Today, Nordea Investment Management AB invests in 14,828 by buying Synovus Financial Corp. (SNV) shares

Today, Nordea Investment Management AB invests in 14,828 by buying Synovus Financial Corp. (SNV) shares
Nordea Investment Management AB increased its stake in shares of Synovus Financial Corp. (NYSE:SNV) by 70.0% during the third quarter, Holdings Channel reports. The firm owned 36,005 shares of the company’s stock after buying an additional 14,828 shares during the period. Nordea Investment Management AB’s holdings in Synovus Financial Corp. were worth $1,171,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in shares of Synovus Financial Corp. by 17.2% in the first quarter. Renaissance Technologies LLC now owns 633,200 shares of the company’s stock valued at $18,306,000 after buying an additional 92,900 shares during the period. A.R.T. Advisors LLC boosted its position in shares of Synovus Financial Corp. by 74.6% in the first quarter. A.R.T. Advisors LLC now owns 24,103 shares of the company’s stock valued at $696,000 after buying an additional 10,300 shares during the period. Seven Eight Capital LLC boosted its position in shares of Synovus Financial Corp. by 176.1% in the first quarter. Seven Eight Capital LLC now owns 19,600 shares of the company’s stock valued at $567,000 after buying an additional 12,500 shares during the period. Royal Bank of Canada boosted its position in shares of Synovus Financial Corp. by 28.3% in the first quarter. Royal Bank of Canada now owns 911,171 shares of the company’s stock valued at $26,342,000 after buying an additional 201,008 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Synovus Financial Corp. by 319.5% in the first quarter. Squarepoint Ops LLC now owns 38,577 shares of the company’s stock valued at $1,116,000 after buying an additional 29,380 shares during the period. Institutional investors own 78.70% of the company’s stock.

Shares of Synovus Financial Corp. (NYSE:SNV) traded up 0.23% during midday trading on Friday, reaching $39.22. The company’s stock had a trading volume of 289,436 shares. The company has a market cap of $4.80 billion, a PE ratio of 22.05 and a beta of 1.31. Synovus Financial Corp. has a 12 month low of $25.48 and a 12 month high of $39.25. The company’s 50-day moving average price is $34.63 and its 200-day moving average price is $32.03.

Synovus Financial Corp. (NYSE:SNV) last released its quarterly earnings results on Tuesday, October 18th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. Synovus Financial Corp. had a return on equity of 8.68% and a net margin of 18.68%. During the same quarter in the previous year, the business posted $0.42 EPS. On average, equities analysts anticipate that Synovus Financial Corp. will post $1.89 EPS for the current fiscal year.

Several equities analysts recently commented on SNV shares. Hovde Group boosted their target price on Synovus Financial Corp. from $34.00 to $35.50 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Wells Fargo & Co. cut Synovus Financial Corp. from a “market perform” rating to an “underperform” rating in a research report on Tuesday, August 23rd. Zacks Investment Research upgraded Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, September 20th. upgraded Synovus Financial Corp. from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $33.00 in a research report on Friday, September 23rd. Finally, Compass Point cut Synovus Financial Corp. from a “buy” rating to a “neutral” rating in a research report on Friday, November 18th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Synovus Financial Corp. presently has an average rating of “Hold” and an average price target of $32.29.

In related news, EVP Curtis J. Perry sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $33.66, for a total value of $269,280.00. Following the transaction, the executive vice president now directly owns 57,125 shares of the company’s stock, valued at approximately $1,922,827.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mark G. Holladay sold 6,035 shares of the firm’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $33.28, for a total value of $200,844.80. Following the completion of the transaction, the vice president now directly owns 53,967 shares in the company, valued at $1,796,021.76. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Synovus Financial Corp. Company Profile

Synovus Financial Corp. is a financial services 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 over 30 locally branded banking divisions of its subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.

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