for Synovus Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial Corp. and related companies with MarketBeat.com's FREE daily email newsletter.