Sei Investments Co. raised its position in Synovus Financial Corp. (NYSE:SNV) by 5.7% during the second quarter, Holdings Channel reports. The fund owned 204,582 shares of the bank’s stock after buying an additional 11,066 shares during the period. Sei Investments Co.’s holdings in Synovus Financial Corp. were worth $9,051,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC acquired a new position in Synovus Financial Corp. during the first quarter worth $120,000. Balentine LLC raised its position in Synovus Financial Corp. by 0.3% in the first quarter. Balentine LLC now owns 3,108 shares of the bank’s stock worth $128,000 after buying an additional 9 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Synovus Financial Corp. during the first quarter worth $135,000. PNC Financial Services Group Inc. raised its position 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 worth $145,000 after buying an additional 622 shares during the last quarter. Finally, Neuburgh Advisers LLC raised its position in Synovus Financial Corp. by 14.0% in the first quarter. Neuburgh Advisers LLC now owns 4,704 shares of the bank’s stock worth $193,000 after buying an additional 576 shares during the last quarter. Hedge funds and other institutional investors own 78.35% of the company’s stock.

Synovus Financial Corp. (NYSE SNV) opened at 42.10 on Friday. The firm has a 50-day moving average of $43.87 and a 200 day moving average of $42.35. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 19.12 and a beta of 1.12. Synovus Financial Corp. has a 12-month low of $31.24 and a 12-month high of $45.38.

Synovus Financial Corp. (NYSE:SNV) last issued its quarterly earnings results on Tuesday, July 18th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $319.80 million during the quarter, compared to the consensus estimate of $317.81 million. Synovus Financial Corp. had a net margin of 20.68% and a return on equity of 9.88%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 earnings per share. On average, equities analysts predict that Synovus Financial Corp. will post $2.46 EPS for the current year.

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SNV has been the topic of a number of recent research reports. Stephens restated a “buy” rating and set a $46.00 price target on shares of Synovus Financial Corp. in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, July 19th. ValuEngine upgraded shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Bank of America Corporation upgraded shares of Synovus Financial Corp. from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Thursday, May 11th. Finally, Barclays PLC restated an “equal weight” rating and set a $44.00 price target (up from $42.00) on shares of Synovus Financial Corp. in a research report on Saturday, April 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $42.78.

In other news, EVP Kevin Joseph Howard sold 7,000 shares of Synovus Financial Corp. stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $43.37, for a total transaction of $303,590.00. Following the completion of the sale, the executive vice president now directly owns 46,490 shares in the company, valued at $2,016,271.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Curtis J. Perry sold 7,062 shares of Synovus Financial Corp. stock in a transaction dated 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 of the company’s stock, valued at $2,633,266.68. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

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.

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Institutional Ownership by Quarter for Synovus Financial Corp. (NYSE:SNV)

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