Synovus Financial Corp. (SNV) Position Raised by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd increased its position in shares of Synovus Financial Corp. (NYSE:SNV) by 390.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,871 shares of the bank’s stock after buying an additional 24,580 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Synovus Financial were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Balentine LLC increased its holdings in Synovus Financial by 0.4% during the second quarter. Balentine LLC now owns 3,120 shares of the bank’s stock worth $138,000 after buying an additional 12 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Synovus Financial by 0.9% during the second quarter. Teacher Retirement System of Texas now owns 9,820 shares of the bank’s stock worth $434,000 after buying an additional 84 shares during the last quarter. M&T Bank Corp increased its holdings in Synovus Financial by 1.3% during the second quarter. M&T Bank Corp now owns 7,288 shares of the bank’s stock worth $322,000 after buying an additional 91 shares during the last quarter. Capstone Asset Management Co. increased its holdings in 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 buying an additional 100 shares during the last quarter. Finally, Calamos Advisors LLC increased its holdings in Synovus Financial by 2.4% during the second quarter. Calamos Advisors LLC now owns 6,750 shares of the bank’s stock worth $299,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 77.83% of the company’s stock.

In related news, EVP R Dallis Copeland, Jr. sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $46.29, for a total value of $462,900.00. Following the transaction, the executive vice president now directly owns 43,488 shares in the company, valued at $2,013,059.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Allen J. Gula sold 2,125 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $47.11, for a total transaction of $100,108.75. Following the completion of the transaction, the chief operating officer now owns 72,561 shares in the company, valued at $3,418,348.71. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Synovus Financial Corp. (NYSE SNV) traded up $0.52 during mid-day trading on Monday, hitting $50.13. 583,183 shares of the company traded hands, compared to its average volume of 743,464. 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 Corp. has a fifty-two week low of $37.95 and a fifty-two week 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.

Synovus Financial (NYSE:SNV) last released its quarterly earnings results on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Synovus Financial had a net margin of 21.39% and a return on equity of 10.44%. The business had revenue of $398.01 million for the quarter, compared to the consensus estimate of $331.27 million. During the same period in the prior year, the company posted $0.65 earnings per share. equities research analysts anticipate that Synovus Financial Corp. will post 2.45 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on SNV shares. Jefferies Group restated a “hold” rating and set a $50.00 target price on shares of Synovus Financial in a report on Thursday, October 12th. ValuEngine downgraded shares of Synovus Financial from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Robert W. Baird reiterated a “hold” rating and issued a $43.00 price objective on shares of Synovus Financial in a report on Friday, October 20th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 price objective on shares of Synovus Financial in a report on Thursday, October 19th. Finally, Zacks Investment Research downgraded shares of Synovus Financial from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Synovus Financial has a consensus rating of “Hold” and an average target price of $45.64.

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Synovus Financial 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.

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

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