Cwm LLC Purchases 967 Shares of Synovus Financial Corp. (NYSE:SNV)

Cwm LLC grew its position in Synovus Financial Corp. (NYSE:SNV) by 93.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,003 shares of the bank’s stock after acquiring an additional 967 shares during the quarter. Cwm LLC’s holdings in Synovus Financial were worth $89,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Synovus Financial during the 2nd quarter valued at approximately $43,000. Abich Financial Wealth Management LLC increased its position 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 purchasing an additional 371 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Synovus Financial during the 1st quarter valued at approximately $51,000. Headlands Technologies LLC increased its position in shares of Synovus Financial by 404.8% during the 2nd quarter. Headlands Technologies LLC now owns 1,378 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,105 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Synovus Financial by 18.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,906 shares of the bank’s stock valued at $76,000 after purchasing an additional 298 shares during the last quarter. Institutional investors own 83.85% of the company’s stock.

Synovus Financial Trading Down 1.0 %

Shares of NYSE:SNV opened at $48.58 on Friday. The business’s 50-day moving average is $45.17 and its 200 day moving average is $41.67. Synovus Financial Corp. has a 1 year low of $24.75 and a 1 year high of $51.69. The firm has a market capitalization of $7.11 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.80 and a beta of 1.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.89 and a quick ratio of 0.88.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. The business had revenue of $564.72 million for the quarter, compared to analyst estimates of $557.64 million. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 earnings per share. On average, research analysts predict that Synovus Financial Corp. will post 4.3 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 19th were paid a $0.38 dividend. The ex-dividend date was Thursday, September 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.13%. Synovus Financial’s payout ratio is 52.05%.

Analyst Ratings Changes

A number of research firms recently issued reports on SNV. Evercore ISI dropped their price objective on Synovus Financial from $50.00 to $48.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Morgan Stanley boosted their price objective on Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Raymond James upgraded Synovus Financial from a “market perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a report on Tuesday, September 17th. Piper Sandler boosted their price objective on Synovus Financial from $42.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Jefferies Financial Group upped their target price on Synovus Financial from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

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.