Capital City Trust Co. FL Has $449,000 Stake in Synovus Financial Corp. (SNV)
Capital City Trust Co. FL decreased its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 41.0% during the 4th quarter, Holdings Channel reports. The firm owned 9,742 shares of the bank’s stock after selling 6,776 shares during the period. Capital City Trust Co. FL’s holdings in Synovus Financial were worth $449,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of SNV. Balentine LLC boosted its holdings in Synovus Financial by 0.4% in the second quarter. Balentine LLC now owns 3,120 shares of the bank’s stock valued at $138,000 after acquiring an additional 12 shares during the last quarter. M&T Bank Corp boosted its holdings in Synovus Financial by 1.3% in the second quarter. M&T Bank Corp now owns 7,288 shares of the bank’s stock valued at $322,000 after acquiring an additional 91 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Synovus Financial by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,608 shares of the bank’s stock valued at $204,000 after acquiring an additional 474 shares during the last quarter. Keel Point LLC boosted its holdings in Synovus Financial by 8.7% in the second quarter. Keel Point LLC now owns 6,262 shares of the bank’s stock valued at $277,000 after acquiring an additional 501 shares during the last quarter. Finally, Colonial Trust Advisors boosted its holdings in Synovus Financial by 8.9% in the second quarter. Colonial Trust Advisors now owns 6,130 shares of the bank’s stock valued at $271,000 after acquiring an additional 503 shares during the last quarter. Institutional investors and hedge funds own 77.81% of the company’s stock.
In other Synovus Financial news, EVP R Dallis Copeland, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $46.29, for a total value of $462,900.00. Following the transaction, the executive vice president now directly owns 43,488 shares of the company’s stock, valued at $2,013,059.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Allen J. Gula sold 2,125 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $47.11, for a total value of $100,108.75. Following the completion of the transaction, the chief operating officer now directly owns 72,561 shares in the company, valued at $3,418,348.71. The disclosure for this sale can be found here. Insiders sold 13,177 shares of company stock worth $614,367 over the last three months. 1.50% of the stock is currently owned by corporate insiders.
A number of research analysts recently weighed in on the company. Robert W. Baird reiterated an “average” rating and issued a $47.00 target price on shares of Synovus Financial in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Synovus Financial from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, September 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 target price on shares of Synovus Financial in a report on Thursday, October 19th. SunTrust Banks reiterated a “buy” rating and issued a $51.00 target price on shares of Synovus Financial in a report on Thursday, October 12th. Finally, Jefferies Group reissued a “hold” rating and issued a $50.00 price objective on shares of Synovus Financial in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Synovus Financial has a consensus rating of “Hold” and an average target price of $47.30.
Synovus Financial Corp. (SNV) traded up $0.50 during trading hours on Wednesday, reaching $50.36. The company’s stock had a trading volume of 889,907 shares, compared to its average volume of 737,943. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. Synovus Financial Corp. has a one year low of $37.95 and a one year high of $51.09. The stock has a market capitalization of $5,960.00, a price-to-earnings ratio of 20.31, a PEG ratio of 2.09 and a beta of 1.13.
Synovus Financial (NYSE:SNV) last released its quarterly earnings data on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. Synovus Financial had a return on equity of 10.44% and a net margin of 21.39%. The company had revenue of $398.01 million for the quarter, compared to analyst estimates of $331.27 million. During the same period last year, the company posted $0.65 earnings per share. research analysts predict that Synovus Financial Corp. will post 2.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 21st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.19%. The ex-dividend date was Wednesday, December 20th. Synovus Financial’s dividend payout ratio (DPR) is presently 24.19%.
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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