Natixis Advisors LLC Sells 7,138 Shares of Synovus Financial Corp. (NYSE:SNV)

Natixis Advisors LLC trimmed its holdings in Synovus Financial Corp. (NYSE:SNV) by 17.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,099 shares of the bank’s stock after selling 7,138 shares during the period. Natixis Advisors LLC’s holdings in Synovus Financial were worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SNV. Keystone Financial Group Inc. purchased a new position in shares of Synovus Financial during the 4th quarter valued at $37,000. Quarry LP bought a new stake in shares of Synovus Financial in the 3rd quarter valued at about $41,000. Brooklyn Investment Group purchased a new stake in shares of Synovus Financial during the third quarter valued at approximately $56,000. Jones Financial Companies Lllp boosted its position in Synovus Financial by 72.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank’s stock valued at $56,000 after buying an additional 461 shares during the period. Finally, V Square Quantitative Management LLC grew its stake in shares of Synovus Financial by 69.3% in 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 during the last quarter. 83.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Stephens restated an “equal weight” rating and set a $58.00 price target on shares of Synovus Financial in a report on Thursday, January 16th. 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 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of Synovus Financial in a research note on Thursday, December 12th. Finally, Citigroup increased their price target on Synovus Financial from $59.00 to $62.00 and gave the company a “buy” rating in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.67.

Synovus Financial Trading Up 3.5 %

NYSE SNV opened at $49.09 on Tuesday. Synovus Financial Corp. has a 12 month low of $33.44 and a 12 month high of $59.92. The company’s 50-day moving average price is $52.12 and its 200-day moving average price is $51.04. The stock has a market cap of $6.92 billion, a PE ratio of 16.09, a PEG ratio of 1.11 and a beta of 1.36. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Synovus Financial (NYSE:SNV) last posted 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. The firm had revenue of $580.58 million during the quarter, compared to the consensus estimate of $566.83 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The company’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Equities research analysts forecast that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $1.56 annualized dividend and a dividend yield of 3.18%. This is a positive change from Synovus Financial’s previous quarterly dividend of $0.38. Synovus Financial’s dividend payout ratio (DPR) is currently 51.15%.

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.