Legal & General Group Plc increased its holdings in Synovus Financial Corp. (NYSE:SNV) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,380 shares of the bank’s stock after acquiring an additional 11,074 shares during the quarter. Legal & General Group Plc owned approximately 0.11% of Synovus Financial Corp. worth $5,945,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Balentine LLC increased its holdings in shares of Synovus Financial Corp. by 0.3% in the 1st quarter. Balentine LLC now owns 3,108 shares of the bank’s stock valued at $128,000 after acquiring an additional 9 shares during the period. Keel Point LLC increased its holdings in shares of Synovus Financial Corp. by 0.3% in the 1st quarter. Keel Point LLC now owns 5,761 shares of the bank’s stock valued at $236,000 after acquiring an additional 17 shares during the period. World Asset Management Inc increased its holdings in shares of Synovus Financial Corp. by 0.8% in the 1st quarter. World Asset Management Inc now owns 7,570 shares of the bank’s stock valued at $311,000 after acquiring an additional 60 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Synovus Financial Corp. by 0.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,820 shares of the bank’s stock valued at $434,000 after acquiring an additional 84 shares during the period. Finally, Capstone Asset Management Co. increased its holdings in shares of Synovus Financial Corp. by 1.1% in the 2nd quarter. Capstone Asset Management Co. now owns 9,040 shares of the bank’s stock valued at $400,000 after acquiring an additional 100 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

In other Synovus Financial Corp. news, EVP Curtis J. Perry sold 7,062 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $43.86, for a total value of $309,739.32. Following the sale, the executive vice president now directly owns 60,038 shares in the company, valued at $2,633,266.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin Joseph Howard sold 7,000 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $43.37, for a total value of $303,590.00. Following the completion of the sale, the executive vice president now owns 46,490 shares in the company, valued at $2,016,271.30. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

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A number of equities analysts have recently commented on the stock. ValuEngine cut shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird reaffirmed a “hold” rating and issued a $40.00 target price on shares of Synovus Financial Corp. in a report on Friday, August 25th. Stephens set a $46.00 target price on shares of Synovus Financial Corp. and gave the company a “buy” rating in a report on Tuesday, August 15th. BidaskClub cut shares of Synovus Financial Corp. from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, Zacks Investment Research cut shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. Synovus Financial Corp. has a consensus rating of “Hold” and a consensus target price of $42.50.

Synovus Financial Corp. (NYSE SNV) opened at 40.52 on Friday. The firm has a 50-day moving average of $42.68 and a 200 day moving average of $42.35. Synovus Financial Corp. has a 52 week low of $31.41 and a 52 week high of $45.38. The firm has a market capitalization of $4.92 billion, a PE ratio of 18.40 and a beta of 1.12.

Synovus Financial Corp. (NYSE:SNV) last posted its earnings results on Tuesday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.88% and a net margin of 20.68%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. Analysts predict that Synovus Financial Corp. will post $2.46 earnings per share for the current year.

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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