XTX Topco Ltd Acquires New Holdings in Synovus Financial Corp. (NYSE:SNV)

XTX Topco Ltd purchased a new position in shares of Synovus Financial Corp. (NYSE:SNV - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 31,605 shares of the bank's stock, valued at approximately $1,405,000.

Other large investors also recently modified their holdings of the company. &PARTNERS acquired a new position in shares of Synovus Financial during the second quarter worth $284,000. Texas Permanent School Fund Corp boosted its position in shares of Synovus Financial by 19.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 153,017 shares of the bank's stock worth $6,150,000 after acquiring an additional 25,028 shares in the last quarter. Private Capital Management LLC increased its holdings in shares of Synovus Financial by 6.2% in the 1st quarter. Private Capital Management LLC now owns 365,557 shares of the bank's stock valued at $14,644,000 after acquiring an additional 21,456 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Synovus Financial by 7.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 146,734 shares of the bank's stock worth $6,525,000 after acquiring an additional 10,346 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in Synovus Financial by 14.9% during the second quarter. Wedge Capital Management L L P NC now owns 1,145,174 shares of the bank's stock worth $46,025,000 after purchasing an additional 148,842 shares during the last quarter. 83.85% of the stock is owned by hedge funds and other institutional investors.

Synovus Financial Price Performance

NYSE:SNV traded down $0.93 during trading hours on Monday, hitting $54.84. The company's stock had a trading volume of 1,437,310 shares, compared to its average volume of 1,388,973. The company has a market capitalization of $7.77 billion, a PE ratio of 24.81, a PEG ratio of 2.01 and a beta of 1.38. Synovus Financial Corp. has a 52-week low of $33.44 and a 52-week high of $59.92. The business's 50-day moving average is $51.74 and its two-hundred day moving average is $45.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.88 and a current ratio of 0.89.

Synovus Financial (NYSE:SNV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. Synovus Financial had a net margin of 10.82% and a return on equity of 13.43%. The firm had revenue of $564.72 million during the quarter, compared to analysts' expectations of $557.64 million. During the same quarter last year, the business earned $0.84 earnings per share. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts anticipate that Synovus Financial Corp. will post 4.37 EPS for the current fiscal year.

Synovus Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 19th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, December 19th. Synovus Financial's dividend payout ratio is currently 68.78%.

Wall Street Analysts Forecast Growth

SNV has been the topic of several recent analyst reports. DA Davidson increased their price target on shares of Synovus Financial from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, October 18th. The Goldman Sachs Group increased their target price on shares of Synovus Financial from $52.00 to $62.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Stephens lifted their price target on shares of Synovus Financial from $46.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Wells Fargo & Company upped their price objective on shares of Synovus Financial from $51.00 to $55.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. Finally, Raymond James raised Synovus Financial from a "market perform" rating to an "outperform" rating and set a $49.00 price objective on the stock in a report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $55.00.

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.