Synovus Financial Corp. (NYSE:SNV) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC raised its position in Synovus Financial Corp. (NYSE:SNV) by 21.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,307 shares of the bank’s stock after buying an additional 2,007 shares during the period. SG Americas Securities LLC’s holdings in Synovus Financial were worth $503,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SNV. Innealta Capital LLC acquired a new position in shares of Synovus Financial in the second quarter worth about $43,000. Abich Financial Wealth Management LLC boosted its stake in shares of Synovus Financial by 43.5% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,224 shares of the bank’s stock valued at $49,000 after buying an additional 371 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Synovus Financial during the first quarter worth approximately $51,000. Headlands Technologies LLC increased its stake in shares of Synovus Financial by 404.8% in the second quarter. Headlands Technologies LLC now owns 1,378 shares of the bank’s stock worth $55,000 after buying an additional 1,105 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Synovus Financial by 18.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,906 shares of the bank’s stock valued at $76,000 after acquiring an additional 298 shares in the last quarter. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Synovus Financial from $41.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Stephens upped their price objective on Synovus Financial from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Raymond James upgraded Synovus Financial from a “market perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research report on Tuesday, September 17th. Piper Sandler upped their price target on Synovus Financial from $42.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Wells Fargo & Company downgraded shares of Synovus Financial from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $48.00 to $46.00 in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.94.

Synovus Financial Trading Up 1.7 %

NYSE:SNV opened at $47.32 on Wednesday. Synovus Financial Corp. has a 1 year low of $24.40 and a 1 year high of $48.27. The business has a fifty day moving average of $43.96 and a 200-day moving average of $41.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 0.90. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.05 and a beta of 1.38.

Synovus Financial (NYSE:SNV) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.20. The company had revenue of $563.60 million for the quarter, compared to the consensus estimate of $543.52 million. Synovus Financial had a net margin of 8.40% and a return on equity of 12.76%. Synovus Financial’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS. Equities analysts predict that Synovus Financial Corp. will post 4.02 earnings per share for the current year.

Synovus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Thursday, September 19th. Synovus Financial’s dividend payout ratio (DPR) is presently 52.05%.

Insider Transactions at Synovus Financial

In related news, EVP Thomas T. Dierdorff sold 614 shares of Synovus Financial stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.20, for a total transaction of $28,366.80. Following the transaction, the executive vice president now directly owns 14,833 shares of the company’s stock, valued at $685,284.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.81% of the company’s stock.

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.