Sit Investment Associates Inc. boosted its holdings in Synovus Financial Corp. (NYSE:SNV) by 100.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,562 shares of the bank’s stock after buying an additional 5,281 shares during the quarter. Sit Investment Associates Inc.’s holdings in Synovus Financial were worth $506,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SNV. Wells Fargo & Company MN grew its position in Synovus Financial by 134.6% in the second quarter. Wells Fargo & Company MN now owns 307,406 shares of the bank’s stock worth $13,599,000 after buying an additional 176,357 shares during the last quarter. Riverhead Capital Management LLC grew its position in Synovus Financial by 47.7% in the second quarter. Riverhead Capital Management LLC now owns 10,930 shares of the bank’s stock worth $483,000 after buying an additional 3,530 shares during the last quarter. Nationwide Fund Advisors grew its position in Synovus Financial by 0.6% in the second quarter. Nationwide Fund Advisors now owns 215,994 shares of the bank’s stock worth $9,556,000 after buying an additional 1,381 shares during the last quarter. BlackRock Inc. grew its position in Synovus Financial by 3.6% in the second quarter. BlackRock Inc. now owns 10,607,093 shares of the bank’s stock worth $469,257,000 after buying an additional 370,743 shares during the last quarter. Finally, Amalgamated Bank grew its position in Synovus Financial by 20.7% in the second quarter. Amalgamated Bank now owns 23,762 shares of the bank’s stock worth $1,051,000 after buying an additional 4,072 shares during the last quarter. Hedge funds and other institutional investors own 77.33% of the company’s stock.

Synovus Financial Corp. (NYSE:SNV) opened at $50.96 on Tuesday. Synovus Financial Corp. has a 52-week low of $37.95 and a 52-week high of $51.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $6,090.00, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.90 and a beta of 1.13.

Synovus Financial (NYSE:SNV) last posted its quarterly earnings data on Tuesday, October 17th. The bank reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. Synovus Financial had a net margin of 21.39% and a return on equity of 10.44%. The firm had revenue of $398.01 million for the quarter, compared to analysts’ expectations of $331.27 million. During the same period in the previous year, the company posted $0.65 EPS. equities analysts anticipate that Synovus Financial Corp. will post 2.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Thursday, December 21st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Wednesday, December 20th. Synovus Financial’s dividend payout ratio is currently 24.19%.

In other news, Director Philip W. Tomlinson sold 1,052 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $48.82, for a total transaction of $51,358.64. Following the transaction, the director now directly owns 27,139 shares in the company, valued at approximately $1,324,925.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP R Dallis Copeland, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $46.29, for a total transaction of $462,900.00. Following the transaction, the executive vice president now owns 43,488 shares in the company, valued at $2,013,059.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,177 shares of company stock worth $614,367. 1.50% of the stock is currently owned by corporate insiders.

Several research analysts have issued reports on SNV shares. Zacks Investment Research upgraded shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, September 19th. Jefferies Group restated a “hold” rating and issued a $50.00 price target on shares of Synovus Financial in a research report on Thursday, October 12th. SunTrust Banks reiterated a “buy” rating and set a $51.00 price objective on shares of Synovus Financial in a research report on Thursday, October 12th. Barclays set a $49.00 price objective on shares of Synovus Financial and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $48.00 price objective on shares of Synovus Financial in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Synovus Financial presently has an average rating of “Hold” and a consensus target price of $47.30.

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Synovus Financial 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 (NYSE:SNV)

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