Washington Capital Management Inc. maintained its position in Synovus Financial Corp. (NYSE:SNV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,000 shares of the bank’s stock at the end of the second quarter. Washington Capital Management Inc.’s holdings in Synovus Financial Corp. were worth $398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Advisory Services Network LLC bought a new position in Synovus Financial Corp. during the first quarter worth approximately $120,000. Balentine LLC raised its position in Synovus Financial Corp. by 0.3% in the first quarter. Balentine LLC now owns 3,108 shares of the bank’s stock worth $128,000 after buying an additional 9 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Synovus Financial Corp. by 10.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,232 shares of the bank’s stock worth $132,000 after buying an additional 297 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Synovus Financial Corp. during the first quarter worth approximately $135,000. Finally, PNC Financial Services Group Inc. raised its position in 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 worth $145,000 after buying an additional 622 shares in the last quarter. Institutional investors and hedge funds own 78.35% of the company’s stock.

Synovus Financial Corp. (SNV) traded down 0.71% during trading on Friday, reaching $42.10. 603,978 shares of the company were exchanged. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 19.12 and a beta of 1.12. The firm has a 50-day moving average of $43.87 and a 200-day moving average of $42.35. Synovus Financial Corp. has a 52-week low of $31.24 and a 52-week high of $45.38.

Synovus Financial Corp. (NYSE:SNV) last released its earnings results on Tuesday, July 18th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. Synovus Financial Corp. had a net margin of 20.68% and a return on equity of 9.88%. The firm had revenue of $319.80 million for the quarter, compared to analyst estimates of $317.81 million. During the same period last year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts forecast that Synovus Financial Corp. will post $2.46 EPS for the current year.

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A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub lowered shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. ValuEngine upgraded shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Barclays PLC restated an “equal weight” rating and issued a $46.00 price target (up previously from $44.00) on shares of Synovus Financial Corp. in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $43.00 price target on shares of Synovus Financial Corp. in a research report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $42.78.

In other Synovus Financial Corp. news, EVP Kevin Joseph Howard sold 7,000 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $43.37, for a total value of $303,590.00. Following the transaction, the executive vice president now directly owns 46,490 shares of the company’s stock, valued at approximately $2,016,271.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Curtis J. Perry sold 7,062 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $43.86, for a total transaction of $309,739.32. Following the completion of the sale, the executive vice president now owns 60,038 shares in the company, valued at $2,633,266.68. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

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.

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

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