Synovus Financial Corp. (SNV) EVP R Dallis Copeland, Jr. Sells 10,000 Shares
Synovus Financial Corp. (NYSE:SNV) EVP R Dallis Copeland, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $46.29, for a total value of $462,900.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Synovus Financial Corp. (NYSE:SNV) traded up 1.15% during trading on Friday, reaching $47.30. The company had a trading volume of 723,096 shares. The company has a 50-day moving average price of $44.58 and a 200 day moving average price of $43.08. The stock has a market cap of $5.75 billion, a PE ratio of 21.48 and a beta of 1.10. Synovus Financial Corp. has a 52-week low of $31.87 and a 52-week high of $47.67.
Synovus Financial Corp. (NYSE:SNV) last issued its earnings results on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The business had revenue of $398.01 million during the quarter, compared to analysts’ expectations of $331.27 million. Synovus Financial Corp. had a return on equity of 10.44% and a net margin of 21.39%. During the same quarter last year, the firm posted $0.65 earnings per share. On average, analysts anticipate that Synovus Financial Corp. will post $2.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, September 21st were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 20th. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. Synovus Financial Corp.’s dividend payout ratio (DPR) is presently 24.19%.
A number of equities analysts have recently weighed in on the company. Robert W. Baird reissued a “hold” rating and issued a $43.00 price target on shares of Synovus Financial Corp. in a report on Friday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 price target on shares of Synovus Financial Corp. in a report on Thursday. Barclays PLC set a $49.00 price target on Synovus Financial Corp. and gave the stock a “hold” rating in a report on Wednesday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $51.00 price target on shares of Synovus Financial Corp. in a report on Thursday, October 12th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $50.00 price target on shares of Synovus Financial Corp. in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Synovus Financial Corp. has an average rating of “Hold” and a consensus target price of $45.09.
Institutional investors have recently modified their holdings of the company. Balentine LLC boosted its position in shares of Synovus Financial Corp. by 0.4% in the second quarter. Balentine LLC now owns 3,120 shares of the bank’s stock worth $138,000 after buying an additional 12 shares during the period. TLP Group LLC acquired a new stake in shares of Synovus Financial Corp. in the second quarter worth $145,000. Advisory Services Network LLC boosted its position in shares of Synovus Financial Corp. by 17.8% in the second quarter. Advisory Services Network LLC now owns 3,435 shares of the bank’s stock worth $152,000 after buying an additional 519 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Synovus Financial Corp. by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,608 shares of the bank’s stock worth $204,000 after buying an additional 474 shares during the period. 77.87% of the stock is owned by institutional investors and hedge funds.
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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