Entropy Technologies LP Increases Stock Holdings in Synovus Financial Corp. (NYSE:SNV)

Entropy Technologies LP boosted its position in Synovus Financial Corp. (NYSE:SNV - Free Report) by 386.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,220 shares of the bank's stock after buying an additional 24,798 shares during the period. Entropy Technologies LP's holdings in Synovus Financial were worth $1,599,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in Synovus Financial by 7.6% in the third quarter. Thrivent Financial for Lutherans now owns 146,734 shares of the bank's stock valued at $6,525,000 after buying an additional 10,346 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Synovus Financial by 3.8% in the fourth quarter. Nordea Investment Management AB now owns 276,863 shares of the bank's stock valued at $14,261,000 after acquiring an additional 10,109 shares during the period. Quest Partners LLC acquired a new position in Synovus Financial in the third quarter valued at approximately $1,264,000. Quantinno Capital Management LP lifted its holdings in Synovus Financial by 25.1% in the third quarter. Quantinno Capital Management LP now owns 49,099 shares of the bank's stock valued at $2,183,000 after acquiring an additional 9,852 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Synovus Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,992,614 shares of the bank's stock valued at $222,022,000 after acquiring an additional 147,599 shares during the period. Hedge funds and other institutional investors own 83.85% of the company's stock.

Synovus Financial Price Performance

NYSE SNV traded up $0.29 during mid-day trading on Thursday, hitting $54.46. The stock had a trading volume of 841,489 shares, compared to its average volume of 1,294,858. The firm's 50 day moving average is $53.77 and its 200 day moving average is $49.91. Synovus Financial Corp. has a twelve month low of $33.44 and a twelve month high of $59.92. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.17 and a beta of 1.39.

Synovus Financial (NYSE:SNV - Get Free Report) last issued its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. The company had revenue of $580.58 million during the quarter, compared to analysts' expectations of $566.83 million. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The firm's quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. Equities research analysts forecast that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.79%. The ex-dividend date was Thursday, December 19th. Synovus Financial's payout ratio is currently 49.84%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNV. Citigroup boosted their price target on Synovus Financial from $59.00 to $62.00 and gave the company a "buy" rating in a report on Friday, January 17th. Evercore ISI boosted their price target on Synovus Financial from $48.00 to $54.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Synovus Financial from $60.50 to $62.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Stephens reaffirmed an "equal weight" rating and set a $58.00 target price on shares of Synovus Financial in a research note on Thursday, January 16th. Finally, Barclays upped their target price on Synovus Financial from $56.00 to $64.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Synovus Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.44.

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.