M&T Bank Corp Purchases 91 Shares of Synovus Financial Corp. (SNV)

M&T Bank Corp raised its position in Synovus Financial Corp. (NYSE:SNV) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,288 shares of the bank’s stock after buying an additional 91 shares during the period. M&T Bank Corp’s holdings in Synovus Financial Corp. were worth $322,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Synovus Financial Corp. by 3.6% in the 2nd quarter. BlackRock Inc. now owns 10,607,093 shares of the bank’s stock worth $469,257,000 after purchasing an additional 370,743 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Synovus Financial Corp. by 3.7% in the first quarter. Vanguard Group Inc. now owns 10,598,706 shares of the bank’s stock valued at $434,759,000 after acquiring an additional 375,030 shares during the last quarter. Synovus Financial Corp increased its position in shares of Synovus Financial Corp. by 0.7% in the second quarter. Synovus Financial Corp now owns 5,997,976 shares of the bank’s stock valued at $265,347,000 after acquiring an additional 43,034 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Synovus Financial Corp. by 0.4% in the second quarter. Eagle Asset Management Inc. now owns 2,690,133 shares of the bank’s stock valued at $119,011,000 after acquiring an additional 10,163 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Synovus Financial Corp. by 2.2% in the second quarter. Alliancebernstein L.P. now owns 2,311,113 shares of the bank’s stock valued at $102,244,000 after acquiring an additional 49,041 shares during the last quarter. Hedge funds and other institutional investors own 77.87% of the company’s stock.

WARNING: “M&T Bank Corp Purchases 91 Shares of Synovus Financial Corp. (SNV)” was published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://www.com-unik.info/2017/10/12/mt-bank-corp-purchases-91-shares-of-synovus-financial-corp-snv.html.

A number of research firms recently commented on SNV. ValuEngine upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Barclays PLC reiterated an “equal weight” rating and set a $46.00 price target (up from $44.00) on shares of Synovus Financial Corp. in a report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Jefferies Group LLC restated a “hold” rating and issued a $47.00 target price on shares of Synovus Financial Corp. in a report on Friday, July 14th. Finally, BidaskClub lowered shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.60.

In related news, EVP Kevin Joseph Howard sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $43.37, for a total transaction of $303,590.00. Following the sale, the executive vice president now directly owns 46,490 shares in the company, valued at $2,016,271.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Curtis J. Perry sold 7,062 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $43.86, for a total transaction of $309,739.32. Following 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 corporate insiders.

Synovus Financial Corp. (NYSE:SNV) opened at 47.11 on Thursday. The firm’s 50-day moving average is $43.81 and its 200 day moving average is $42.83. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 21.39 and a beta of 1.10. Synovus Financial Corp. has a 52-week low of $31.41 and a 52-week high of $47.32.

Synovus Financial Corp. (NYSE:SNV) last posted its earnings results on Tuesday, July 18th. The bank reported $0.60 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 for the quarter, compared to analysts’ expectations of $317.81 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. Synovus Financial Corp.’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that Synovus Financial Corp. will post $2.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Thursday, September 21st were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. Synovus Financial Corp.’s dividend payout ratio (DPR) is presently 27.15%.

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)

What are top analysts saying about Synovus Financial Corp.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Synovus Financial Corp. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit