Csenge Advisory Group bought a new stake in Synovus Financial Corp. (NYSE:SNV) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,230 shares of the bank’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNV. OppenheimerFunds Inc. lifted its holdings in shares of Synovus Financial Corp. by 34.9% in the first quarter. OppenheimerFunds Inc. now owns 7,726 shares of the bank’s stock valued at $317,000 after purchasing an additional 1,998 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Synovus Financial Corp. by 21.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the bank’s stock valued at $145,000 after purchasing an additional 622 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Synovus Financial Corp. by 12.1% in the first quarter. New York State Teachers Retirement System now owns 38,900 shares of the bank’s stock valued at $1,596,000 after purchasing an additional 4,200 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Synovus Financial Corp. in the first quarter valued at $333,000. Finally, Janus Capital Management LLC lifted its holdings in shares of Synovus Financial Corp. by 56.6% in the first quarter. Janus Capital Management LLC now owns 159,900 shares of the bank’s stock valued at $6,559,000 after purchasing an additional 57,800 shares in the last quarter. Institutional investors own 79.14% of the company’s stock.

In other Synovus Financial Corp. news, COO Allen J. Gula sold 2,125 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $47.11, for a total transaction of $100,108.75. Following the transaction, the chief operating officer now directly owns 72,561 shares of the company’s stock, valued at $3,418,348.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP R Dallis Copeland, Jr. sold 10,000 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $46.29, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

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A number of research firms have recently issued reports on SNV. Zacks Investment Research upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday. BidaskClub downgraded shares of Synovus Financial Corp. from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Stephens set a $46.00 price target on shares of Synovus Financial Corp. and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $50.00 price target on shares of Synovus Financial Corp. in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $48.00 price target on shares of Synovus Financial Corp. in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $45.36.

Synovus Financial Corp. (SNV) opened at $47.08 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $5,629.21, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13.

Synovus Financial Corp. (NYSE:SNV) last posted its earnings results on Tuesday, October 17th. The bank reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The firm had revenue of $398.01 million for the quarter, compared to the consensus estimate of $331.27 million. Synovus Financial Corp. had a net margin of 21.39% and a return on equity of 10.44%. During the same period in the prior year, the business posted $0.65 earnings per share. equities research analysts anticipate that Synovus Financial Corp. will post 2.48 EPS for the current fiscal year.

Synovus Financial Corp. 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 Corp. (NYSE:SNV)

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