BNP Paribas Financial Markets Purchases 53,140 Shares of Synovus Financial Corp. (NYSE:SNV)

BNP Paribas Financial Markets increased its position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 980.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,558 shares of the bank's stock after buying an additional 53,140 shares during the period. BNP Paribas Financial Markets' holdings in Synovus Financial were worth $2,604,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Synovus Financial in the 3rd quarter worth approximately $30,000. UMB Bank n.a. lifted its stake in Synovus Financial by 87.2% in the 3rd quarter. UMB Bank n.a. now owns 747 shares of the bank's stock worth $33,000 after acquiring an additional 348 shares in the last quarter. Innealta Capital LLC purchased a new position in Synovus Financial during the 2nd quarter valued at about $43,000. Headlands Technologies LLC increased its holdings in shares of Synovus Financial by 404.8% in the 2nd quarter. Headlands Technologies LLC now owns 1,378 shares of the bank's stock valued at $55,000 after purchasing an additional 1,105 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Synovus Financial in the 3rd quarter worth approximately $56,000. Institutional investors and hedge funds own 83.85% of the company's stock.

Synovus Financial Trading Up 0.6 %

Shares of SNV traded up $0.32 during mid-day trading on Friday, reaching $55.77. 1,142,976 shares of the company were exchanged, compared to its average volume of 1,012,947. The business has a 50 day simple moving average of $51.54 and a two-hundred day simple moving average of $45.28. Synovus Financial Corp. has a 52 week low of $33.44 and a 52 week high of $59.92. The stock has a market capitalization of $7.90 billion, a PE ratio of 25.24, a PEG ratio of 2.01 and a beta of 1.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.88 and a current ratio of 0.89.

Synovus Financial (NYSE:SNV - Get Free Report) last issued its earnings results on Wednesday, October 16th. The bank reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.14. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The company had revenue of $564.72 million for the quarter, compared to analyst estimates of $557.64 million. During the same period in the prior year, the firm earned $0.84 earnings per share. Synovus Financial's revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that Synovus Financial Corp. will post 4.37 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 19th. This represents a $1.52 annualized dividend and a dividend yield of 2.73%. Synovus Financial's dividend payout ratio is currently 68.78%.

Analyst Ratings Changes

A number of brokerages have recently commented on SNV. Morgan Stanley upped their price objective on shares of Synovus Financial from $51.00 to $55.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Citigroup set a $59.00 price objective on Synovus Financial in a research note on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Synovus Financial from $52.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. raised their target price on shares of Synovus Financial from $52.00 to $59.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Finally, Barclays raised their price target on Synovus Financial from $56.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.47.

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.