Dynamic Technology Lab Private Ltd bought a new stake in Synovus Financial Corp. (NYSE:SNV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,291 shares of the bank’s stock, valued at approximately $278,000.

A number of other institutional investors have also added to or reduced their stakes in SNV. UBS Asset Management Americas Inc. lifted its holdings in Synovus Financial Corp. by 16.5% in the first quarter. UBS Asset Management Americas Inc. now owns 75,968 shares of the bank’s stock valued at $3,116,000 after acquiring an additional 10,737 shares during the period. OppenheimerFunds Inc. lifted its holdings in Synovus Financial Corp. by 34.9% in the first quarter. OppenheimerFunds Inc. now owns 7,726 shares of the bank’s stock valued at $317,000 after acquiring an additional 1,998 shares during the period. PNC Financial Services Group Inc. lifted its holdings 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 valued at $145,000 after acquiring an additional 622 shares during the period. New York State Teachers Retirement System lifted its holdings in Synovus Financial Corp. by 12.1% in the first quarter. New York State Teachers Retirement System now owns 38,900 shares of the bank’s stock valued at $1,596,000 after acquiring an additional 4,200 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Synovus Financial Corp. by 9.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 625,784 shares of the bank’s stock valued at $25,670,000 after acquiring an additional 52,513 shares during the period. 79.14% of the stock is owned by institutional investors.

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A number of equities research analysts have commented on SNV shares. Jefferies Group LLC reissued a “hold” rating and issued a $50.00 target price on shares of Synovus Financial Corp. in a report on Thursday, October 12th. ValuEngine downgraded Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Zacks Investment Research raised Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, July 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $48.00 price target on shares of Synovus Financial Corp. in a research note on Thursday, October 19th. Finally, Stephens reaffirmed a “buy” rating and set a $46.00 price target on shares of Synovus Financial Corp. in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Synovus Financial Corp. presently has a consensus rating of “Hold” and an average price target of $45.09.

In related news, COO Allen J. Gula sold 2,125 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $47.11, for a total transaction of $100,108.75. Following the transaction, the chief operating officer now directly owns 72,561 shares of the company’s stock, valued at $3,418,348.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP R Dallis Copeland, Jr. sold 10,000 shares of the company’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $46.29, for a total value of $462,900.00. Following the transaction, the executive vice president now directly owns 43,488 shares in the company, valued at $2,013,059.52. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Shares of Synovus Financial Corp. (SNV) opened at 46.74 on Tuesday. Synovus Financial Corp. has a 52-week low of $32.21 and a 52-week high of $47.67. The stock has a market cap of $5.59 billion, a PE ratio of 18.92 and a beta of 1.10. The company’s 50-day moving average price is $45.57 and its 200-day moving average price is $43.45.

Synovus Financial Corp. (NYSE:SNV) last posted its quarterly earnings results on Tuesday, October 17th. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $398.01 million for the quarter, compared to analyst estimates of $331.27 million. Synovus Financial Corp. had a return on equity of 10.44% and a net margin of 21.39%. During the same period in the previous year, the firm earned $0.65 earnings per share. Analysts expect that Synovus Financial Corp. will post $2.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 21st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date was Wednesday, September 20th. Synovus Financial Corp.’s payout ratio is 24.19%.

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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