US Bancorp DE Increases Stock Holdings in Synovus Financial Corp. (NYSE:SNV)

US Bancorp DE boosted its stake in Synovus Financial Corp. (NYSE:SNVFree Report) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,050 shares of the bank’s stock after acquiring an additional 769 shares during the quarter. US Bancorp DE’s holdings in Synovus Financial were worth $604,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Channing Capital Management LLC acquired a new position in shares of Synovus Financial during the fourth quarter worth $72,201,000. Norges Bank acquired a new position in Synovus Financial in the 4th quarter worth $59,941,000. North Reef Capital Management LP boosted its position in Synovus Financial by 52.7% in the 3rd quarter. North Reef Capital Management LP now owns 4,485,000 shares of the bank’s stock valued at $124,683,000 after buying an additional 1,548,370 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Synovus Financial by 24.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,177,889 shares of the bank’s stock valued at $194,951,000 after acquiring an additional 1,016,231 shares in the last quarter. Finally, FMR LLC increased its position 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 last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

Wall Street Analyst Weigh In

SNV has been the subject of a number of recent analyst reports. StockNews.com lowered Synovus Financial from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. decreased their price target on shares of Synovus Financial from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $37.00 price target on shares of Synovus Financial in a report on Monday, April 22nd. Royal Bank of Canada decreased their price objective on shares of Synovus Financial from $44.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, April 19th. Finally, Evercore ISI boosted their target price on shares of Synovus Financial from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.50.

View Our Latest Stock Analysis on Synovus Financial

Synovus Financial Stock Performance

SNV stock opened at $37.47 on Friday. The stock’s fifty day moving average is $38.10 and its two-hundred day moving average is $37.17. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 5.08 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 0.89. Synovus Financial Corp. has a 1 year low of $24.40 and a 1 year high of $40.92.

Synovus Financial (NYSE:SNVGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The bank reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.20). Synovus Financial had a net margin of 13.29% and a return on equity of 12.93%. The business had revenue of $537.73 million for the quarter, compared to the consensus estimate of $547.62 million. During the same period last year, the firm posted $1.33 EPS. The business’s quarterly revenue was down 12.4% on a year-over-year basis. On average, research analysts predict that Synovus Financial Corp. will post 3.82 EPS for the current year.

Synovus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Thursday, June 20th. Synovus Financial’s dividend payout ratio (DPR) is 52.05%.

Synovus Financial Company 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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