Northwestern Mutual Wealth Management Co. Raises Holdings in Synovus Financial Corp. $SNV

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 33.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,626 shares of the bank’s stock after buying an additional 406 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Synovus Financial were worth $76,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Colonial Trust Co SC increased its holdings in Synovus Financial by 554.4% during the fourth quarter. Colonial Trust Co SC now owns 589 shares of the bank’s stock valued at $30,000 after buying an additional 499 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Synovus Financial during the first quarter valued at approximately $47,000. Spectrum Wealth Counsel LLC purchased a new position in Synovus Financial during the first quarter valued at approximately $70,000. Brooklyn Investment Group increased its holdings in Synovus Financial by 39.1% during the first quarter. Brooklyn Investment Group now owns 1,561 shares of the bank’s stock valued at $73,000 after buying an additional 439 shares during the period. Finally, Quent Capital LLC increased its holdings in Synovus Financial by 205.6% during the first quarter. Quent Capital LLC now owns 1,797 shares of the bank’s stock valued at $84,000 after buying an additional 1,209 shares during the period. 83.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SNV. Raymond James Financial lowered shares of Synovus Financial from a “moderate buy” rating to a “hold” rating in a report on Monday, July 28th. Wall Street Zen raised shares of Synovus Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Barclays cut their price target on shares of Synovus Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, July 28th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $58.00 price target (down from $62.00) on shares of Synovus Financial in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Synovus Financial from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.83.

Insider Buying and Selling at Synovus Financial

In other Synovus Financial news, Director Gregory G. Montana bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average cost of $46.74 per share, for a total transaction of $46,740.00. Following the completion of the transaction, the director directly owned 4,341 shares of the company’s stock, valued at approximately $202,898.34. This trade represents a 29.93% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Diana M. Murphy bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average price of $48.80 per share, with a total value of $48,800.00. Following the completion of the transaction, the director directly owned 40,171 shares of the company’s stock, valued at $1,960,344.80. This trade represents a 2.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 8,040 shares of company stock valued at $392,916. Company insiders own 1.00% of the company’s stock.

Synovus Financial Price Performance

Shares of SNV opened at $51.51 on Friday. The firm has a market capitalization of $7.15 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.86 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.92 and a quick ratio of 0.92. Synovus Financial Corp. has a 1-year low of $35.94 and a 1-year high of $61.06. The company’s fifty day moving average price is $51.54 and its 200-day moving average price is $48.20.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings data on Wednesday, July 16th. The bank reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.23. The firm had revenue of $592.08 million for the quarter, compared to analyst estimates of $584.89 million. Synovus Financial had a net margin of 21.52% and a return on equity of 16.20%. During the same period in the previous year, the company earned $1.16 earnings per share. Synovus Financial has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Synovus Financial Corp. will post 4.89 EPS for the current year.

Synovus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 18th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, September 18th. This represents a $1.56 dividend on an annualized basis and a yield of 3.0%. Synovus Financial’s payout ratio is currently 29.94%.

About Synovus Financial

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.