Legal & General Group Plc Has $11.21 Million Holdings in Synovus Financial Corp. (NYSE:SNV)

Legal & General Group Plc decreased its position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,807 shares of the bank's stock after selling 21,291 shares during the quarter. Legal & General Group Plc owned 0.15% of Synovus Financial worth $11,209,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its stake in Synovus Financial by 55.0% during the fourth quarter. Bank of Montreal Can now owns 39,807 shares of the bank's stock worth $2,039,000 after acquiring an additional 14,124 shares in the last quarter. Polymer Capital Management US LLC acquired a new position in Synovus Financial during the 4th quarter worth approximately $231,000. Cerity Partners LLC boosted its position in Synovus Financial by 7.4% in the fourth quarter. Cerity Partners LLC now owns 15,820 shares of the bank's stock valued at $767,000 after buying an additional 1,092 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new stake in shares of Synovus Financial during the fourth quarter worth $2,300,000. Finally, FMR LLC lifted its stake in shares of Synovus Financial by 3.6% in the 4th quarter. FMR LLC now owns 12,041,625 shares of the bank's stock valued at $616,892,000 after acquiring an additional 415,201 shares during the last quarter. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial Stock Up 3.4 %

NYSE SNV traded up $1.35 on Tuesday, hitting $41.48. 1,172,065 shares of the company were exchanged, compared to its average volume of 1,422,291. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company has a market cap of $5.85 billion, a PE ratio of 13.60, a PEG ratio of 1.11 and a beta of 1.16. The stock has a fifty day moving average of $46.13 and a 200-day moving average of $50.70. Synovus Financial Corp. has a 12 month low of $35.51 and a 12 month high of $59.92.

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

Synovus Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.76%. This is a positive change from Synovus Financial's previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 20th. Synovus Financial's dividend payout ratio is presently 43.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SNV shares. JPMorgan Chase & Co. lowered their target price on Synovus Financial from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Monday. Citigroup upped their price objective on Synovus Financial from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, January 17th. DA Davidson cut their target price on shares of Synovus Financial from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday. Wells Fargo & Company decreased their price target on shares of Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, Stephens cut 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 report on Monday. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Synovus Financial currently has an average rating of "Moderate Buy" and a consensus target price of $56.17.

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.