Synovus Financial Corp. (NYSE:SNV) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in Synovus Financial Corp. (NYSE:SNV - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 389,135 shares of the bank's stock after selling 12,903 shares during the period. Rhumbline Advisers owned about 0.27% of Synovus Financial worth $19,935,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SNV. Blue Trust Inc. lifted its position in shares of Synovus Financial by 781.4% during the 4th quarter. Blue Trust Inc. now owns 210,282 shares of the bank's stock valued at $10,773,000 after buying an additional 186,424 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Synovus Financial by 69.3% in the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank's stock worth $58,000 after buying an additional 466 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Synovus Financial during the fourth quarter valued at approximately $205,000. Savant Capital LLC lifted its position in shares of Synovus Financial by 2.7% in the fourth quarter. Savant Capital LLC now owns 11,923 shares of the bank's stock valued at $611,000 after acquiring an additional 314 shares in the last quarter. Finally, Entropy Technologies LP boosted its stake in shares of Synovus Financial by 386.1% in the fourth quarter. Entropy Technologies LP now owns 31,220 shares of the bank's stock worth $1,599,000 after acquiring an additional 24,798 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company's stock.

Analyst Upgrades and Downgrades

SNV has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Synovus Financial from $60.50 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. The Goldman Sachs Group increased their price objective on shares of Synovus Financial from $52.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Wells Fargo & Company upped their price target on Synovus Financial from $51.00 to $55.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 3rd. Barclays boosted their price objective on Synovus Financial from $56.00 to $64.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Finally, Citigroup upped their price objective on shares of Synovus Financial from $59.00 to $62.00 and gave the company a "buy" rating in a report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $58.44.

Synovus Financial Stock Down 4.2 %

Shares of SNV stock traded down $2.29 during trading hours on Friday, reaching $51.73. 1,415,421 shares of the stock were exchanged, compared to its average volume of 1,249,548. The business's fifty day moving average is $53.75 and its two-hundred day moving average is $50.24. The firm has a market capitalization of $7.33 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.14 and a beta of 1.39. Synovus Financial Corp. has a 12-month low of $33.44 and a 12-month 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.

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

Synovus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, December 19th. This represents a $1.52 annualized dividend and a dividend yield of 2.94%. Synovus Financial's dividend payout ratio is currently 49.84%.

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.