Janus Henderson Group PLC grew its holdings in Synovus Financial Corp. (NYSE:SNV) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,820 shares of the bank’s stock after buying an additional 2,200 shares during the quarter. Janus Henderson Group PLC’s holdings in Synovus Financial were worth $2,949,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Synovus Financial by 11.3% during the 2nd quarter. BlackRock Inc. now owns 11,945,202 shares of the bank’s stock worth $631,066,000 after purchasing an additional 1,210,436 shares in the last quarter. Millennium Management LLC increased its position in shares of Synovus Financial by 70.6% during the 1st quarter. Millennium Management LLC now owns 3,589,308 shares of the bank’s stock worth $179,250,000 after purchasing an additional 1,485,871 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Synovus Financial by 6.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 3,515,849 shares of the bank’s stock worth $185,742,000 after purchasing an additional 208,640 shares in the last quarter. Carillon Tower Advisers Inc. increased its position in shares of Synovus Financial by 52.3% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 2,597,887 shares of the bank’s stock worth $132,245,000 after purchasing an additional 891,789 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Synovus Financial by 101.1% during the 2nd quarter. First Trust Advisors LP now owns 1,057,997 shares of the bank’s stock worth $55,894,000 after purchasing an additional 531,793 shares in the last quarter. Institutional investors own 81.01% of the company’s stock.

SNV has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Synovus Financial from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Wednesday, July 18th. Stephens cut shares of Synovus Financial from an “overweight” rating to an “equal” rating and set a $31.00 target price for the company. in a research report on Tuesday, July 24th. Barclays dropped their target price on shares of Synovus Financial from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 3rd. Morgan Stanley dropped their target price on shares of Synovus Financial from $57.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 31st. Finally, Wells Fargo & Co set a $51.00 target price on shares of Synovus Financial and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Synovus Financial currently has an average rating of “Hold” and an average price target of $51.58.

NYSE:SNV traded down $0.70 during mid-day trading on Friday, reaching $42.86. 2,295,245 shares of the company were exchanged, compared to its average volume of 1,075,656. Synovus Financial Corp. has a 12 month low of $41.90 and a 12 month high of $57.40. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.58. The firm has a market cap of $5.37 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.58 and a beta of 0.96.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings data on Tuesday, July 24th. The bank reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Synovus Financial had a net margin of 21.47% and a return on equity of 13.61%. The firm had revenue of $359.30 million for the quarter, compared to analyst estimates of $356.60 million. During the same quarter in the prior year, the firm earned $0.61 EPS. The company’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts predict that Synovus Financial Corp. will post 3.63 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Thursday, September 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Wednesday, September 19th. Synovus Financial’s dividend payout ratio is currently 39.53%.

In other Synovus Financial news, EVP Allan E. Kamensky bought 1,000 shares of Synovus Financial stock in a transaction dated Friday, July 27th. The shares were bought at an average price of $50.06 per share, with a total value of $50,060.00. Following the purchase, the executive vice president now owns 66,166 shares of the company’s stock, valued at $3,312,269.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Diana M. Murphy bought 2,000 shares of Synovus Financial stock in a transaction dated Friday, July 27th. The stock was acquired at an average cost of $49.68 per share, for a total transaction of $99,360.00. Following the purchase, the director now directly owns 6,347 shares in the company, valued at approximately $315,318.96. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 4,310 shares of company stock worth $214,173. Insiders own 1.50% of the company’s stock.

Synovus Financial Company Profile

Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides various financial products and services. It offers integrated financial services, including commercial and retail banking, financial management, insurance, and mortgage services. The company's commercial banking services comprise cash management, asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate loans.

Further Reading: Penny Stocks, What You Need To Know

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

Receive News & Ratings for Synovus Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial and related companies with MarketBeat.com's FREE daily email newsletter.