Synovus Financial Corp Has $273.80 Million Holdings in Synovus Financial Corp. (NYSE:SNV)

Synovus Financial Corp reduced its stake in Synovus Financial Corp. (NYSE:SNV - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,344,421 shares of the bank's stock after selling 270,095 shares during the period. Synovus Financial accounts for about 3.5% of Synovus Financial Corp's holdings, making the stock its 5th biggest position. Synovus Financial Corp owned 3.77% of Synovus Financial worth $273,796,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in Synovus Financial in the fourth quarter worth $3,798,000. Nordea Investment Management AB lifted its position in shares of Synovus Financial by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 276,863 shares of the bank's stock valued at $14,261,000 after acquiring an additional 10,109 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Synovus Financial in the 4th quarter worth approximately $1,504,000. SG Americas Securities LLC increased its stake in Synovus Financial by 11.0% in the 4th quarter. SG Americas Securities LLC now owns 12,547 shares of the bank's stock valued at $643,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Synovus Financial by 4.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 51,357 shares of the bank's stock worth $2,631,000 after purchasing an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 83.85% of the company's stock.

Analyst Ratings Changes

SNV has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Synovus Financial from $60.50 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Citigroup lifted their price objective on Synovus Financial from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Raymond James lowered shares of Synovus Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Barclays lowered 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. Finally, Morgan Stanley decreased their price objective on shares of Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Synovus Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.17.

Synovus Financial Stock Up 1.8 %

NYSE:SNV traded up $0.72 during trading hours on Friday, reaching $41.24. 2,718,620 shares of the stock were exchanged, compared to its average volume of 1,447,133. The firm has a 50 day moving average of $46.96 and a 200 day moving average of $50.68. 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. The stock has a market cap of $5.81 billion, a PE ratio of 13.52, a PEG ratio of 1.11 and a beta of 1.16.

Synovus Financial (NYSE:SNV - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $573.24 million for the quarter, compared to analysts' expectations of $572.35 million. On average, equities analysts expect that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.78%. This is a boost from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's payout ratio is 51.15%.

Synovus Financial Company 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.