Synovus Financial Corp. (SNV) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. grew its stake in Synovus Financial Corp. (NYSE:SNV) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 679,463 shares of the bank’s stock after purchasing an additional 43,670 shares during the period. Schwab Charles Investment Management Inc. owned about 0.57% of Synovus Financial worth $31,297,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Analysts LLC boosted its position in Synovus Financial by 10.3% during the 2nd quarter. Capital Analysts LLC now owns 20,248 shares of the bank’s stock worth $896,000 after buying an additional 1,893 shares during the period. 361 Capital LLC acquired a new stake in Synovus Financial during the 2nd quarter worth approximately $4,032,000. TD Asset Management Inc. boosted its position in Synovus Financial by 11.5% during the 2nd quarter. TD Asset Management Inc. now owns 31,135 shares of the bank’s stock worth $1,377,000 after buying an additional 3,200 shares during the period. Bank of Nova Scotia acquired a new stake in Synovus Financial during the 2nd quarter worth approximately $17,745,000. Finally, BlackRock Inc. boosted its position in Synovus Financial by 3.6% during the 2nd quarter. BlackRock Inc. now owns 10,607,093 shares of the bank’s stock worth $469,257,000 after buying an additional 370,743 shares during the period. Institutional investors own 77.83% of the company’s stock.
Several equities research analysts recently commented on SNV shares. BidaskClub downgraded shares of Synovus Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Stephens set a $46.00 target price on shares of Synovus Financial and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Robert W. Baird reiterated a “hold” rating and set a $40.00 target price on shares of Synovus Financial in a research report on Friday, August 25th. ValuEngine downgraded shares of Synovus Financial from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Zacks Investment Research upgraded shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $45.64.
Synovus Financial Corp. (NYSE:SNV) traded down $0.07 during trading on Monday, reaching $48.91. 543,700 shares of the company’s stock traded hands, compared to its average volume of 742,999. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.66. Synovus Financial Corp. has a 52-week low of $37.95 and a 52-week high of $51.09. The company has a market cap of $5,845.47, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 2.49 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 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $398.01 million during the quarter, compared to analyst estimates of $331.27 million. During the same quarter last year, the business earned $0.65 EPS. equities research analysts expect that Synovus Financial Corp. will post 2.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 21st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $0.60 annualized dividend and a yield of 1.23%. Synovus Financial’s payout ratio is 24.19%.
In other Synovus Financial news, EVP R Dallis Copeland, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $46.29, for a total transaction of $462,900.00. Following the completion of the transaction, the executive vice president now owns 43,488 shares in the company, valued at approximately $2,013,059.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Allen J. Gula sold 2,125 shares of Synovus Financial 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 completion of the sale, the chief operating officer now owns 72,561 shares of the company’s stock, valued at approximately $3,418,348.71. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
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Synovus Financial 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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