Synovus Financial Corp. (NYSE:SNV) is Stieven Capital Advisors L.P.'s 7th Largest Position

Stieven Capital Advisors L.P. lessened its holdings in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 454,242 shares of the bank's stock after selling 24,600 shares during the quarter. Synovus Financial comprises 3.8% of Stieven Capital Advisors L.P.'s investment portfolio, making the stock its 7th largest position. Stieven Capital Advisors L.P. owned about 0.32% of Synovus Financial worth $20,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SNV. V Square Quantitative Management LLC bought a new position in Synovus Financial in the third quarter valued at $30,000. UMB Bank n.a. increased its position 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 valued at $33,000 after purchasing an additional 348 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Synovus Financial during the 2nd quarter valued at about $43,000. Abich Financial Wealth Management LLC lifted its position in Synovus Financial by 43.5% in 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, Headlands Technologies LLC boosted its stake in Synovus Financial by 404.8% in the second quarter. Headlands Technologies LLC now owns 1,378 shares of the bank's stock worth $55,000 after buying an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 83.85% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on SNV shares. Truist Financial lifted their price target on shares of Synovus Financial from $52.00 to $57.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Stephens increased their target price on shares of Synovus Financial from $46.00 to $52.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Morgan Stanley boosted their price target on shares of Synovus Financial from $51.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. DA Davidson raised their price objective on Synovus Financial from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Finally, Evercore ISI boosted their target price on Synovus Financial from $48.00 to $54.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $52.71.

Synovus Financial Stock Up 0.1 %

Synovus Financial stock traded up $0.05 during trading hours on Friday, hitting $55.72. 1,035,733 shares of the stock traded hands, compared to its average volume of 1,503,546. Synovus Financial Corp. has a one year low of $29.34 and a one year high of $59.79. The firm's 50-day moving average price is $47.83 and its two-hundred day moving average price is $43.54. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42. The company has a market cap of $7.89 billion, a PE ratio of 25.21, a PEG ratio of 2.01 and a beta of 1.37.

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 the consensus estimate of $1.09 by $0.14. The company had revenue of $564.72 million for the quarter, compared to analyst estimates of $557.64 million. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The firm's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. On average, research analysts forecast that Synovus Financial Corp. will post 4.36 EPS for the current year.

Synovus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 19th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.52 annualized dividend and a dividend yield of 2.73%. Synovus Financial's payout ratio is 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.