The Manufacturers Life Insurance Company reduced its position in shares of Synovus Financial Corp. (NYSE:SNV – Get the Badge) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,306,372 shares of the bank’s stock after selling 91,260 shares during the period. The Manufacturers Life Insurance Company owned 0.90% of Synovus Financial worth $49,002,000 as of its most recent filing with the Securities & Exchange Commission.
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A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNV. Barclays PLC raised its stake in Synovus Financial by 9.3% during the third quarter. Barclays PLC now owns 99,313 shares of the bank’s stock worth $3,726,000 after buying an additional 8,442 shares during the last quarter. Salzhauer Michael grew its stake in Synovus Financial by 35.6% during the 3rd quarter. Salzhauer Michael now owns 286,192 shares of the bank’s stock valued at $10,736,000 after purchasing from an additional 75,198 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Synovus Financial by 34.6% during the third quarter. Los Angeles Capital Management LLC now owns 198,741 shares of the bank’s stock worth $7,455,000 after buying an additional 51,034 shares in the last quarter . Victory Capital Management Inc. grew its holdings in shares of Synovus Financial by 6.8% during the third quarter. Now owned by Victory Capital Management Inc. 1,728,438 shares of the bank worth $64,833,000, after acquiring an additional 109,729 shares during this period. Finally, Oregon Public Employees Retirement Fund increased its stake in Synovus Financial by 1.5% in the third quarter. Oregon Public Retirement Fund now owns 42,388 shares of the bank’s stock worth $1,590,000 after acquiring an additional 620 shares during the period. Hedge funds and other institutional investors own 79.89% of the company’s stock.
The SNV has been the subject of many research reports. Morgan Stanley initiated coverage on shares of Synovus Financial in a research note on Monday, December 5th. They issued an “equal weight” rating and a $44.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Synovus Financial from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 13th. Wells Fargo & Company cut their price target on shares of Synovus Financial from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, October 21st. TheStreet raised shares of Synovus Financial from a “c+” rating to a “b” rating in a report on Friday, November 4th. At last, StockNews.com began coverage on shares of Synovus Financial in a report on Wednesday, October 12th. They set the “stop” target on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a target price of $47.40.
Insider Trading at Synovus Financial
In other news, EVP Allan E. Kamensky sold 663 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The shares traded at an average price of $43.80, for a total transaction of $29,039.40. Following the purchase, the executive vice president now owns 5,090 shares in the company, valued at $222,942. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this relationship. Insiders own 1.55% of the company’s stock.
Synovus Financial Stock Performance
SNV opens at $39.38 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.04. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 6.13 and a beta of 1.35. Synovus Financial Corp. it has a 52-week low of $34.15 and a 52-week high of $54.40. The company’s fifty day moving average is $39.20 and its two hundred day moving average is $39.59.
Synovus Financial (NYSE:SNV – Get the Badge) last announced its earnings results on Thursday, October 20th. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.06. The company had revenue of $582.22 million for the quarter, compared to the consensus estimate of $570.52 million. Synovus Financial has a dividend yield of 30.50% and a return on investment of 18.93%. During the same period last year, the company reported $1.20 earnings per share. Equities analysts expect that Synovus Financial Corp. will give 5.16 earnings per share for the current fiscal year.
Synovus Financial Announces Video
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th were issued a dividend of $0.34 per share. The distribution date of this dividend is Wednesday, December 14th. The dividend fee is $1.36 annually and yields 3.45%. Synovus Financial’s dividend yield is currently 27.47%.
Synovus Financial Statements
Synovus Financial Corp. a bank holding company engaged in the provision of financial services. The company operates in the following segments: Community Banking, Wholesale Banking, and Financial Management Services (FMS). The Community Banking business segment serves customers using a policy through its branch, ATM, commercial, and personal services in addition to mobile banking. ‘i, Internet, and mobile phone.
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