First Trust Advisors LP raised its position in shares of Synovus Financial Corp. (NYSE:SNV) by 758.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 109,988 shares of the bank’s stock after buying an additional 97,179 shares during the period. First Trust Advisors LP owned 0.09% of Synovus Financial Corp. worth $4,866,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in Synovus Financial Corp. during the first quarter worth approximately $120,000. Balentine LLC boosted its stake 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 during the period. Meeder Asset Management Inc. acquired a new stake in Synovus Financial Corp. during the first quarter worth approximately $135,000. PNC Financial Services Group Inc. boosted its stake 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 during the period. Finally, Neuburgh Advisers LLC boosted its stake in Synovus Financial Corp. by 14.0% in the first quarter. Neuburgh Advisers LLC now owns 4,704 shares of the bank’s stock worth $193,000 after buying an additional 576 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Shares of Synovus Financial Corp. (NYSE SNV) opened at 42.41 on Friday. The firm has a market capitalization of $5.15 billion, a PE ratio of 19.26 and a beta of 1.12. Synovus Financial Corp. has a 12-month low of $31.41 and a 12-month high of $45.38. The company has a 50-day moving average price of $43.03 and a 200 day moving average price of $42.38.

Synovus Financial Corp. (NYSE:SNV) last issued its earnings results on Tuesday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $319.80 million during the quarter, compared to analysts’ expectations of $317.81 million. During the same period last year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts expect that Synovus Financial Corp. will post $2.46 earnings per share for the current year.

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A number of equities research analysts have recently commented on SNV shares. Stephens restated a “buy” rating and set a $46.00 target price on shares of Synovus Financial Corp. in a research report on Wednesday, July 19th. Zacks Investment Research upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, July 19th. ValuEngine upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Bank of America Corporation upgraded Synovus Financial Corp. from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Thursday, May 11th. Finally, Barclays PLC restated an “equal weight” rating and set a $46.00 target price (up from $44.00) on shares of Synovus Financial Corp. in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.50.

In other Synovus Financial Corp. news, EVP Kevin Joseph Howard sold 7,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 46,490 shares of the company’s stock, valued at $2,016,271.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Curtis J. Perry sold 7,062 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 60,038 shares of the company’s stock, valued at $2,633,266.68. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

About Synovus Financial Corp.

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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