Synovus Financial Corp. (NYSE:SNV) Shares Sold by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV lessened its position in shares of Synovus Financial Corp. (NYSE:SNVFree Report) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,545 shares of the bank’s stock after selling 403 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Synovus Financial were worth $656,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of Montreal Can bought a new position in Synovus Financial during the 2nd quarter worth approximately $673,000. Barclays PLC increased its position in shares of Synovus Financial by 17.6% during the 3rd quarter. Barclays PLC now owns 437,126 shares of the bank’s stock valued at $12,151,000 after purchasing an additional 65,434 shares during the period. Comerica Bank acquired a new position in shares of Synovus Financial during the 2nd quarter valued at $2,973,000. National Bank of Canada FI acquired a new position in shares of Synovus Financial during the 3rd quarter valued at $4,637,000. Finally, Quantbot Technologies LP boosted its stake in shares of Synovus Financial by 352.0% during the 3rd quarter. Quantbot Technologies LP now owns 88,386 shares of the bank’s stock worth $2,457,000 after acquiring an additional 68,833 shares in the last quarter. Institutional investors own 79.92% of the company’s stock.

Insider Buying and Selling at Synovus Financial

In other news, EVP Allan E. Kamensky sold 19,301 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $35.01, for a total value of $675,728.01. Following the transaction, the executive vice president now directly owns 66,783 shares of the company’s stock, valued at approximately $2,338,072.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Allan E. Kamensky sold 19,301 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $35.01, for a total value of $675,728.01. Following the completion of the transaction, the executive vice president now directly owns 66,783 shares of the company’s stock, valued at approximately $2,338,072.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas T. Dierdorff sold 2,045 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $38.23, for a total transaction of $78,180.35. Following the completion of the transaction, the executive vice president now directly owns 11,086 shares of the company’s stock, valued at $423,817.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,017 shares of company stock valued at $934,302. 1.60% of the stock is currently owned by corporate insiders.

Synovus Financial Stock Performance

Shares of Synovus Financial stock traded up $1.10 during trading on Monday, reaching $37.07. The company’s stock had a trading volume of 1,480,745 shares, compared to its average volume of 1,547,785. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.89 and a current ratio of 0.89. The business’s fifty day moving average price is $36.96 and its 200-day moving average price is $32.07. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 10.76 and a beta of 1.42. Synovus Financial Corp. has a one year low of $24.40 and a one year high of $43.94.

Synovus Financial (NYSE:SNVGet Free Report) last released its earnings results on Wednesday, January 17th. The bank reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.14). Synovus Financial had a return on equity of 14.95% and a net margin of 15.74%. The firm had revenue of $488.68 million for the quarter, compared to analyst estimates of $527.60 million. As a group, equities research analysts predict that Synovus Financial Corp. will post 4.04 earnings per share for the current year.

Synovus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 21st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Wednesday, December 20th. Synovus Financial’s payout ratio is 43.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial raised their price objective on Synovus Financial from $38.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Morgan Stanley raised their price objective on Synovus Financial from $29.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. StockNews.com raised Synovus Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Stephens initiated coverage on Synovus Financial in a research report on Tuesday, December 19th. They issued an “equal weight” rating and a $40.00 target price for the company. Finally, Evercore ISI reaffirmed an “inline” rating and issued a $40.00 target price on shares of Synovus Financial in a research report on Wednesday, January 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.80.

Check Out Our Latest Stock Report on SNV

Synovus Financial Company Profile

(Free Report)

Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and consumer banking products and services. It operates through four segments: Community Banking, Wholesale Banking, Consumer Banking, and Financial Management Services. The company's commercial banking services include treasury and asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.

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

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