Employees Retirement System of Texas maintained its position in Synovus Financial Corp. (NYSE:SNV) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,785 shares of the bank’s stock at the end of the second quarter. Employees Retirement System of Texas owned about 0.09% of Synovus Financial Corp. worth $4,724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TLP Group LLC acquired a new position in shares of Synovus Financial Corp. during the 2nd quarter valued at about $145,000. Meeder Asset Management Inc. acquired a new position in shares of Synovus Financial Corp. during the 1st quarter valued at about $135,000. PNC Financial Services Group Inc. increased its stake in shares of Synovus Financial Corp. by 21.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the bank’s stock valued at $145,000 after acquiring an additional 622 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Synovus Financial Corp. by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,608 shares of the bank’s stock valued at $204,000 after acquiring an additional 474 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in shares of Synovus Financial Corp. during the 1st quarter valued at about $216,000. 77.86% of the stock is owned by institutional investors.

Shares of Synovus Financial Corp. (NYSE SNV) opened at 46.92 on Friday. The company’s 50-day moving average is $43.20 and its 200-day moving average is $42.60. Synovus Financial Corp. has a 52-week low of $31.41 and a 52-week high of $46.96. The firm has a market cap of $5.70 billion, a P/E ratio of 21.31 and a beta of 1.10.

Synovus Financial Corp. (NYSE:SNV) last issued its quarterly earnings data on Tuesday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating 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 the consensus estimate of $317.81 million. During the same period last year, the business earned $0.46 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that Synovus Financial Corp. will post $2.47 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 21st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Wednesday, September 20th. Synovus Financial Corp.’s payout ratio is 27.15%.

In related news, EVP Curtis J. Perry sold 7,062 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $43.86, for a total value of $309,739.32. Following the transaction, the executive vice president now directly owns 60,038 shares of the company’s stock, valued at approximately $2,633,266.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin Joseph Howard sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $43.37, for a total value of $303,590.00. Following the completion of the transaction, the executive vice president now directly owns 46,490 shares in the company, valued at $2,016,271.30. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

A number of research analysts have recently commented on SNV shares. ValuEngine raised shares of Synovus Financial Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research downgraded shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Stephens reaffirmed a “buy” rating and set a $46.00 price objective on shares of Synovus Financial Corp. in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Synovus Financial Corp. from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $40.00 price objective on shares of Synovus Financial Corp. in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Synovus Financial Corp. has a consensus rating of “Hold” and a consensus target price of $43.30.

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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.

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

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