Natixis Advisors LLC Sells 7,138 Shares of Synovus Financial Corp. (NYSE:SNV)

Natixis Advisors LLC lowered its stake in Synovus Financial Corp. (NYSE:SNV - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 33,099 shares of the bank's stock after selling 7,138 shares during the period. Natixis Advisors LLC's holdings in Synovus Financial were worth $1,696,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Montgomery Investment Management Inc. increased its holdings in shares of Synovus Financial by 0.6% during the fourth quarter. Montgomery Investment Management Inc. now owns 42,493 shares of the bank's stock worth $2,177,000 after purchasing an additional 235 shares during the period. Sound View Wealth Advisors Group LLC lifted its position in shares of Synovus Financial by 3.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 7,941 shares of the bank's stock valued at $407,000 after acquiring an additional 241 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of Synovus Financial by 0.3% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 103,480 shares of the bank's stock worth $5,301,000 after purchasing an additional 270 shares during the period. Wedmont Private Capital increased its position in shares of Synovus Financial by 3.3% in the fourth quarter. Wedmont Private Capital now owns 9,401 shares of the bank's stock worth $479,000 after purchasing an additional 299 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in Synovus Financial by 2.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 14,800 shares of the bank's stock worth $758,000 after purchasing an additional 302 shares during the period. 83.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SNV shares. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 target price on shares of Synovus Financial in a report on Thursday, December 12th. Morgan Stanley lowered their target price on shares of Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Citigroup increased their price target on Synovus Financial from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Synovus Financial in a research note on Monday, December 9th. They issued a "buy" rating and a $64.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on Synovus Financial from $51.00 to $55.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.67.

Synovus Financial Stock Performance

NYSE SNV traded down $1.28 on Friday, hitting $46.12. 1,659,876 shares of the stock traded hands, compared to its average volume of 1,397,079. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.11 and a beta of 1.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 0.88. The business's fifty day moving average is $51.73 and its two-hundred day moving average is $51.04. Synovus Financial Corp. has a 12 month low of $33.44 and a 12 month high of $59.92.

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 analysts' consensus estimates of $1.16 by $0.09. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The business had revenue of $580.58 million for the quarter, compared to analysts' expectations of $566.83 million. During the same quarter in the previous year, the firm posted $0.80 EPS. The business's revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, equities analysts anticipate that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 20th will be paid a $0.39 dividend. The ex-dividend date is Thursday, March 20th. This represents a $1.56 annualized dividend and a yield of 3.38%. This is an increase from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's dividend payout ratio (DPR) is currently 51.15%.

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.