Synovus Financial Corp. (NYSE:SNV) shares saw unusually-high trading volume on Thursday . Approximately 1,974,147 shares traded hands during mid-day trading, an increase of 52% from the previous session’s volume of 1,295,287 shares.The stock last traded at $28.26 and had previously closed at $27.82.

Several analysts recently commented on the stock. Zacks Investment Research cut shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. Compass Point raised their price target on shares of Synovus Financial Corp. from $29.50 to $30.00 and gave the stock a “buy” rating in a report on Monday, March 28th. Raymond James Financial Inc. cut shares of Synovus Financial Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 20th. They noted that the move was a valuation call. JPMorgan Chase & Co. decreased their price target on shares of Synovus Financial Corp. from $32.00 to $30.50 and set a “neutral” rating for the company in a report on Thursday. Finally, Hovde Group raised their price target on shares of Synovus Financial Corp. from $31.50 to $34.50 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Synovus Financial Corp. currently has an average rating of “Hold” and an average price target of $31.91.

The company’s 50-day moving average price is $30.29 and its 200-day moving average price is $29.66. The stock has a market cap of $3.55 billion and a P/E ratio of 17.33.

Synovus Financial Corp. (NYSE:SNV) last announced its quarterly earnings results on Tuesday, April 19th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. During the same quarter in the prior year, the company earned $0.38 earnings per share. On average, equities research analysts forecast that Synovus Financial Corp. will post $1.87 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Thursday, June 16th were paid a $0.12 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.70%.

In other news, EVP R Dallis Copeland, Jr. sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $30.10, for a total value of $240,800.00. Following the completion of the sale, the executive vice president now directly owns 55,029 shares of the company’s stock, valued at approximately $1,656,372.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Several hedge funds recently made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of Synovus Financial Corp. by 38.5% in the fourth quarter. Morgan Stanley now owns 132,987 shares of the company’s stock worth $4,306,000 after buying an additional 36,986 shares during the period. Monarch Partners Asset Management LLC raised its position in shares of Synovus Financial Corp. by 156.6% in the fourth quarter. Monarch Partners Asset Management LLC now owns 132,477 shares of the company’s stock valued at $4,290,000 after buying an additional 80,852 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Synovus Financial Corp. by 7.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 177,433 shares of the company’s stock valued at $5,745,000 after buying an additional 13,059 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its position in shares of Synovus Financial Corp. by 40.5% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 78,992 shares of the company’s stock valued at $2,558,000 after buying an additional 22,775 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Synovus Financial Corp. by 14.5% in the fourth quarter. California Public Employees Retirement System now owns 434,585 shares of the company’s stock valued at $14,072,000 after buying an additional 55,100 shares in the last quarter.

Synovus Financial Corp. (Synovus) is a financial services 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 28 locally branded banking divisions of its wholly owned subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.

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