Insider Selling: Synovus Financial Corp. (SNV) COO Sells 2,125 Shares of Stock
Synovus Financial Corp. (NYSE:SNV) COO Allen J. Gula sold 2,125 shares of Synovus Financial Corp. stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $47.11, for a total transaction of $100,108.75. Following the completion of the transaction, the chief operating officer now owns 72,561 shares of the company’s stock, valued at approximately $3,418,348.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Synovus Financial Corp. (NYSE SNV) traded down 0.91% on Monday, reaching $46.74. 675,075 shares of the company traded hands. The stock has a 50-day moving average of $45.42 and a 200 day moving average of $43.35. The company has a market capitalization of $5.59 billion, a PE ratio of 18.92 and a beta of 1.10. Synovus Financial Corp. has a 52-week low of $32.21 and a 52-week high of $47.67.
Synovus Financial Corp. (NYSE:SNV) last issued its quarterly earnings data on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The business had revenue of $398.01 million during the quarter, compared to the consensus estimate of $331.27 million. Synovus Financial Corp. had a net margin of 21.39% and a return on equity of 10.44%. During the same quarter in the prior year, the firm earned $0.65 EPS. On average, equities analysts forecast that Synovus Financial Corp. will post $2.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 21st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Wednesday, September 20th. Synovus Financial Corp.’s payout ratio is 24.19%.
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A number of research analysts have recently issued reports on SNV shares. Barclays PLC reiterated an “equal weight” rating and issued a $46.00 target price (up previously from $44.00) on shares of Synovus Financial Corp. in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $47.00 target price on shares of Synovus Financial Corp. in a research note on Friday, July 14th. BidaskClub cut shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, Royal Bank Of Canada started coverage on shares of Synovus Financial Corp. in a research note on Monday, July 17th. They issued an “outperform” rating and a $51.00 target price for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $45.09.
Large investors have recently modified their holdings of the stock. Capital Analysts LLC lifted its stake in Synovus Financial Corp. by 10.3% in the 2nd quarter. Capital Analysts LLC now owns 20,248 shares of the bank’s stock valued at $896,000 after purchasing an additional 1,893 shares during the last quarter. TD Asset Management Inc. lifted its stake in Synovus Financial Corp. by 11.5% in the 2nd quarter. TD Asset Management Inc. now owns 31,135 shares of the bank’s stock valued at $1,377,000 after purchasing an additional 3,200 shares during the last quarter. 361 Capital LLC bought a new position in Synovus Financial Corp. in the 2nd quarter valued at approximately $4,032,000. OppenheimerFunds Inc. lifted its stake in Synovus Financial Corp. by 34.9% in the 1st quarter. OppenheimerFunds Inc. now owns 7,726 shares of the bank’s stock valued at $317,000 after purchasing an additional 1,998 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Synovus Financial Corp. by 1.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 635,793 shares of the bank’s stock valued at $28,128,000 after purchasing an additional 10,009 shares during the last quarter. 79.14% 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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