Chicago Equity Partners LLC raised its position in Synovus Financial Corp. (NYSE:SNV) by 244.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 185,105 shares of the bank’s stock after buying an additional 131,415 shares during the period. Chicago Equity Partners LLC owned 0.15% of Synovus Financial Corp. worth $8,189,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Synovus Financial Corp. by 3.7% in the first quarter. Vanguard Group Inc. now owns 10,598,706 shares of the bank’s stock worth $434,759,000 after buying an additional 375,030 shares during the last quarter. BlackRock Inc. boosted its position in shares of Synovus Financial Corp. by 5,961.9% in the first quarter. BlackRock Inc. now owns 10,236,350 shares of the bank’s stock worth $419,894,000 after buying an additional 10,067,487 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Synovus Financial Corp. by 0.6% in the first quarter. Eagle Asset Management Inc. now owns 2,679,970 shares of the bank’s stock worth $109,932,000 after buying an additional 16,873 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Synovus Financial Corp. by 17.5% in the first quarter. Alliancebernstein L.P. now owns 2,262,072 shares of the bank’s stock worth $92,790,000 after buying an additional 337,157 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Synovus Financial Corp. by 3.0% in the first quarter. FMR LLC now owns 1,875,742 shares of the bank’s stock worth $76,943,000 after buying an additional 55,500 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

Shares of Synovus Financial Corp. (NYSE SNV) opened at 42.12 on Friday. Synovus Financial Corp. has a 52 week low of $31.41 and a 52 week high of $45.38. The stock’s 50 day moving average is $43.09 and its 200-day moving average is $42.38. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 19.13 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, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Synovus Financial Corp. had a net margin of 20.68% and a return on equity of 9.88%. The company had revenue of $319.80 million for the quarter, compared to analysts’ expectations of $317.81 million. During the same period in the prior year, the business earned $0.46 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that Synovus Financial Corp. will post $2.46 earnings per share for the current year.

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SNV has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “hold” rating and issued a $47.00 target price on shares of Synovus Financial Corp. in a research report on Sunday, June 11th. Robert W. Baird reissued a “hold” rating and issued a $40.00 price target on shares of Synovus Financial Corp. in a report on Friday, August 25th. BidaskClub lowered shares of Synovus Financial Corp. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada began coverage on shares of Synovus Financial Corp. in a report on Monday, July 17th. They issued an “outperform” rating and a $51.00 price target on the stock. Finally, Zacks Investment Research raised shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The stock 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 Synovus Financial Corp. stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $43.37, for a total transaction of $303,590.00. Following the completion of the transaction, the executive vice president now directly owns 46,490 shares of the company’s stock, valued at approximately $2,016,271.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Curtis J. Perry sold 7,062 shares of Synovus Financial Corp. stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $43.86, for a total transaction of $309,739.32. Following the transaction, the executive vice president now directly owns 60,038 shares of the company’s stock, valued at $2,633,266.68. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

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

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