KBC Group NV Acquires 1,554 Shares of Synovus Financial Corp. (NYSE:SNV)

KBC Group NV lifted its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 34.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,014 shares of the bank’s stock after buying an additional 1,554 shares during the quarter. KBC Group NV’s holdings in Synovus Financial were worth $308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SNV. V Square Quantitative Management LLC purchased a new stake in shares of Synovus Financial during the third quarter worth $30,000. UMB Bank n.a. raised its stake in shares of 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 purchasing an additional 348 shares during the period. Quarry LP purchased a new stake in Synovus Financial during the 3rd quarter worth about $41,000. Brooklyn Investment Group bought a new position in Synovus Financial in the 3rd quarter worth about $56,000. Finally, Farther Finance Advisors LLC grew its holdings in Synovus Financial by 474.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,466 shares of the bank’s stock valued at $65,000 after buying an additional 1,211 shares in the last quarter. 83.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNV has been the subject of a number of analyst reports. DA Davidson raised their price objective on shares of Synovus Financial from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Evercore ISI raised their price target on shares of Synovus Financial from $48.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of Synovus Financial in a report on Monday, December 9th. They issued a “buy” rating and a $64.00 price target on the stock. Wells Fargo & Company upped their target price on Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, StockNews.com upgraded Synovus Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Synovus Financial currently has an average rating of “Moderate Buy” and an average price target of $58.44.

Synovus Financial Stock Performance

Shares of SNV stock opened at $55.07 on Tuesday. The company has a market capitalization of $7.80 billion, a P/E ratio of 18.05, a PEG ratio of 1.17 and a beta of 1.39. Synovus Financial Corp. has a fifty-two week low of $33.44 and a fifty-two week 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 stock has a 50 day moving average price of $53.94 and a two-hundred day moving average price of $49.43.

Synovus Financial (NYSE:SNV) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $580.58 million during the quarter, compared to analyst estimates of $566.83 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. Analysts expect that Synovus Financial Corp. will post 4.86 earnings per share for the current year.

Synovus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 19th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.52 annualized dividend and a dividend yield of 2.76%. Synovus Financial’s payout ratio is presently 49.84%.

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.