Synovus Financial (NYSE:SNV) Shares Unloaded Rep. W. Gregory Steube

Representative W. Gregory Steube (R-Florida) recently sold shares of Synovus Financial Corp. NYSE: SNV. In a filing disclosed on April 04th, the Representative disclosed that they had sold between $15,001 and $50,000 in Synovus Financial stock on February 19th. The trade occurred in the Representative's "INVESTMENT" account.

Synovus Financial Trading Down 0.0 %

Synovus Financial stock traded down $0.01 during mid-day trading on Friday, reaching $39.57. 1,689,831 shares of the company traded hands, compared to its average volume of 1,436,396. The firm's 50 day moving average price is $48.20 and its 200 day moving average price is $50.82. Synovus Financial Corp. has a 52-week low of $33.44 and a 52-week 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 firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.11 and a beta of 1.16.

Synovus Financial (NYSE:SNV - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $566.83 million. During the same period in the previous year, the company posted $0.80 earnings per share. The firm's revenue was up 18.8% on a year-over-year basis. On average, analysts anticipate that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 20th were issued a $0.39 dividend. The ex-dividend date was Thursday, March 20th. This represents a $1.56 annualized dividend and a yield of 3.94%. This is a boost from Synovus Financial's previous quarterly dividend of $0.38. Synovus Financial's payout ratio is 51.15%.

Institutional Investors Weigh In On Synovus Financial

A number of large investors have recently made changes to their positions in the company. Colonial Trust Co SC raised its stake in shares of Synovus Financial by 554.4% in the fourth quarter. Colonial Trust Co SC now owns 589 shares of the bank's stock worth $30,000 after buying an additional 499 shares during the period. Keystone Financial Group Inc. bought a new position in shares of Synovus Financial in the fourth quarter worth approximately $37,000. Quarry LP bought a new stake in shares of Synovus Financial during the 3rd quarter valued at $41,000. Jones Financial Companies Lllp raised its holdings in Synovus Financial by 72.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank's stock valued at $56,000 after acquiring an additional 461 shares during the period. Finally, V Square Quantitative Management LLC grew its position in shares of Synovus Financial by 69.3% during the fourth 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 in the last quarter. 83.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Citigroup raised 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. Wells Fargo & Company reduced their price target on Synovus Financial from $60.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday. Barclays dropped their price target on shares of Synovus Financial from $66.00 to $60.00 and set an "overweight" rating on the stock in a research note on Tuesday. Raymond James lowered shares of Synovus Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley decreased their target price on shares of Synovus Financial from $67.00 to $59.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.17.

About Representative Steube

Greg Steube (Republican Party) is a member of the U.S. House, representing Florida's 17th Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2027. Steube (Republican Party) is running for re-election to the U.S. House to represent Florida's 17th Congressional District. He declared candidacy for the 2026 election. Before holding elected office, Steube served as an airborne infantry officer and judge advocate general in the U.S. Army. He received his undergraduate degree and J.D. from the University of Florida.

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.