Dynamic Technology Lab Private Ltd Takes $682,000 Position in Synovus Financial Corp. (NYSE:SNV)

Dynamic Technology Lab Private Ltd purchased a new position in Synovus Financial Corp. (NYSE:SNV - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,342 shares of the bank's stock, valued at approximately $682,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of Synovus Financial during the third quarter valued at approximately $30,000. UMB Bank n.a. boosted its holdings in shares of Synovus Financial by 87.2% in the third quarter. UMB Bank n.a. now owns 747 shares of the bank's stock valued at $33,000 after purchasing an additional 348 shares during the period. Innealta Capital LLC bought a new position in Synovus Financial in the second quarter worth approximately $43,000. Abich Financial Wealth Management LLC increased its holdings in Synovus Financial by 43.5% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,224 shares of the bank's stock worth $49,000 after purchasing an additional 371 shares during the period. Finally, Headlands Technologies LLC raised its position in 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 purchasing an additional 1,105 shares in the last quarter. 83.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SNV. The Goldman Sachs Group raised their price target on Synovus Financial from $52.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday. DA Davidson raised their target price on shares of Synovus Financial from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Citigroup set a $59.00 price target on shares of Synovus Financial in a research report on Friday, October 18th. Barclays lifted their price objective on shares of Synovus Financial from $56.00 to $64.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Finally, Raymond James upgraded shares of Synovus Financial from a "market perform" rating to an "outperform" rating and set a $49.00 target price for the company in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $53.94.

Synovus Financial Stock Performance

Shares of NYSE:SNV traded down $0.37 during trading on Friday, hitting $57.08. The stock had a trading volume of 349,497 shares, compared to its average volume of 1,393,787. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.42. Synovus Financial Corp. has a 12-month low of $30.52 and a 12-month high of $59.92. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The stock has a 50-day simple moving average of $50.09 and a two-hundred day simple moving average of $44.61.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. Synovus Financial had a net margin of 10.82% and a return on equity of 13.43%. The business had revenue of $564.72 million during the quarter, compared to analysts' expectations of $557.64 million. During the same period in the previous year, the business posted $0.84 EPS. The business's quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Synovus Financial Corp. will post 4.37 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th were issued a $0.38 dividend. The ex-dividend date was Thursday, September 19th. This represents a $1.52 annualized dividend and a dividend yield of 2.66%. Synovus Financial's dividend payout ratio (DPR) is presently 68.78%.

Synovus Financial Company 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.