Oddo BHF Asset Management Sas Acquires New Shares in Synovus Financial Corp. (NYSE:SNV)

Oddo BHF Asset Management Sas acquired a new stake in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 16,929 shares of the bank's stock, valued at approximately $753,000.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Synovus Financial by 6.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,754 shares of the bank's stock worth $167,000 after acquiring an additional 229 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Synovus Financial by 7.0% in the 2nd quarter. Fifth Third Bancorp now owns 3,760 shares of the bank's stock worth $151,000 after buying an additional 245 shares during the last quarter. Dana Investment Advisors Inc. increased its position in Synovus Financial by 0.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 35,759 shares of the bank's stock valued at $1,437,000 after buying an additional 254 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in Synovus Financial by 2.6% during the second quarter. Hanseatic Management Services Inc. now owns 11,885 shares of the bank's stock valued at $478,000 after buying an additional 303 shares during the last quarter. Finally, Wedmont Private Capital boosted its holdings in Synovus Financial by 3.8% in the third quarter. Wedmont Private Capital now owns 9,102 shares of the bank's stock worth $394,000 after acquiring an additional 335 shares in the last quarter. 83.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SNV. The Goldman Sachs Group upped their price target on shares of Synovus Financial from $52.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Raymond James raised Synovus Financial from a "market perform" rating to an "outperform" rating and set a $49.00 target price for the company in a report on Tuesday, September 17th. Stephens upped their price target on Synovus Financial from $46.00 to $52.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Wells Fargo & Company boosted their target price on Synovus Financial from $51.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI raised their price target on shares of Synovus Financial from $48.00 to $54.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Synovus Financial currently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

Synovus Financial Stock Performance

Shares of NYSE:SNV traded down $0.53 during mid-day trading on Friday, reaching $54.16. 1,128,212 shares of the company traded hands, compared to its average volume of 1,099,247. Synovus Financial Corp. has a 52 week low of $33.44 and a 52 week high of $59.92. The firm has a market cap of $7.67 billion, a PE ratio of 24.51, a PEG ratio of 1.58 and a beta of 1.38. The company's 50 day moving average price is $52.71 and its 200-day moving average price is $45.87. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.89 and a quick ratio of 0.88.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. The firm had revenue of $564.72 million for the quarter, compared to the consensus estimate of $557.64 million. Synovus Financial had a net margin of 10.82% and a return on equity of 13.43%. The company's revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. On average, equities analysts expect that Synovus Financial Corp. will post 4.37 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 19th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, December 19th. Synovus Financial's dividend payout ratio is currently 68.78%.

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.