Synovus Financial Corp. (NYSE:SNV) VP Mark G. Holladay acquired 4,000 shares of Synovus Financial stock in a transaction dated Thursday, June 21st. The shares were bought at an average cost of $25.00 per share, with a total value of $100,000.00. Following the transaction, the vice president now owns 4,000 shares in the company, valued at $100,000. The purchase was disclosed in a filing with the SEC, which is available through this link.
Shares of Synovus Financial opened at $54.73 on Friday, according to MarketBeat.com. Synovus Financial Corp. has a 12-month low of $40.27 and a 12-month high of $57.40. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $6.49 billion, a P/E ratio of 19.34, a PEG ratio of 1.91 and a beta of 1.06.
Synovus Financial (NYSE:SNV) last issued its earnings results on Tuesday, April 24th. The bank reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.08. Synovus Financial had a return on equity of 12.29% and a net margin of 19.87%. The company had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $343.04 million. During the same period last year, the business earned $0.57 EPS. Synovus Financial’s quarterly revenue was up 12.2% compared to the same quarter last year. sell-side analysts forecast that Synovus Financial Corp. will post 3.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Thursday, June 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Wednesday, June 20th. Synovus Financial’s dividend payout ratio is currently 39.53%.
Several institutional investors and hedge funds have recently modified their holdings of SNV. Summit Trail Advisors LLC lifted its holdings in shares of Synovus Financial by 3,778.6% in the 1st quarter. Summit Trail Advisors LLC now owns 168,098 shares of the bank’s stock worth $168,000 after purchasing an additional 163,764 shares in the last quarter. Calamos Advisors LLC bought a new position in Synovus Financial during the 4th quarter valued at $201,000. CIBC Asset Management Inc bought a new position in Synovus Financial during the 1st quarter valued at $201,000. Cigna Investments Inc. New bought a new position in Synovus Financial during the 1st quarter valued at $207,000. Finally, Csenge Advisory Group bought a new position in Synovus Financial during the 1st quarter valued at $209,000. Institutional investors own 79.89% of the company’s stock.
Several brokerages have recently commented on SNV. ValuEngine downgraded shares of Synovus Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Morgan Stanley raised their price objective on shares of Synovus Financial from $53.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, April 27th. Zacks Investment Research raised shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, April 30th. Barclays raised their price objective on shares of Synovus Financial from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Synovus Financial from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. Synovus Financial has a consensus rating of “Hold” and a consensus target price of $53.40.
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 cash management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.
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