Signaturefd LLC Has $1.92 Million Stock Holdings in Synovus Financial Corp. (NYSE:SNV)

Signaturefd LLC grew its position in Synovus Financial Corp. (NYSE:SNVFree Report) by 1.8% during the 4th quarter, HoldingsChannel reports. The firm owned 50,930 shares of the bank’s stock after purchasing an additional 881 shares during the quarter. Signaturefd LLC’s holdings in Synovus Financial were worth $1,918,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SNV. North Reef Capital Management LP raised its holdings in Synovus Financial by 52.7% in the third quarter. North Reef Capital Management LP now owns 4,485,000 shares of the bank’s stock worth $124,683,000 after purchasing an additional 1,548,370 shares during the period. Norges Bank acquired a new stake in shares of Synovus Financial during the fourth quarter worth $55,365,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of Synovus Financial by 591.4% during the first quarter. Schonfeld Strategic Advisors LLC now owns 1,146,116 shares of the bank’s stock worth $35,335,000 after acquiring an additional 980,341 shares during the period. FMR LLC raised its holdings in shares of Synovus Financial by 10.0% during the third quarter. FMR LLC now owns 10,702,534 shares of the bank’s stock worth $297,530,000 after acquiring an additional 977,155 shares during the period. Finally, State Street Corp grew its position in Synovus Financial by 15.7% in the first quarter. State Street Corp now owns 6,937,880 shares of the bank’s stock valued at $216,502,000 after purchasing an additional 941,244 shares in the last quarter. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Raymond James downgraded shares of Synovus Financial from a “strong-buy” rating to a “market perform” rating in a research report on Thursday. Piper Sandler decreased their price objective on shares of Synovus Financial from $46.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday. The Goldman Sachs Group decreased their price objective on shares of Synovus Financial from $46.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday. DA Davidson decreased their price objective on shares of Synovus Financial from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Friday. Finally, Evercore ISI lifted their price objective on shares of Synovus Financial from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Synovus Financial currently has an average rating of “Moderate Buy” and an average price target of $41.53.

Read Our Latest Stock Analysis on SNV

Synovus Financial Stock Performance

Shares of NYSE SNV traded up $1.01 during mid-day trading on Friday, reaching $34.91. 2,607,236 shares of the company were exchanged, compared to its average volume of 1,341,278. The company’s 50-day simple moving average is $37.91 and its 200-day simple moving average is $34.57. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $5.11 billion, a P/E ratio of 11.96, a P/E/G ratio of 3.75 and a beta of 1.40. Synovus Financial Corp. has a twelve month low of $24.40 and a twelve month high of $40.92.

Synovus Financial (NYSE:SNVGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The bank reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.20). Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. The business had revenue of $537.73 million during the quarter, compared to analyst estimates of $547.62 million. During the same quarter last year, the firm earned $1.33 EPS. Synovus Financial’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, research analysts predict that Synovus Financial Corp. will post 3.97 earnings per share for the current year.

Synovus Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 21st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Wednesday, March 20th. Synovus Financial’s dividend payout ratio (DPR) is 52.05%.

Insiders Place Their Bets

In other Synovus Financial news, EVP Thomas T. Dierdorff sold 2,045 shares of Synovus Financial stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $38.23, for a total value of $78,180.35. Following the completion of the sale, the executive vice president now owns 11,086 shares in the company, valued at approximately $423,817.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Thomas T. Dierdorff sold 2,045 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $38.23, for a total value of $78,180.35. Following the completion of the transaction, the executive vice president now directly owns 11,086 shares in the company, valued at approximately $423,817.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tim E. Bentsen sold 4,671 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $38.62, for a total transaction of $180,394.02. Following the completion of the transaction, the director now owns 33,144 shares of the company’s stock, valued at $1,280,021.28. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Synovus Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Synovus Financial (NYSE:SNV)

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