Synovus Financial Corp. (NYSE:SNV) Major Shareholder Eli Samaha Sells 6,803 Shares

Synovus Financial Corp. (NYSE:SNVGet Free Report) major shareholder Eli Samaha sold 6,803 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $25.22, for a total value of $171,571.66. Following the sale, the insider now directly owns 1,466,493 shares in the company, valued at approximately $36,984,953.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 stock was sold at an average price of $25.20, for a total value of $504.00.

Synovus Financial Price Performance

Shares of SNV stock opened at $37.47 on Friday. Synovus Financial Corp. has a 52-week low of $24.40 and a 52-week high of $40.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 5.06 and a beta of 1.41. The firm’s 50-day moving average is $38.10 and its 200-day moving average is $37.17.

Synovus Financial (NYSE:SNVGet Free Report) last issued its earnings results on Thursday, April 18th. The bank reported $0.79 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.20). Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. The business had revenue of $537.73 million for the quarter, compared to the consensus estimate of $547.62 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The business’s revenue was down 12.4% compared to the same quarter last year. Sell-side analysts predict that Synovus Financial Corp. will post 3.82 EPS for the current year.

Synovus Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Thursday, June 20th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Thursday, June 20th. Synovus Financial’s payout ratio is 52.05%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SNV. Allworth Financial LP grew its position in shares of Synovus Financial by 333.5% in the fourth quarter. Allworth Financial LP now owns 724 shares of the bank’s stock valued at $27,000 after purchasing an additional 557 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Synovus Financial in the 4th quarter valued at $28,000. MeadowBrook Investment Advisors LLC bought a new position in Synovus Financial during the 4th quarter worth $30,000. American National Bank bought a new stake in shares of Synovus Financial in the fourth quarter valued at about $38,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Synovus Financial in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 83.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Synovus Financial from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. The Goldman Sachs Group reduced their target price on shares of Synovus Financial from $46.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $38.00 price target (down previously from $46.00) on shares of Synovus Financial in a research note on Friday, April 19th. DA Davidson boosted their price target on Synovus Financial from $43.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Jefferies Financial Group decreased their price objective on Synovus Financial from $46.00 to $43.00 and set a “buy” rating for the company in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.50.

View Our Latest Report on SNV

About Synovus Financial

(Get 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 lending services.

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