UMB Bank n.a. Boosts Stock Holdings in Synovus Financial Corp. $SNV

UMB Bank n.a. grew its holdings in Synovus Financial Corp. (NYSE:SNV) by 17.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,118 shares of the bank’s stock after buying an additional 308 shares during the quarter. UMB Bank n.a.’s holdings in Synovus Financial were worth $110,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Synovus Financial during the first quarter worth $47,000. Spectrum Wealth Counsel LLC acquired a new position in Synovus Financial in the first quarter valued at $70,000. Brooklyn Investment Group lifted its position in Synovus Financial by 39.1% during the first quarter. Brooklyn Investment Group now owns 1,561 shares of the bank’s stock worth $73,000 after buying an additional 439 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Synovus Financial by 33.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,626 shares of the bank’s stock worth $76,000 after buying an additional 406 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in Synovus Financial by 205.6% in the 1st 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. Hedge funds and other institutional investors own 83.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SNV shares. Keefe, Bruyette & Woods downgraded Synovus Financial from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $65.00 to $50.00 in a report on Tuesday, August 12th. JPMorgan Chase & Co. increased their price target on Synovus Financial from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. DA Davidson upped their target price on Synovus Financial from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Truist Financial dropped their target price on Synovus Financial from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, UBS Group lowered Synovus Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $63.00 to $56.00 in a research report on Tuesday, September 2nd. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.61.

Insider Buying and Selling

In other news, Director Gregory G. Montana acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average cost of $46.74 per share, with a total value of $46,740.00. Following the acquisition, the director owned 4,341 shares in the company, valued at approximately $202,898.34. This represents a 29.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew J. Jr. Gregory bought 2,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of $48.90 per share, for a total transaction of $97,800.00. Following the completion of the purchase, the chief financial officer directly owned 58,220 shares in the company, valued at $2,846,958. The trade was a 3.56% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 8,040 shares of company stock worth $392,916. Insiders own 1.00% of the company’s stock.

Synovus Financial Stock Performance

SNV stock opened at $49.61 on Thursday. The company has a 50-day simple moving average of $50.72 and a 200 day simple moving average of $48.27. The company has a market capitalization of $6.89 billion, a P/E ratio of 9.52, a PEG ratio of 0.84 and a beta of 1.22. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.77. Synovus Financial Corp. has a fifty-two week low of $35.94 and a fifty-two week high of $61.06.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings results on Wednesday, July 16th. The bank reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.23. The company had revenue of $592.08 million during 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 prior year, the business posted $1.16 EPS. Synovus Financial has set its FY 2025 guidance at EPS. Sell-side analysts predict that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 18th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Thursday, September 18th. Synovus Financial’s dividend payout ratio is 29.94%.

Synovus Financial Company 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.