Stifel Financial Corp Has $5.74 Million Holdings in Synovus Financial Corp. (NYSE:SNV)

Stifel Financial Corp lessened its position in shares of Synovus Financial Corp. (NYSE:SNVFree Report) by 37.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,491 shares of the bank’s stock after selling 90,983 shares during the period. Stifel Financial Corp owned approximately 0.10% of Synovus Financial worth $5,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SNV. Allworth Financial LP boosted its stake in Synovus Financial by 333.5% in the 4th quarter. Allworth Financial LP now owns 724 shares of the bank’s stock valued at $27,000 after purchasing an additional 557 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Synovus Financial during the fourth quarter worth $28,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Synovus Financial in the fourth quarter valued at about $30,000. American National Bank acquired a new position in shares of Synovus Financial in the fourth quarter valued at about $38,000. Finally, Tennessee Valley Asset Management Partners bought a new position in Synovus Financial during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 83.85% of the company’s stock.

Insider Buying and Selling

In other Synovus Financial news, major shareholder Eli Samaha sold 6,803 shares of Synovus Financial stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.22, for a total transaction of $171,571.66. Following the transaction, the insider now directly owns 1,466,493 shares of the company’s stock, valued at approximately $36,984,953.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is currently owned by insiders.

Synovus Financial Stock Performance

Shares of SNV stock opened at $37.47 on Friday. Synovus Financial Corp. has a twelve month low of $24.40 and a twelve month high of $40.92. The stock’s fifty day simple moving average is $38.04 and its 200 day simple moving average is $37.22. 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 firm has a market capitalization of $5.49 billion, a P/E ratio of 12.83, a P/E/G ratio of 5.06 and a beta of 1.41.

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 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 firm had revenue of $537.73 million for the quarter, compared to the consensus estimate of $547.62 million. During the same quarter last year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, sell-side analysts predict that Synovus Financial Corp. will post 3.82 EPS for the current fiscal year.

Synovus Financial Announces Dividend

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. The ex-dividend date is Thursday, June 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.06%. Synovus Financial’s dividend payout ratio (DPR) is presently 52.05%.

Analyst Upgrades and Downgrades

SNV has been the topic of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Synovus Financial from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. DA Davidson raised their price objective on Synovus Financial from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Barclays cut their target price on Synovus Financial from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Truist Financial decreased their price target on Synovus Financial from $45.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Royal Bank of Canada cut their price objective on shares of Synovus Financial from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.50.

View Our Latest Research Report on Synovus Financial

About Synovus Financial

(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.

See Also

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

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