Dimensional Fund Advisors LP Has $251.15 Million Stock Holdings in Synovus Financial Corp. (NYSE:SNV)

Dimensional Fund Advisors LP lessened its position in Synovus Financial Corp. (NYSE:SNV - Free Report) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,902,436 shares of the bank's stock after selling 397,206 shares during the period. Dimensional Fund Advisors LP owned approximately 3.46% of Synovus Financial worth $251,153,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its stake in Synovus Financial by 3.6% in the fourth quarter. FMR LLC now owns 12,041,625 shares of the bank's stock valued at $616,892,000 after buying an additional 415,201 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Synovus Financial by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,109,856 shares of the bank's stock worth $261,778,000 after acquiring an additional 117,242 shares during the period. First Trust Advisors LP boosted its stake in Synovus Financial by 4.5% in the 4th quarter. First Trust Advisors LP now owns 1,827,247 shares of the bank's stock worth $93,610,000 after purchasing an additional 77,876 shares during the period. Norges Bank bought a new position in Synovus Financial during the 4th quarter worth about $77,209,000. Finally, Prudential Financial Inc. increased its holdings in Synovus Financial by 349.4% during the 4th quarter. Prudential Financial Inc. now owns 529,147 shares of the bank's stock worth $27,108,000 after purchasing an additional 411,411 shares in the last quarter. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial Stock Performance

NYSE:SNV traded down $0.33 on Friday, hitting $42.99. The company's stock had a trading volume of 971,381 shares, compared to its average volume of 1,417,355. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Synovus Financial Corp. has a one year low of $35.74 and a one year high of $59.92. The stock has a fifty day moving average of $45.64 and a two-hundred day moving average of $50.64. The firm has a market capitalization of $6.06 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.11 and a beta of 1.16.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.19. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The business had revenue of $573.24 million during the quarter, compared to the consensus estimate of $572.35 million. Research analysts predict that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 20th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a yield of 3.63%. This is a positive change from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's dividend payout ratio is 43.70%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. DA Davidson reduced their price objective on Synovus Financial from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Monday. Barclays reduced their price target on Synovus Financial from $66.00 to $60.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price objective on shares of Synovus Financial from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday. Stephens reduced their target price on shares of Synovus Financial from $52.00 to $46.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Royal Bank of Canada decreased their target price on shares of Synovus Financial from $64.00 to $52.00 and set an "outperform" rating for the company in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Synovus Financial presently has a consensus rating of "Moderate Buy" and an average price target of $56.17.

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.