IFP Advisors Inc raised its stake in shares of Synovus Financial Corp. (NYSE:SNV) by 46.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,949 shares of the bank’s stock after buying an additional 4,749 shares during the period. IFP Advisors Inc’s holdings in Synovus Financial Corp. were worth $661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNV. Advisory Services Network LLC acquired a new position in shares of Synovus Financial Corp. during the first quarter valued at about $120,000. Balentine LLC raised its position in shares of Synovus Financial Corp. by 0.3% in the first quarter. Balentine LLC now owns 3,108 shares of the bank’s stock valued at $128,000 after buying an additional 9 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Synovus Financial Corp. during the first quarter valued at about $135,000. PNC Financial Services Group Inc. raised its position 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 buying an additional 622 shares in the last quarter. Finally, Neuburgh Advisers LLC raised its position in shares of Synovus Financial Corp. by 14.0% in the first quarter. Neuburgh Advisers LLC now owns 4,704 shares of the bank’s stock valued at $193,000 after buying an additional 576 shares in the last quarter. 78.35% of the stock is currently owned by institutional investors.

Synovus Financial Corp. (NYSE SNV) opened at 42.40 on Friday. The stock has a 50 day moving average price of $43.89 and a 200-day moving average price of $42.35. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 19.26 and a beta of 1.12. Synovus Financial Corp. has a one year low of $30.87 and a one year high of $45.38.

Synovus Financial Corp. (NYSE:SNV) last posted its earnings results on Tuesday, July 18th. The bank reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.01. Synovus Financial Corp. had a return on equity of 9.88% and a net margin of 20.68%. The business had revenue of $319.80 million for the quarter, compared to analysts’ expectations of $317.81 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. On average, analysts predict that Synovus Financial Corp. will post $2.46 earnings per share for the current fiscal year.

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Several research analysts recently issued reports on the company. Zacks Investment Research lowered Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub lowered Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. ValuEngine raised Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Barclays PLC reaffirmed an “equal weight” rating and set a $46.00 target price (up from $44.00) on shares of Synovus Financial Corp. in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $43.00 target price on shares of Synovus Financial Corp. in a research report on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Synovus Financial Corp. currently has an average rating of “Hold” and a consensus target price of $42.78.

In other news, EVP Kevin Joseph Howard sold 7,000 shares of Synovus Financial Corp. stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $43.37, for a total transaction of $303,590.00. Following the sale, the executive vice president now owns 46,490 shares in the company, valued at $2,016,271.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Curtis J. Perry sold 7,062 shares of Synovus Financial Corp. stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $43.86, for a total value of $309,739.32. Following the sale, the executive vice president now owns 60,038 shares in the company, valued at approximately $2,633,266.68. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

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.

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

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