Synovus Financial Corp. (NYSE:SNV) Holdings Decreased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in Synovus Financial Corp. (NYSE:SNV - Free Report) by 16.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,595 shares of the bank's stock after selling 5,000 shares during the quarter. Nisa Investment Advisors LLC's holdings in Synovus Financial were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Synovus Financial during the third quarter worth approximately $30,000. UMB Bank n.a. boosted its stake in 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 acquiring an additional 348 shares during the last quarter. Quarry LP acquired a new position in Synovus Financial during the 3rd quarter worth $41,000. Brooklyn Investment Group bought a new stake in shares of Synovus Financial in the 3rd quarter worth about $56,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Synovus Financial by 474.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,466 shares of the bank's stock valued at $65,000 after purchasing an additional 1,211 shares in the last quarter. 83.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SNV shares. DA Davidson boosted their price objective on Synovus Financial from $53.00 to $60.00 and gave the company a "buy" rating in a report on Friday, October 18th. Stephens reiterated an "equal weight" rating and issued a $58.00 price target on shares of Synovus Financial in a report on Thursday, January 16th. Citigroup upped their price target on Synovus Financial from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Synovus Financial in a report on Monday, December 9th. They issued a "buy" rating and a $64.00 price objective for the company. Finally, StockNews.com raised shares of Synovus Financial from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Synovus Financial currently has an average rating of "Moderate Buy" and a consensus price target of $58.44.

Synovus Financial Price Performance

Shares of NYSE:SNV traded down $0.08 during trading on Friday, reaching $56.44. The company had a trading volume of 674,403 shares, compared to its average volume of 1,369,507. 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 quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $7.99 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39. The firm's fifty day moving average is $54.04 and its 200 day moving average is $49.22.

Synovus Financial (NYSE:SNV - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.09. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The company had revenue of $580.58 million for the quarter, compared to the consensus estimate of $566.83 million. During the same quarter in the previous year, the business earned $0.80 EPS. The company's quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities analysts forecast that Synovus Financial Corp. will post 4.86 EPS for the current year.

Synovus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 19th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Thursday, December 19th. Synovus Financial's payout ratio is 49.84%.

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.