Synovus Financial Corp. (NYSE:SNV) Shares Sold by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. lessened its position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 36.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,235 shares of the bank's stock after selling 5,761 shares during the period. Jamison Private Wealth Management Inc.'s holdings in Synovus Financial were worth $524,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SNV. Blair William & Co. IL purchased a new stake in Synovus Financial during the 2nd quarter worth about $236,000. Hsbc Holdings PLC increased its position in shares of Synovus Financial by 27.4% during the second quarter. Hsbc Holdings PLC now owns 12,018 shares of the bank's stock worth $480,000 after purchasing an additional 2,586 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Synovus Financial by 93.4% in the 2nd quarter. ProShare Advisors LLC now owns 13,810 shares of the bank's stock valued at $555,000 after purchasing an additional 6,671 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Synovus Financial by 35.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,779 shares of the bank's stock valued at $274,000 after purchasing an additional 1,773 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Synovus Financial by 181.0% in the 2nd quarter. Millennium Management LLC now owns 1,302,379 shares of the bank's stock valued at $52,343,000 after purchasing an additional 838,932 shares during the period. 83.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNV. Wells Fargo & Company boosted their price objective on Synovus Financial from $51.00 to $55.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price target on shares of Synovus Financial from $60.50 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Barclays raised their price objective on shares of Synovus Financial from $56.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 target price on shares of Synovus Financial in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Synovus Financial in a research report on Monday, December 9th. They issued a "buy" rating and a $64.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.44.

Synovus Financial Trading Up 0.2 %

Shares of SNV stock traded up $0.11 during trading hours on Friday, hitting $55.28. 1,133,928 shares of the company were exchanged, compared to its average volume of 1,086,074. Synovus Financial Corp. has a 1 year low of $33.44 and a 1 year high of $59.92. The firm has a fifty day moving average of $54.04 and a 200 day moving average of $48.89. The firm has a market cap of $7.83 billion, a PE ratio of 18.13, a PEG ratio of 1.14 and a beta of 1.39. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37.

Synovus Financial (NYSE:SNV - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. The firm had revenue of $580.58 million for the quarter, compared to analyst estimates of $566.83 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. Synovus Financial's revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. Analysts expect that Synovus Financial Corp. will post 4.86 earnings per share for the current year.

Synovus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, December 19th. This represents a $1.52 annualized dividend and a yield of 2.75%. Synovus Financial's dividend payout ratio is presently 49.84%.

About Synovus Financial

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.