Synovus Financial Corp Has $237.38 Million Stock Holdings in Synovus Financial Corp. (NYSE:SNV)
Synovus Financial Corp reduced its holdings in Synovus Financial Corp. (NYSE:SNV) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,055,449 shares of the bank’s stock after selling 21,888 shares during the quarter. Synovus Financial accounts for about 3.2% of Synovus Financial Corp’s investment portfolio, making the stock its 5th largest holding. Synovus Financial Corp owned about 4.13% of Synovus Financial worth $237,376,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the business. Carillon Tower Advisers Inc. increased its holdings in shares of Synovus Financial by 341.1% in the third quarter. Carillon Tower Advisers Inc. now owns 754,225 shares of the bank’s stock worth $26,971,000 after acquiring an additional 583,250 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Synovus Financial by 6.4% during the third quarter. Parametric Portfolio Associates LLC now owns 435,775 shares of the bank’s stock worth $15,583,000 after buying an additional 26,288 shares in the last quarter. Bayview Asset Management LLC bought a new position in shares of Synovus Financial during the third quarter worth about $14,404,000. Rhumbline Advisers grew its holdings in shares of Synovus Financial by 7.0% during the third quarter. Rhumbline Advisers now owns 400,860 shares of the bank’s stock worth $14,335,000 after buying an additional 26,223 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of Synovus Financial by 0.9% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 386,423 shares of the bank’s stock worth $15,148,000 after buying an additional 3,560 shares in the last quarter. Institutional investors own 81.00% of the company’s stock.
SNV stock traded down $0.55 during mid-day trading on Friday, reaching $36.63. The company had a trading volume of 674,233 shares, compared to its average volume of 1,347,508. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.95 and a quick ratio of 0.94. The stock has a 50 day simple moving average of $37.88 and a two-hundred day simple moving average of $36.76. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 1.31 and a beta of 1.38. Synovus Financial Corp. has a 52 week low of $31.80 and a 52 week high of $40.41.
A number of research analysts recently issued reports on the company. Raymond James downgraded Synovus Financial from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $46.00 to $41.00 in a report on Monday, January 27th. Royal Bank of Canada reiterated a “hold” rating and set a $39.00 price objective on shares of Synovus Financial in a report on Monday, January 27th. SunTrust Banks decreased their price objective on Synovus Financial to in a report on Monday, January 27th. ValuEngine upgraded Synovus Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Piper Jaffray Companies set a $39.00 price objective on Synovus Financial and gave the stock a “buy” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $42.55.
About Synovus Financial
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides various financial products and services. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. The company's commercial banking services comprise treasury management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
Recommended Story: Compound Annual Growth Rate (CAGR)
Receive News & Ratings for Synovus Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial and related companies with MarketBeat.com's FREE daily email newsletter.