Synovus Financial Corp. (NYSE:SNV) Shares Acquired by Savant Capital LLC

Savant Capital LLC grew its stake in Synovus Financial Corp. (NYSE:SNV) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,923 shares of the bank’s stock after purchasing an additional 314 shares during the quarter. Savant Capital LLC’s holdings in Synovus Financial were worth $611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Synovus Financial during the third quarter worth about $30,000. Keystone Financial Group Inc. acquired a new position in Synovus Financial during the fourth quarter worth about $37,000. Quarry LP acquired a new position in Synovus Financial during the third quarter worth about $41,000. Brooklyn Investment Group acquired a new position in Synovus Financial during the third quarter worth about $56,000. Finally, Farther Finance Advisors LLC boosted its position in Synovus Financial by 474.9% during the third quarter. Farther Finance Advisors LLC now owns 1,466 shares of the bank’s stock worth $65,000 after acquiring an additional 1,211 shares during the last quarter. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial Stock Performance

Synovus Financial stock opened at $55.21 on Friday. The stock has a 50-day simple moving average of $53.76 and a 200 day simple moving average of $49.99. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37. Synovus Financial Corp. has a 12-month low of $33.44 and a 12-month high of $59.92. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 1.17 and a beta of 1.39.

Synovus Financial (NYSE:SNV) last posted its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $580.58 million for the quarter, compared to analyst estimates of $566.83 million. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 EPS. On average, research analysts anticipate that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.75%. Synovus Financial’s dividend payout ratio is presently 49.84%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SNV shares. Morgan Stanley boosted their price target on shares of Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Synovus Financial in a report on Monday, December 9th. They issued a “buy” rating and a $64.00 target price on the stock. UBS Group assumed coverage on shares of Synovus Financial in a report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Synovus Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.44.

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.