Natixis Advisors LLC Lowers Stake in Synovus Financial Corp. (NYSE:SNV)

Natixis Advisors LLC lowered its position in Synovus Financial Corp. (NYSE:SNV - Free Report) by 17.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,099 shares of the bank's stock after selling 7,138 shares during the quarter. Natixis Advisors LLC's holdings in Synovus Financial were worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Keystone Financial Group Inc. acquired a new position in shares of Synovus Financial in the 4th quarter worth approximately $37,000. Quarry LP bought a new position in Synovus Financial during the third quarter worth $41,000. Brooklyn Investment Group acquired a new position in Synovus Financial in the third quarter valued at $56,000. Jones Financial Companies Lllp boosted its position in Synovus Financial by 72.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank's stock valued at $56,000 after acquiring an additional 461 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in Synovus Financial by 69.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank's stock worth $58,000 after acquiring an additional 466 shares during the period. Institutional investors own 83.85% of the company's stock.

Synovus Financial Stock Performance

Shares of NYSE:SNV traded down $0.34 during midday trading on Tuesday, reaching $48.66. The company had a trading volume of 1,321,071 shares, compared to its average volume of 1,343,052. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market cap of $6.86 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.11 and a beta of 1.36. Synovus Financial Corp. has a 52-week low of $33.44 and a 52-week high of $59.92. The company's 50 day moving average price is $52.12 and its 200 day moving average price is $51.04.

Remove Ads

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

Synovus Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.21%. This is an increase from Synovus Financial's previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 20th. Synovus Financial's dividend payout ratio is presently 51.15%.

Analyst Upgrades and Downgrades

SNV has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Synovus Financial from $51.00 to $55.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 3rd. Morgan Stanley decreased their target price on Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. The Goldman Sachs Group increased their price target on Synovus Financial from $52.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Stephens restated an "equal weight" rating and set a $58.00 price objective on shares of Synovus Financial in a report on Thursday, January 16th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $64.00 target price on shares of Synovus Financial in a report on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.67.

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.