Synovus Financial Corp. (NYSE:SNV) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 3.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,992,614 shares of the bank's stock after buying an additional 147,599 shares during the period. Charles Schwab Investment Management Inc. owned 3.52% of Synovus Financial worth $222,022,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SNV. V Square Quantitative Management LLC purchased a new position in shares of Synovus Financial during the 3rd quarter worth $30,000. UMB Bank n.a. boosted 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 buying an additional 348 shares during the last quarter. Innealta Capital LLC purchased a new stake in Synovus Financial in the 2nd quarter valued at about $43,000. Abich Financial Wealth Management LLC increased its stake in shares of Synovus Financial by 43.5% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,224 shares of the bank's stock valued at $49,000 after acquiring an additional 371 shares during the last quarter. Finally, Headlands Technologies LLC increased its stake in shares of Synovus Financial by 404.8% during the 2nd quarter. Headlands Technologies LLC now owns 1,378 shares of the bank's stock valued at $55,000 after acquiring an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Synovus Financial from $49.00 to $57.00 and gave the stock an "outperform" rating in a research report on Friday, October 18th. DA Davidson increased their target price on Synovus Financial from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Evercore ISI lifted their target price on Synovus Financial from $48.00 to $54.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Truist Financial upped their price target on Synovus Financial from $52.00 to $57.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Synovus Financial from $52.00 to $59.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $52.71.

Synovus Financial Stock Up 2.9 %

Shares of NYSE:SNV traded up $1.60 during trading on Friday, hitting $57.62. The company's stock had a trading volume of 1,719,072 shares, compared to its average volume of 1,283,999. The company has a market capitalization of $8.16 billion, a PE ratio of 26.07, a PEG ratio of 2.08 and a beta of 1.37. Synovus Financial Corp. has a fifty-two week low of $29.34 and a fifty-two week high of $59.79. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.88 and a current ratio of 0.89. The stock's 50-day moving average price is $49.06 and its two-hundred day moving average price is $44.13.

Synovus Financial (NYSE:SNV - Get Free Report) last released its earnings results on Wednesday, October 16th. The bank reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. The company had revenue of $564.72 million during the quarter, compared to analysts' expectations of $557.64 million. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The business's revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. As a group, sell-side analysts expect that Synovus Financial Corp. will post 4.37 EPS for the current year.

Synovus Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th were paid a $0.38 dividend. The ex-dividend date was Thursday, September 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.64%. Synovus Financial's dividend payout ratio (DPR) is presently 68.78%.

Synovus Financial Profile

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.