Vontobel Holding Ltd. Buys Shares of 3,995 Synovus Financial Corp. (NYSE:SNV)

Vontobel Holding Ltd. bought a new stake in shares of Synovus Financial Corp. (NYSE:SNV) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,995 shares of the bank’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC grew its stake in Synovus Financial by 5.4% during the 3rd quarter. FMR LLC now owns 11,626,424 shares of the bank’s stock valued at $517,027,000 after acquiring an additional 598,644 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Synovus Financial by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 9,674,226 shares of the bank’s stock valued at $430,213,000 after buying an additional 1,095,557 shares in the last quarter. State Street Corp grew its stake in shares of Synovus Financial by 3.2% in the 3rd quarter. State Street Corp now owns 6,561,056 shares of the bank’s stock valued at $294,255,000 after buying an additional 201,362 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Synovus Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,992,614 shares of the bank’s stock valued at $222,022,000 after buying an additional 147,599 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Synovus Financial by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,419,737 shares of the bank’s stock valued at $107,633,000 after buying an additional 22,549 shares in the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Synovus Financial Stock Down 4.2 %

Shares of SNV stock opened at $51.73 on Friday. Synovus Financial Corp. has a 12 month low of $33.44 and a 12 month high of $59.92. The firm has a market cap of $7.33 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.14 and a beta of 1.39. The stock has a 50 day moving average of $53.70 and a 200-day moving average of $50.32. 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 (NYSE:SNV) last issued its 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 business had revenue of $580.58 million during 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%. Synovus Financial’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. On average, equities analysts predict that Synovus Financial Corp. will post 4.89 EPS for the current year.

Synovus Financial Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.94%. Synovus Financial’s payout ratio is 49.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Evercore ISI boosted their price target on Synovus Financial from $48.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Citigroup upped their target price on Synovus Financial from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Piper Sandler upped their target price on Synovus Financial from $56.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of Synovus Financial in a research report on Thursday, December 12th. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.