Synovus Financial Corp. (NYSE:SNV) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. raised its holdings in Synovus Financial Corp. (NYSE:SNV - Free Report) by 83.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 23,858 shares of the bank's stock after acquiring an additional 10,866 shares during the period. Blue Trust Inc.'s holdings in Synovus Financial were worth $1,061,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNV. V Square Quantitative Management LLC acquired a new stake in shares of Synovus Financial during the 3rd quarter worth $30,000. UMB Bank n.a. increased its holdings in shares of Synovus Financial by 87.2% during the 3rd quarter. UMB Bank n.a. now owns 747 shares of the bank's stock worth $33,000 after buying an additional 348 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Synovus Financial during the 2nd quarter worth $43,000. Abich Financial Wealth Management LLC increased its holdings in shares of Synovus Financial by 43.5% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,224 shares of the bank's stock worth $49,000 after buying an additional 371 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Synovus Financial during the 1st quarter worth $51,000. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Thomas T. Dierdorff sold 614 shares of the firm's stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $46.20, for a total transaction of $28,366.80. Following the transaction, the executive vice president now owns 14,833 shares in the company, valued at $685,284.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.81% of the company's stock.

Synovus Financial Stock Performance

NYSE SNV traded down $1.67 during trading hours on Monday, reaching $48.88. The company's stock had a trading volume of 2,185,250 shares, compared to its average volume of 1,410,612. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.42. The business has a 50-day simple moving average of $44.49 and a 200 day simple moving average of $41.33. Synovus Financial Corp. has a 52 week low of $24.40 and a 52 week high of $51.69. The stock has a market cap of $7.04 billion, a PE ratio of 22.26, a PEG ratio of 2.36 and a beta of 1.38.

Synovus Financial (NYSE:SNV - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.14. The company had revenue of $564.72 million for the quarter, compared to analysts' expectations of $557.64 million. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Equities research analysts predict that Synovus Financial Corp. will post 4.04 earnings per share for the current fiscal year.

Synovus Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.11%. Synovus Financial's dividend payout ratio (DPR) is presently 68.78%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Synovus Financial from $52.00 to $59.00 and gave the stock an "overweight" rating in a research report on Friday. StockNews.com raised shares of Synovus Financial from a "sell" rating to a "hold" rating in a research report on Friday. Morgan Stanley upped their price objective on shares of Synovus Financial from $51.00 to $55.00 and gave the company an "equal weight" rating in a research report on Monday. Stephens upped their price objective on shares of Synovus Financial from $46.00 to $52.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Raymond James raised shares of Synovus Financial from a "market perform" rating to an "outperform" rating and set a $49.00 price objective for the company in a research report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $51.88.

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.