Synovus Financial Corp. (NYSE:SNV – Get Free Report) major shareholder Eli Samaha sold 172,889 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $25.20, for a total transaction of $4,356,802.80. Following the transaction, the insider now owns 1,293,259 shares of the company’s stock, valued at $32,590,126.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Eli Samaha also recently made the following trade(s):
- On Friday, June 7th, Eli Samaha sold 20 shares of Synovus Financial stock. The shares were sold at an average price of $25.20, for a total transaction of $504.00.
- On Wednesday, June 5th, Eli Samaha sold 6,803 shares of Synovus Financial stock. The shares were sold at an average price of $25.22, for a total transaction of $171,571.66.
Synovus Financial Price Performance
SNV stock opened at $36.34 on Wednesday. The firm’s 50-day moving average price is $37.99 and its two-hundred day moving average price is $37.37. Synovus Financial Corp. has a 12-month low of $24.40 and a 12-month high of $40.92. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 4.95 and a beta of 1.41. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.45.
Synovus Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Thursday, June 20th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Thursday, June 20th. Synovus Financial’s payout ratio is 52.05%.
Hedge Funds Weigh In On Synovus Financial
Hedge funds have recently modified their holdings of the company. Swiss National Bank increased its position in shares of Synovus Financial by 1.0% during the third quarter. Swiss National Bank now owns 321,219 shares of the bank’s stock valued at $8,930,000 after buying an additional 3,300 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Synovus Financial by 6.3% during the third quarter. Janney Montgomery Scott LLC now owns 47,655 shares of the bank’s stock valued at $1,325,000 after buying an additional 2,833 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Synovus Financial by 23.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 16,431 shares of the bank’s stock valued at $457,000 after buying an additional 3,119 shares during the period. Pathstone Family Office LLC increased its position in shares of Synovus Financial by 22.9% during the third quarter. Pathstone Family Office LLC now owns 11,271 shares of the bank’s stock valued at $313,000 after buying an additional 2,098 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Synovus Financial during the third quarter valued at about $380,000. Hedge funds and other institutional investors own 83.85% of the company’s stock.
Analyst Upgrades and Downgrades
SNV has been the subject of a number of research analyst reports. Piper Sandler dropped their price objective on shares of Synovus Financial from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Jefferies Financial Group dropped their price objective on shares of Synovus Financial from $46.00 to $43.00 and set a “buy” rating for the company in a report on Monday, April 8th. Bank of America dropped their price objective on shares of Synovus Financial from $44.00 to $40.00 and set a “buy” rating for the company in a report on Friday, April 19th. Barclays dropped their price objective on shares of Synovus Financial from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Finally, Raymond James downgraded shares of Synovus Financial from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.50.
Check Out Our Latest Stock Analysis on SNV
Synovus Financial Company Profile
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 lending services.
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