Stieven Capital Advisors L.P. Sells 215,200 Shares of Synovus Financial Corp. (NYSE:SNV)

Stieven Capital Advisors L.P. reduced its holdings in Synovus Financial Corp. (NYSE:SNV - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 239,042 shares of the bank's stock after selling 215,200 shares during the quarter. Synovus Financial makes up about 2.2% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 20th largest holding. Stieven Capital Advisors L.P. owned about 0.17% of Synovus Financial worth $12,246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNV. V Square Quantitative Management LLC acquired a new position in Synovus Financial in the 3rd quarter valued at approximately $30,000. Keystone Financial Group Inc. acquired a new stake in shares of Synovus Financial during the fourth quarter worth $37,000. Quarry LP acquired a new stake in shares of Synovus Financial during the third quarter worth $41,000. Brooklyn Investment Group acquired a new stake in shares of Synovus Financial during the third quarter worth $56,000. Finally, Farther Finance Advisors LLC increased its position in shares of Synovus Financial by 474.9% during the third quarter. Farther Finance Advisors LLC now owns 1,466 shares of the bank's stock worth $65,000 after buying an additional 1,211 shares during the period. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial Stock Down 0.7 %

Shares of Synovus Financial stock traded down $0.39 during trading hours on Wednesday, reaching $55.29. The company's stock had a trading volume of 767,984 shares, compared to its average volume of 1,260,134. Synovus Financial Corp. has a one year low of $33.44 and a one year high of $59.92. The company has a market capitalization of $7.83 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.14 and a beta of 1.39. The stock's fifty day simple moving average is $53.78 and its two-hundred day simple moving average is $50.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 0.88.

Synovus Financial (NYSE:SNV - Get Free Report) last released 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. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The firm had revenue of $580.58 million for the quarter, compared to analyst estimates of $566.83 million. During the same period last year, the firm earned $0.80 earnings per share. The business's quarterly revenue was up 18.8% compared to the same quarter last year. On average, research analysts forecast that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 19th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Thursday, December 19th. Synovus Financial's payout ratio is currently 49.84%.

Analysts Set New Price Targets

SNV has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Synovus Financial in a research report on Tuesday, December 17th. They set a "buy" rating and a $76.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Synovus Financial from $60.50 to $62.00 and gave the stock an "overweight" rating in a research report 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 stock a "neutral" rating in a research report on Tuesday, November 26th. Barclays increased their price objective on shares of Synovus Financial from $56.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised their price target on shares of Synovus Financial from $51.00 to $55.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Synovus Financial currently has an average rating of "Moderate Buy" and a consensus target price of $58.44.

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.