Synovus Financial Corp. (NYSE:SNV) Shares Sold by LSV Asset Management

LSV Asset Management cut its position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 375,737 shares of the bank's stock after selling 23,100 shares during the quarter. LSV Asset Management owned 0.27% of Synovus Financial worth $19,249,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Synovus Financial during the 4th quarter worth about $77,209,000. FMR LLC grew its stake in Synovus Financial by 3.6% in the 4th quarter. FMR LLC now owns 12,041,625 shares of the bank's stock worth $616,892,000 after acquiring an additional 415,201 shares during the period. Prudential Financial Inc. raised its holdings in Synovus Financial by 349.4% in the 4th quarter. Prudential Financial Inc. now owns 529,147 shares of the bank's stock valued at $27,108,000 after acquiring an additional 411,411 shares during the last quarter. TruWealth Advisors LLC acquired a new stake in shares of Synovus Financial during the fourth quarter worth $12,350,000. Finally, Trexquant Investment LP grew its position in shares of Synovus Financial by 478.5% in the fourth quarter. Trexquant Investment LP now owns 270,732 shares of the bank's stock valued at $13,870,000 after purchasing an additional 223,929 shares during the period. Institutional investors and hedge funds own 83.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SNV shares. Wells Fargo & Company dropped their price objective on shares of Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley decreased their price target on shares of Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. boosted their price objective on shares of Synovus Financial from $60.50 to $62.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Stephens reiterated an "equal weight" rating and issued a $58.00 target price on shares of Synovus Financial in a report on Thursday, January 16th. Finally, Raymond James lowered Synovus Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.17.

Synovus Financial Stock Up 1.8 %

Shares of NYSE:SNV traded up $0.72 during midday trading on Friday, reaching $41.24. The company had a trading volume of 2,718,620 shares, compared to its average volume of 1,447,133. Synovus Financial Corp. has a one year low of $33.44 and a one year 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 $5.81 billion, a P/E ratio of 13.52, a PEG ratio of 1.11 and a beta of 1.16. The stock's fifty day moving average price is $46.96 and its 200-day moving average price is $50.68.

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

Synovus Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 20th were paid a dividend of $0.39 per share. This is a positive change from Synovus Financial's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.56 annualized dividend and a yield of 3.78%. Synovus Financial's dividend payout ratio is 51.15%.

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.