Vest Financial LLC Buys 15,477 Shares of Synovus Financial Corp. (NYSE:SNV)

Vest Financial LLC lifted its stake in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 46.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,818 shares of the bank's stock after buying an additional 15,477 shares during the period. Vest Financial LLC's holdings in Synovus Financial were worth $2,501,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Synovus Financial by 6.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,754 shares of the bank's stock valued at $167,000 after buying an additional 229 shares in the last quarter. Montgomery Investment Management Inc. lifted its stake in Synovus Financial by 0.6% in the 4th quarter. Montgomery Investment Management Inc. now owns 42,493 shares of the bank's stock valued at $2,177,000 after buying an additional 235 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Synovus Financial by 0.3% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 103,480 shares of the bank's stock valued at $5,301,000 after buying an additional 270 shares in the last quarter. Wedmont Private Capital lifted its stake in Synovus Financial by 3.3% in the 4th quarter. Wedmont Private Capital now owns 9,401 shares of the bank's stock valued at $479,000 after buying an additional 299 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Synovus Financial by 2.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 14,800 shares of the bank's stock valued at $758,000 after buying an additional 302 shares in the last quarter. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial Trading Down 2.9 %

Synovus Financial stock traded down $1.59 during midday trading on Wednesday, reaching $54.17. The stock had a trading volume of 1,129,411 shares, compared to its average volume of 1,311,050. The firm's fifty day simple moving average is $53.79 and its two-hundred day simple moving average is $49.87. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.17 and a beta of 1.39. Synovus Financial Corp. has a twelve month low of $33.44 and a twelve 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 issued its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.09. The company had revenue of $580.58 million during 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 for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. Equities analysts anticipate that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, December 19th. Synovus Financial's dividend payout ratio (DPR) is currently 49.84%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNV. UBS Group began coverage on Synovus Financial in a research note on Tuesday, December 17th. They issued a "buy" rating and a $76.00 target price on the stock. StockNews.com raised Synovus Financial from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. Citigroup increased their price target on Synovus Financial from $59.00 to $62.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. Evercore ISI increased their price target on Synovus Financial from $48.00 to $54.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. Finally, Barclays increased their price target on Synovus Financial from $56.00 to $64.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $58.44.

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.