Two Sigma Securities LLC Invests $216,000 in Synovus Financial Corp. (SNV)

Two Sigma Securities LLC acquired a new stake in shares of Synovus Financial Corp. (NYSE:SNV) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,269 shares of the bank’s stock, valued at approximately $216,000.

Several other institutional investors also recently made changes to their positions in SNV. Advisory Services Network LLC bought a new position in shares of Synovus Financial Corp. during the first quarter valued at about $120,000. Balentine LLC boosted its position in shares of Synovus Financial Corp. by 0.3% in the first quarter. Balentine LLC now owns 3,108 shares of the bank’s stock valued at $128,000 after buying an additional 9 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Synovus Financial Corp. by 10.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,232 shares of the bank’s stock valued at $132,000 after buying an additional 297 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Synovus Financial Corp. during the first quarter valued at about $135,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Synovus Financial Corp. by 21.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the bank’s stock valued at $145,000 after buying an additional 622 shares during the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.

Shares of Synovus Financial Corp. (NYSE:SNV) opened at 42.62 on Tuesday. The company’s 50-day moving average price is $42.20 and its 200 day moving average price is $41.68. The stock has a market cap of $5.21 billion, a PE ratio of 20.67 and a beta of 1.13. Synovus Financial Corp. has a 1-year low of $26.90 and a 1-year high of $44.44.

Synovus Financial Corp. (NYSE:SNV) last released its earnings results on Tuesday, April 18th. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Synovus Financial Corp. had a return on equity of 9.50% and a net margin of 20.04%. The company had revenue of $311.77 million for the quarter, compared to the consensus estimate of $303.05 million. During the same quarter last year, the business posted $0.43 EPS. Synovus Financial Corp.’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts forecast that Synovus Financial Corp. will post $2.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, June 13th. Synovus Financial Corp.’s dividend payout ratio is presently 28.99%.

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Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $39.00 price objective on shares of Synovus Financial Corp. in a research note on Monday, April 3rd. ValuEngine upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Jefferies Group LLC reiterated a “hold” rating and issued a $47.00 price objective on shares of Synovus Financial Corp. in a research note on Wednesday, April 5th. Zacks Investment Research upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Thursday, April 20th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $44.00 price objective (up previously from $42.00) on shares of Synovus Financial Corp. in a research note on Saturday, April 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $38.81.

In other Synovus Financial Corp. news, EVP Jeffrey Barton Singleton sold 10,500 shares of the stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $41.96, for a total transaction of $440,580.00. Following the transaction, the executive vice president now owns 58,781 shares of the company’s stock, valued at approximately $2,466,450.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP D Wayne Akins, Jr. sold 3,500 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $42.96, for a total value of $150,360.00. Following the transaction, the executive vice president now directly owns 34,994 shares in the company, valued at approximately $1,503,342.24. The disclosure for this sale can be found here. Company insiders own 1.50% 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.

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Institutional Ownership by Quarter for Synovus Financial Corp. (NYSE:SNV)

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