Thrivent Financial For Lutherans Has $34.12 Million Stake in Synovus Financial Corp. (SNV)

Thrivent Financial For Lutherans boosted its position in shares of Synovus Financial Corp. (NYSE:SNV) by 5.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 831,680 shares of the bank’s stock after buying an additional 45,430 shares during the period. Thrivent Financial For Lutherans’ holdings in Synovus Financial Corp. were worth $34,116,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. World Asset Management Inc raised its stake in Synovus Financial Corp. by 0.8% in the first quarter. World Asset Management Inc now owns 7,570 shares of the bank’s stock valued at $311,000 after buying an additional 60 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in Synovus Financial Corp. by 1.5% in the fourth quarter. First Allied Advisory Services Inc. now owns 7,231 shares of the bank’s stock valued at $297,000 after buying an additional 106 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Synovus Financial Corp. by 10.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,232 shares of the bank’s stock valued at $132,000 after buying an additional 297 shares during the last quarter. Capstone Asset Management Co. raised its stake in Synovus Financial Corp. by 4.6% in the first quarter. Capstone Asset Management Co. now owns 8,940 shares of the bank’s stock valued at $367,000 after buying an additional 390 shares during the last quarter. Finally, Advantus Capital Management Inc raised its stake in Synovus Financial Corp. by 3.0% in the first quarter. Advantus Capital Management Inc now owns 15,659 shares of the bank’s stock valued at $642,000 after buying an additional 460 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

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

Shares of Synovus Financial Corp. (NYSE SNV) traded up 0.46% during midday trading on Wednesday, hitting $41.09. The company had a trading volume of 676,929 shares. Synovus Financial Corp. has a 12 month low of $26.90 and a 12 month high of $44.09. The company has a market capitalization of $5.03 billion, a PE ratio of 19.93 and a beta of 1.25. The company has a 50-day moving average of $41.87 and a 200-day moving average of $41.37.

Synovus Financial Corp. (NYSE:SNV) last released its quarterly earnings data on Tuesday, April 18th. The bank reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Synovus Financial Corp. had a return on equity of 8.94% and a net margin of 19.04%. The firm had revenue of $311.77 million for the quarter, compared to analysts’ expectations of $303.05 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts predict that Synovus Financial Corp. will post $2.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, June 13th. Synovus Financial Corp.’s dividend payout ratio is presently 25.26%.

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SNV has been the subject of several analyst reports. Zacks Investment Research raised Synovus Financial Corp. from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Thursday, April 20th. Evercore ISI lowered Synovus Financial Corp. to a “buy” rating in a research note on Friday, March 3rd. Bank of America Corp raised Synovus Financial Corp. from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Thursday, May 11th. Barclays PLC reaffirmed an “equal weight” rating and issued a $44.00 price objective (up from $42.00) on shares of Synovus Financial Corp. in a research note on Saturday, April 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Synovus Financial Corp. in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.81.

In related news, EVP Jeffrey Barton Singleton sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $41.96, for a total value of $440,580.00. Following the transaction, the executive vice president now directly owns 58,781 shares in the company, valued at $2,466,450.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP D Wayne Akins, Jr. sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $42.96, for a total value of $150,360.00. Following the completion of the transaction, the executive vice president now owns 34,994 shares in the company, valued at $1,503,342.24. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Synovus Financial Corp. Company Profile

Synovus Financial Corp. is a financial services company 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 locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SNV”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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