Two Sigma Investments LP Grows Holdings in Synovus Financial Corp. (NYSE:SNV)

Two Sigma Investments LP raised its stake in Synovus Financial Corp. (NYSE:SNV - Free Report) by 44.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,883 shares of the bank's stock after buying an additional 16,392 shares during the period. Two Sigma Investments LP's holdings in Synovus Financial were worth $2,709,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SNV. Colonial Trust Co SC grew its stake in shares of Synovus Financial by 554.4% in the 4th quarter. Colonial Trust Co SC now owns 589 shares of the bank's stock valued at $30,000 after buying an additional 499 shares during the period. Keystone Financial Group Inc. bought a new position in shares of Synovus Financial during the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp raised its holdings in shares of Synovus Financial by 72.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank's stock worth $56,000 after purchasing an additional 461 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Synovus Financial by 69.3% in the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank's stock worth $58,000 after purchasing an additional 466 shares during the period. Finally, Millstone Evans Group LLC purchased a new position in Synovus Financial in the 4th quarter valued at approximately $59,000. Institutional investors own 83.85% of the company's stock.

Synovus Financial Price Performance

Shares of NYSE SNV traded up $1.19 during trading on Tuesday, hitting $48.55. The company had a trading volume of 360,929 shares, compared to its average volume of 1,398,723. The stock has a fifty day simple moving average of $44.50 and a two-hundred day simple moving average of $49.90. Synovus Financial Corp. has a fifty-two week low of $35.81 and a fifty-two week high of $59.92. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37.

Synovus Financial (NYSE:SNV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.19. The firm had revenue of $573.24 million for the quarter, compared to analyst estimates of $572.35 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. On average, research analysts expect that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Analysts Set New Price Targets

SNV has been the subject of a number of recent analyst reports. DA Davidson reduced their price target on shares of Synovus Financial from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Royal Bank of Canada dropped their price objective on shares of Synovus Financial from $64.00 to $52.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Barclays dropped their price objective on shares of Synovus Financial from $66.00 to $60.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group initiated coverage on shares of Synovus Financial in a research note on Wednesday, May 21st. They issued a "hold" rating and a $55.00 price target for the company. Finally, Raymond James downgraded shares of Synovus Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Synovus Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.56.

About Synovus Financial

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.