Investors Asset Management of Georgia Inc. GA ADV Has $1.20 Million Stock Position in Synovus Financial Corp. (NYSE:SNV)

Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,476 shares of the bank’s stock after acquiring an additional 401 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Synovus Financial were worth $1,203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Keystone Financial Group Inc. acquired a new stake in shares of Synovus Financial during the fourth quarter worth approximately $37,000. Quarry LP acquired a new stake in shares of Synovus Financial during the 3rd quarter valued at $41,000. V Square Quantitative Management LLC boosted its stake in shares of Synovus Financial by 69.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank’s stock valued at $58,000 after buying an additional 466 shares during the period. Brooklyn Investment Group purchased a new position in shares of Synovus Financial during the 3rd quarter valued at $56,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Synovus Financial by 474.9% in the third quarter. Farther Finance Advisors LLC now owns 1,466 shares of the bank’s stock worth $65,000 after acquiring an additional 1,211 shares during the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SNV. The Goldman Sachs Group lifted their price objective on Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. 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. Wells Fargo & Company raised their price objective on shares of Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Citigroup lifted their target price on shares of Synovus Financial from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Synovus Financial in a research note on Monday, December 9th. They set a “buy” rating and a $64.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Synovus Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.44.

Synovus Financial Stock Performance

Synovus Financial stock opened at $54.01 on Friday. The stock has a 50-day simple moving average of $53.75 and a 200 day simple moving average of $50.24. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.14 and a beta of 1.39. 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 Corp. has a 12-month low of $33.44 and a 12-month high of $59.92.

Synovus Financial (NYSE:SNV) last announced its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The company had revenue of $580.58 million during the quarter, compared to the consensus estimate of $566.83 million. During the same period in the previous year, the firm posted $0.80 earnings per share. The company’s revenue was up 18.8% on a year-over-year basis. On average, research analysts anticipate that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were given 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 yield of 2.81%. Synovus Financial’s payout ratio is 49.84%.

Synovus Financial 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.