Tower Research Capital LLC TRC Purchases 17,191 Shares of Synovus Financial Corp. (NYSE:SNV)

Tower Research Capital LLC TRC increased its stake in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 676.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,731 shares of the bank's stock after acquiring an additional 17,191 shares during the period. Tower Research Capital LLC TRC's holdings in Synovus Financial were worth $1,011,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Keystone Financial Group Inc. acquired a new stake in shares of Synovus Financial in the fourth quarter worth $37,000. Jones Financial Companies Lllp grew its position in Synovus Financial by 72.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank's stock worth $56,000 after purchasing an additional 461 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Synovus Financial by 69.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank's stock worth $58,000 after purchasing an additional 466 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Synovus Financial during the fourth quarter valued at about $59,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Synovus Financial by 36.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the bank's stock valued at $91,000 after buying an additional 473 shares during the period. 83.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on SNV shares. Royal Bank of Canada cut their price target on Synovus Financial from $64.00 to $52.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Stephens decreased their price target on shares of Synovus Financial from $52.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Citigroup boosted their price target 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. Wells Fargo & Company decreased their target price on shares of Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, Barclays dropped their price target on shares of Synovus Financial from $66.00 to $60.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Synovus Financial currently has an average rating of "Moderate Buy" and an average price target of $56.17.

Synovus Financial Trading Up 0.4 %

NYSE SNV traded up $0.17 during trading hours on Tuesday, hitting $43.68. The company's stock had a trading volume of 479,020 shares, compared to its average volume of 1,414,049. The stock has a fifty day moving average of $45.15 and a 200 day moving average of $50.72. 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 Corp. has a twelve month low of $35.74 and a twelve month high of $59.92. The firm has a market capitalization of $6.16 billion, a P/E ratio of 14.35, a PEG ratio of 1.11 and a beta of 1.16.

Synovus Financial (NYSE:SNV - Get Free Report) last posted its earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.19. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The company had revenue of $573.24 million for the quarter, compared to analyst estimates of $572.35 million. Equities research analysts forecast that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 20th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This is a positive change from Synovus Financial's previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.57%. Synovus Financial's payout ratio is currently 43.70%.

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.