Hancock Whitney Corp Boosts Stock Position in Synovus Financial Corp. (NYSE:SNV)

Hancock Whitney Corp lifted its holdings in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 8.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,663 shares of the bank's stock after acquiring an additional 6,348 shares during the quarter. Hancock Whitney Corp owned approximately 0.06% of Synovus Financial worth $4,286,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in Synovus Financial in the 3rd quarter valued at $217,000. Franklin Resources Inc. boosted its stake in shares of Synovus Financial by 4.0% in the third quarter. Franklin Resources Inc. now owns 22,964 shares of the bank's stock valued at $1,069,000 after buying an additional 885 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Synovus Financial during the third quarter worth approximately $753,000. Nordea Investment Management AB increased its stake in Synovus Financial by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 276,863 shares of the bank's stock worth $14,261,000 after acquiring an additional 10,109 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in Synovus Financial by 2.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 14,800 shares of the bank's stock valued at $758,000 after acquiring an additional 302 shares in the last quarter. 83.85% of the stock is owned by institutional investors and hedge funds.

Synovus Financial Stock Up 1.0 %

Synovus Financial stock traded up $0.44 during midday trading on Monday, reaching $43.50. The stock had a trading volume of 772,810 shares, compared to its average volume of 1,417,430. The company has a fifty day moving average price of $45.38 and a two-hundred day moving average price of $50.73. The company has a market capitalization of $6.13 billion, a P/E ratio of 14.26, a PEG ratio of 1.11 and a beta of 1.16. 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 12 month low of $35.74 and a 12 month high of $59.92.

Synovus Financial (NYSE:SNV - Get Free Report) last issued its earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.19. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The company had revenue of $573.24 million for the quarter, compared to analysts' expectations of $572.35 million. As a group, equities analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th were paid a $0.39 dividend. The ex-dividend date was Thursday, March 20th. This is an increase from Synovus Financial's previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.59%. Synovus Financial's dividend payout ratio is 43.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SNV shares. Barclays reduced their price objective on shares of Synovus Financial from $66.00 to $60.00 and set an "overweight" rating on the stock in a research note 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 for the company in a research report on Monday, April 21st. Raymond James lowered Synovus Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Royal Bank of Canada decreased their target price on Synovus Financial from $64.00 to $52.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Finally, Citigroup raised their price target on shares of Synovus Financial from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average 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.