Curtis J. Perry Sells 8,000 Shares of Synovus Financial Corp. (SNV) Stock
Synovus Financial Corp. (NYSE:SNV) EVP Curtis J. Perry sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $33.66, for a total transaction of $269,280.00. Following the completion of the transaction, the executive vice president now directly owns 57,125 shares in the company, valued at approximately $1,922,827.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Synovus Financial Corp. (NYSE:SNV) opened at 36.47 on Friday. The stock has a market cap of $4.46 billion, a P/E ratio of 20.50 and a beta of 1.31. The stock has a 50 day moving average of $32.87 and a 200 day moving average of $31.47. Synovus Financial Corp. has a 52 week low of $25.48 and a 52 week high of $37.30.
Synovus Financial Corp. (NYSE:SNV) last released its quarterly earnings results on Tuesday, October 18th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. Synovus Financial Corp. had a net margin of 18.68% and a return on equity of 8.68%. During the same period in the previous year, the company posted $0.42 EPS. On average, analysts expect that Synovus Financial Corp. will post $1.89 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in SNV. BNP Paribas Arbitrage SA boosted its stake in Synovus Financial Corp. by 238.1% in the second quarter. BNP Paribas Arbitrage SA now owns 62,043 shares of the company’s stock worth $1,799,000 after buying an additional 43,692 shares in the last quarter. BlueMountain Capital Management LLC boosted its stake in Synovus Financial Corp. by 108.6% in the first quarter. BlueMountain Capital Management LLC now owns 35,966 shares of the company’s stock worth $1,040,000 after buying an additional 18,724 shares in the last quarter. ProVise Management Group LLC bought a new stake in Synovus Financial Corp. during the second quarter worth about $410,000. Jacobs Levy Equity Management Inc. boosted its stake in Synovus Financial Corp. by 46.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 91,922 shares of the company’s stock worth $2,657,000 after buying an additional 29,270 shares in the last quarter. Finally, HBK Investments L P bought a new stake in Synovus Financial Corp. during the first quarter worth about $332,000. 76.90% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on SNV. Credit Agricole SA downgraded shares of Synovus Financial Corp. from an “outperform” rating to an “underperform” rating in a report on Wednesday, October 19th. Zacks Investment Research raised shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday, October 21st. Wells Fargo & Co. downgraded shares of Synovus Financial Corp. from a “market perform” rating to an “underperform” rating in a research note on Tuesday, August 23rd. Hovde Group upped their price target on shares of Synovus Financial Corp. from $34.00 to $35.50 and gave the company an “outperform” rating in a research note on Friday, August 19th. Finally, Barclays PLC upped their price target on shares of Synovus Financial Corp. from $29.00 to $31.00 and gave the company an “underweight” rating in a research note on Wednesday, July 20th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $32.29.
About Synovus Financial Corp.
Synovus Financial Corp. 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 over 30 locally branded banking divisions of its subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.
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