Gratus Capital LLC raised its stake in shares of Synovus Financial Corp. (NYSE:SNV) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,276 shares of the bank’s stock after buying an additional 450 shares during the period. Gratus Capital LLC’s holdings in Synovus Financial Corp. were worth $764,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Capstone Asset Management Co. raised its position in Synovus Financial Corp. by 4.6% in the first quarter. Capstone Asset Management Co. now owns 8,940 shares of the bank’s stock valued at $367,000 after buying an additional 390 shares during the last quarter. Nationwide Fund Advisors raised its position in Synovus Financial Corp. by 4.1% in the first quarter. Nationwide Fund Advisors now owns 214,613 shares of the bank’s stock valued at $8,803,000 after buying an additional 8,357 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in Synovus Financial Corp. by 14.0% in the first quarter. Glen Harbor Capital Management LLC now owns 6,468 shares of the bank’s stock valued at $265,000 after buying an additional 792 shares during the last quarter. First Mercantile Trust Co. raised its position in Synovus Financial Corp. by 16.2% in the first quarter. First Mercantile Trust Co. now owns 7,190 shares of the bank’s stock valued at $295,000 after buying an additional 1,000 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Synovus Financial Corp. by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 43,090 shares of the bank’s stock valued at $1,768,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Shares of Synovus Financial Corp. (SNV) opened at 42.09 on Thursday. Synovus Financial Corp. has a 12 month low of $31.41 and a 12 month high of $45.38. The stock has a 50 day moving average price of $43.40 and a 200 day moving average price of $42.37. The stock has a market cap of $5.11 billion, a P/E ratio of 19.11 and a beta of 1.12.

Synovus Financial Corp. (NYSE:SNV) last issued its earnings results on Tuesday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. The company had revenue of $319.80 million for the quarter, compared to analysts’ expectations of $317.81 million. Synovus Financial Corp. had a net margin of 20.68% and a return on equity of 9.88%. Synovus Financial Corp.’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. Equities analysts anticipate that Synovus Financial Corp. will post $2.46 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/31/gratus-capital-llc-has-764000-position-in-synovus-financial-corp-snv.html.

A number of equities research analysts have issued reports on the company. Bank of America Corporation raised Synovus Financial Corp. from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, May 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $43.00 price target on shares of Synovus Financial Corp. in a research report on Friday, May 19th. Jefferies Group LLC reissued a “hold” rating and set a $47.00 price target on shares of Synovus Financial Corp. in a research report on Sunday, June 11th. ValuEngine raised Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Barclays PLC reissued an “equal weight” rating and set a $46.00 price target (up previously from $44.00) on shares of Synovus Financial Corp. in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Synovus Financial Corp. currently has an average rating of “Hold” and an average target price of $42.50.

In other news, EVP Kevin Joseph Howard sold 7,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $43.37, for a total value of $303,590.00. Following the sale, the executive vice president now directly owns 46,490 shares of the company’s stock, valued at approximately $2,016,271.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Curtis J. Perry sold 7,062 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $43.86, for a total transaction of $309,739.32. Following the completion of the sale, the executive vice president now directly owns 60,038 shares in the company, valued at $2,633,266.68. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

About Synovus Financial Corp.

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.

Institutional Ownership by Quarter for Synovus Financial Corp. (NYSE:SNV)

Receive News & Stock Ratings for Synovus Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial Corp. and related stocks with our FREE daily email newsletter.