CNA Financial Corp Sells 2,078 Shares of Synovus Financial Corp. (SNV)
CNA Financial Corp trimmed its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,845 shares of the bank’s stock after selling 2,078 shares during the quarter. CNA Financial Corp’s holdings in Synovus Financial Corp. were worth $1,006,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Balentine LLC increased its position in Synovus Financial Corp. by 0.4% during the second quarter. Balentine LLC now owns 3,120 shares of the bank’s stock worth $138,000 after acquiring an additional 12 shares during the period. TLP Group LLC bought a new position in Synovus Financial Corp. in the 2nd quarter valued at about $145,000. Advisory Services Network LLC increased its holdings in Synovus Financial Corp. by 17.8% in the 2nd quarter. Advisory Services Network LLC now owns 3,435 shares of the bank’s stock valued at $152,000 after buying an additional 519 shares during the period. PNC Financial Services Group Inc. increased its holdings in Synovus Financial Corp. by 21.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the bank’s stock valued at $145,000 after buying an additional 622 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Synovus Financial Corp. by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,608 shares of the bank’s stock valued at $204,000 after buying an additional 474 shares during the period. 78.65% of the stock is currently owned by institutional investors and hedge funds.
In other Synovus Financial Corp. news, EVP R Dallis Copeland, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $46.29, for a total transaction of $462,900.00. Following the completion of the sale, the executive vice president now owns 43,488 shares in the company, valued at approximately $2,013,059.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Allen J. Gula sold 2,125 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $47.11, for a total transaction of $100,108.75. Following the sale, the chief operating officer now owns 72,561 shares of the company’s stock, valued at approximately $3,418,348.71. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
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Synovus Financial Corp. (NYSE SNV) traded up $0.56 during trading hours on Wednesday, hitting $46.21. 612,800 shares of the stock traded hands, compared to its average volume of 751,228. The company has a market cap of $5,455.85, a price-to-earnings ratio of 19.34, a P/E/G ratio of 2.30 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. Synovus Financial Corp. has a 12 month low of $37.55 and a 12 month high of $47.67.
Synovus Financial Corp. (NYSE:SNV) last released its quarterly earnings data on Tuesday, October 17th. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The company had revenue of $398.01 million during the quarter, compared to analyst estimates of $331.27 million. Synovus Financial Corp. had a net margin of 21.39% and a return on equity of 10.44%. During the same quarter in the previous year, the business posted $0.65 EPS. equities research analysts anticipate that Synovus Financial Corp. will post 2.48 EPS for the current fiscal year.
Several equities analysts have commented on SNV shares. Jefferies Group LLC reissued a “hold” rating and issued a $50.00 target price on shares of Synovus Financial Corp. in a report on Thursday, October 12th. ValuEngine lowered shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Zacks Investment Research raised shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, July 19th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 target price on shares of Synovus Financial Corp. in a report on Thursday, October 19th. Finally, Robert W. Baird restated a “hold” rating and issued a $43.00 price target on shares of Synovus Financial Corp. in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $45.36.
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.
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