Shares of Synovus Financial Corp. (NYSE:SNV) saw unusually-strong trading volume on Thursday . Approximately 1,974,147 shares were traded 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.

A number of equities research analysts have issued reports on SNV shares. Compass Point raised their target price on Synovus Financial Corp. from $29.50 to $30.00 and gave the company a “buy” rating in a research note on Monday, March 28th. Hovde Group raised their target price on Synovus Financial Corp. from $31.50 to $34.50 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. Raymond James Financial Inc. cut Synovus Financial Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 20th. They noted that the move was a valuation call. Zacks Investment Research upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Friday, June 24th. Finally, Bank of America Corp. cut Synovus Financial Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $31.91.

The firm has a market cap of $3.58 billion and a PE ratio of 17.51. The company has a 50 day moving average of $30.22 and a 200 day moving average of $29.63.

Synovus Financial Corp. (NYSE:SNV) last announced its quarterly earnings results on Tuesday, April 19th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. During the same quarter in the previous year, the company posted $0.38 earnings per share. On average, equities analysts anticipate 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. Shareholders of record on Thursday, June 16th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Tuesday, June 14th.

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

Other hedge funds have made changes to their positions in the company. WBI Investments Inc. boosted its stake in shares of Synovus Financial Corp. by 354.1% in the fourth quarter. WBI Investments Inc. now owns 506,199 shares of the company’s stock valued at $16,391,000 after buying an additional 394,718 shares during the last quarter. UBS Oconnor LLC acquired a new stake in shares of Synovus Financial Corp. during the fourth quarter valued at approximately $2,428,000. EJF Capital LLC boosted its stake in shares of Synovus Financial Corp. by 17.6% in the fourth quarter. EJF Capital LLC now owns 1,800,002 shares of the company’s stock valued at $58,284,000 after buying an additional 270,000 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Synovus Financial Corp. by 8.9% in the fourth quarter. Victory Capital Management Inc. now owns 2,740,354 shares of the company’s stock valued at $88,732,000 after buying an additional 223,260 shares during the last quarter. Finally, Monarch Partners Asset Management LLC boosted its stake 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 during 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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