Compass Point downgraded shares of Synovus Financial Corp. (NYSE:SNV) from a buy rating to a neutral rating in a research note released on Friday.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Synovus Financial Corp. from a buy rating to a hold rating in a report on Monday, November 14th. cut shares of Synovus Financial Corp. from an outperform rating to an underperform rating in a report on Wednesday, October 19th. Wells Fargo & Co. cut shares of Synovus Financial Corp. from a market perform rating to an underperform rating in a report on Tuesday, August 23rd. Finally, Hovde Group upped their price target on shares of Synovus Financial Corp. from $34.00 to $35.50 and gave the stock an outperform rating in a report on Friday, August 19th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Synovus Financial Corp. currently has a consensus rating of Hold and an average price target of $32.29.

Shares of Synovus Financial Corp. (NYSE:SNV) traded down 0.5942% on Friday, reaching $38.4601. 282,057 shares of the company were exchanged. The company’s 50-day moving average is $33.75 and its 200-day moving average is $31.71. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 21.6189 and a beta of 1.31. Synovus Financial Corp. has a 52 week low of $25.48 and a 52 week high of $39.00.

Synovus Financial Corp. (NYSE:SNV) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 quarter in the previous year, the business earned $0.42 EPS. On average, equities analysts expect that Synovus Financial Corp. will post $1.89 EPS for the current fiscal year.

In related news, EVP Curtis J. Perry sold 8,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $33.66, for a total value of $269,280.00. Following the completion of the transaction, the executive vice president now directly owns 57,125 shares of the company’s stock, valued at approximately $1,922,827.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark G. Holladay sold 6,035 shares of the stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $33.28, for a total transaction of $200,844.80. Following the completion of the transaction, the vice president now directly owns 53,967 shares of the company’s stock, valued at $1,796,021.76. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of Synovus Financial Corp. by 238.1% in the second quarter. BNP Paribas Arbitrage SA now owns 62,043 shares of the company’s stock valued at $1,799,000 after buying an additional 43,692 shares during the last quarter. BlueMountain Capital Management LLC raised its position in shares of Synovus Financial Corp. by 108.6% in the first quarter. BlueMountain Capital Management LLC now owns 35,966 shares of the company’s stock valued at $1,040,000 after buying an additional 18,724 shares during the last quarter. ProVise Management Group LLC bought a new position in shares of Synovus Financial Corp. during the second quarter valued at approximately $410,000. Jacobs Levy Equity Management Inc. raised its position in shares of 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 valued at $2,657,000 after buying an additional 29,270 shares during the last quarter. Finally, HBK Investments L P bought a new position in shares of Synovus Financial Corp. during the first quarter valued at approximately $332,000. 78.70% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NYSE:SNV

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