SG Americas Securities LLC Boosts Position in Synovus Financial Corp. (SNV)

SG Americas Securities LLC increased its position in Synovus Financial Corp. (NYSE:SNV) by 49.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,043 shares of the bank’s stock after buying an additional 18,609 shares during the period. SG Americas Securities LLC’s holdings in Synovus Financial Corp. were worth $2,299,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. World Asset Management Inc raised its stake in shares of Synovus Financial Corp. by 0.8% in the first quarter. World Asset Management Inc now owns 7,570 shares of the bank’s stock worth $311,000 after buying an additional 60 shares in the last quarter. First Allied Advisory Services Inc. raised its stake in shares of Synovus Financial Corp. by 1.5% in the fourth quarter. First Allied Advisory Services Inc. now owns 7,231 shares of the bank’s stock valued at $297,000 after buying an additional 106 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Synovus Financial Corp. by 10.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,232 shares of the bank’s stock valued at $132,000 after buying an additional 297 shares during the period. Capstone Asset Management Co. raised its stake in shares of Synovus Financial Corp. by 4.6% in the first quarter. Capstone Asset Management Co. now owns 8,940 shares of the bank’s stock valued at $367,000 after buying an additional 390 shares during the period. Finally, State Treasurer State of Michigan raised its stake in shares of Synovus Financial Corp. by 1.0% in the first quarter. State Treasurer State of Michigan now owns 49,705 shares of the bank’s stock valued at $2,039,000 after buying an additional 500 shares during the period. 79.03% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Synovus Financial Corp. (NYSE:SNV) traded down 0.84% during midday trading on Friday, hitting $43.45. 1,775,255 shares of the company’s stock traded hands. Synovus Financial Corp. has a 1-year low of $26.90 and a 1-year high of $44.44. The company has a 50 day moving average price of $42.14 and a 200 day moving average price of $41.57. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 21.07 and a beta of 1.13.

Synovus Financial Corp. (NYSE:SNV) last announced its quarterly earnings data on Tuesday, April 18th. The bank reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The company had revenue of $311.77 million during the quarter, compared to the consensus estimate of $303.05 million. Synovus Financial Corp. had a net margin of 20.04% and a return on equity of 9.50%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. Equities analysts anticipate that Synovus Financial Corp. will post $2.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Tuesday, June 13th. Synovus Financial Corp.’s dividend payout ratio (DPR) is 28.99%.

TRADEMARK VIOLATION WARNING: This story was first reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://transcriptdaily.com/2017/06/17/synovus-financial-corp-snv-shares-bought-by-sg-americas-securities-llc-updated-updated.html.

Several brokerages recently issued reports on SNV. Jefferies Group LLC restated a “hold” rating and set a $47.00 price objective on shares of Synovus Financial Corp. in a research report on Sunday, June 11th. ValuEngine raised shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Thursday, April 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $43.00 price target on shares of Synovus Financial Corp. in a research report on Friday, May 19th. Finally, Bank of America Corporation raised shares of Synovus Financial Corp. from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Synovus Financial Corp. presently has an average rating of “Hold” and an average target price of $38.81.

In related news, EVP Jeffrey Barton Singleton sold 10,500 shares of Synovus Financial Corp. stock in a transaction on Friday, April 21st. The shares were sold at an average price of $41.96, for a total value of $440,580.00. Following the completion of the sale, the executive vice president now owns 58,781 shares of the company’s stock, valued at approximately $2,466,450.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP D Wayne Akins, Jr. sold 3,500 shares of Synovus Financial Corp. stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $42.96, for a total transaction of $150,360.00. Following the completion of the sale, the executive vice president now directly owns 34,994 shares of the company’s stock, valued at approximately $1,503,342.24. 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.

Receive News & Ratings for Synovus Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply