Barclays PLC Has $12.69 Million Stock Position in Synovus Financial Corp. (NYSE:SNV)

Barclays PLC lessened its position in Synovus Financial Corp. (NYSE:SNV - Free Report) by 72.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 247,801 shares of the bank's stock after selling 645,572 shares during the period. Barclays PLC owned approximately 0.17% of Synovus Financial worth $12,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keystone Financial Group Inc. acquired a new position in shares of Synovus Financial during the fourth quarter valued at approximately $37,000. Jones Financial Companies Lllp grew its holdings in Synovus Financial by 72.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank's stock worth $56,000 after acquiring an additional 461 shares during the period. V Square Quantitative Management LLC raised its position in Synovus Financial by 69.3% in the fourth 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 in the last quarter. Millstone Evans Group LLC acquired a new stake in Synovus Financial in the 4th quarter valued at about $59,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Synovus Financial by 36.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the bank's stock valued at $91,000 after purchasing an additional 473 shares in the last quarter. 83.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SNV. DA Davidson cut their price objective on Synovus Financial from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Royal Bank of Canada decreased their price target on Synovus Financial from $64.00 to $52.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Barclays reduced their price objective on shares of Synovus Financial from $66.00 to $60.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Raymond James lowered shares of Synovus Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Finally, Stephens lowered their price objective on shares of Synovus Financial from $52.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.17.

Synovus Financial Stock Performance

Synovus Financial stock traded down $0.33 during trading hours on Friday, hitting $42.99. The stock had a trading volume of 971,381 shares, compared to its average volume of 1,418,012. Synovus Financial Corp. has a fifty-two week low of $35.74 and a fifty-two week high of $59.92. The company has a market cap of $6.06 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.11 and a beta of 1.16. The company has a 50-day moving average of $45.38 and a two-hundred day moving average of $50.64. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37.

Synovus Financial (NYSE:SNV - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The bank reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.19. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The company had revenue of $573.24 million for the quarter, compared to the consensus estimate of $572.35 million. On average, equities research 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 was paid on Tuesday, April 1st. Investors of record on Thursday, March 20th were issued a dividend of $0.39 per share. This is an increase from Synovus Financial's previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.63%. The ex-dividend date was Thursday, March 20th. Synovus Financial's dividend payout ratio (DPR) is currently 43.70%.

About Synovus Financial

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.