Synovus Financial Corp. (SNV) Shares Bought by EJF Capital LLC
EJF Capital LLC grew its holdings in Synovus Financial Corp. (NYSE:SNV) by 50.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 900,002 shares of the bank’s stock after acquiring an additional 300,000 shares during the quarter. Synovus Financial accounts for approximately 4.3% of EJF Capital LLC’s holdings, making the stock its 5th largest holding. EJF Capital LLC owned 0.75% of Synovus Financial worth $41,454,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Capstone Asset Management Co. lifted its holdings in shares of Synovus Financial by 1.1% during the second quarter. Capstone Asset Management Co. now owns 9,040 shares of the bank’s stock worth $400,000 after purchasing an additional 100 shares during the period. Aperio Group LLC lifted its holdings in shares of Synovus Financial by 9.8% during the second quarter. Aperio Group LLC now owns 42,478 shares of the bank’s stock worth $1,879,000 after purchasing an additional 3,782 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Synovus Financial by 73.0% during the second quarter. Russell Investments Group Ltd. now owns 245,575 shares of the bank’s stock worth $10,864,000 after purchasing an additional 103,593 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Synovus Financial by 5.1% during the second quarter. Great West Life Assurance Co. Can now owns 74,216 shares of the bank’s stock worth $3,281,000 after purchasing an additional 3,618 shares during the period. Finally, World Asset Management Inc lifted its holdings in shares of Synovus Financial by 3.0% during the second quarter. World Asset Management Inc now owns 7,800 shares of the bank’s stock worth $345,000 after purchasing an additional 230 shares during the period. 77.83% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the company. SunTrust Banks reaffirmed a “buy” rating and set a $54.00 target price on shares of Synovus Financial in a report on Wednesday, November 29th. ValuEngine downgraded Synovus Financial from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Zacks Investment Research raised Synovus Financial from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, November 1st. Robert W. Baird reissued a “hold” rating and issued a $43.00 price target on shares of Synovus Financial in a report on Friday, October 20th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 price target on shares of Synovus Financial in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Synovus Financial currently has an average rating of “Hold” and a consensus price target of $45.64.
Shares of Synovus Financial Corp. (NYSE:SNV) traded up $0.52 during trading hours on Tuesday, reaching $50.13. The company’s stock had a trading volume of 583,100 shares, compared to its average volume of 743,464. Synovus Financial Corp. has a one year low of $37.95 and a one year high of $51.09. The firm has a market capitalization of $5,929.13, a P/E ratio of 21.02, a PEG ratio of 2.53 and a beta of 1.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.99.
Synovus Financial (NYSE:SNV) last posted its quarterly earnings data on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The business had revenue of $398.01 million during the quarter, compared to analysts’ expectations of $331.27 million. Synovus Financial had a return on equity of 10.44% and a net margin of 21.39%. During the same period in the previous year, the business earned $0.65 earnings per share. equities research analysts anticipate that Synovus Financial Corp. will post 2.45 EPS for the current year.
Synovus Financial 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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