8,539 Shares in Synovus Financial Corp. (NYSE:SNV) Acquired by PFW Advisors LLC

PFW Advisors LLC bought a new stake in shares of Synovus Financial Corp. (NYSE:SNV) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,539 shares of the bank’s stock, valued at approximately $437,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC boosted its holdings in shares of Synovus Financial by 5.4% in the third quarter. FMR LLC now owns 11,626,424 shares of the bank’s stock valued at $517,027,000 after acquiring an additional 598,644 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Synovus Financial by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 9,674,226 shares of the bank’s stock worth $430,213,000 after buying an additional 1,095,557 shares in the last quarter. State Street Corp lifted its holdings in shares of Synovus Financial by 3.2% in the third quarter. State Street Corp now owns 6,561,056 shares of the bank’s stock valued at $294,255,000 after buying an additional 201,362 shares during the period. Dimensional Fund Advisors LP boosted its stake in Synovus Financial by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,762,983 shares of the bank’s stock valued at $231,597,000 after buying an additional 491,036 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Synovus Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,992,614 shares of the bank’s stock worth $222,022,000 after acquiring an additional 147,599 shares during the period. 83.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SNV shares. JPMorgan Chase & Co. reduced their price objective on shares of Synovus Financial from $63.00 to $60.50 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of Synovus Financial in a report on Thursday, December 12th. Citigroup set a $59.00 target price on Synovus Financial in a report on Friday, October 18th. Finally, Barclays boosted their price objective on Synovus Financial from $56.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Synovus Financial has an average rating of “Moderate Buy” and a consensus target price of $57.86.

Synovus Financial Stock Up 2.0 %

Synovus Financial stock traded up $1.00 during mid-day trading on Monday, hitting $51.97. 1,551,465 shares of the company’s stock were exchanged, compared to its average volume of 1,154,694. The stock has a 50 day moving average of $54.22 and a two-hundred day moving average of $47.91. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.42. Synovus Financial Corp. has a 1-year low of $33.44 and a 1-year high of $59.92. The stock has a market cap of $7.36 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.58 and a beta of 1.39.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. Synovus Financial had a return on equity of 13.43% and a net margin of 10.82%. The company had revenue of $564.72 million for the quarter, compared to the consensus estimate of $557.64 million. During the same quarter last year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that Synovus Financial Corp. will post 4.37 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Thursday, December 19th. Synovus Financial’s dividend payout ratio is 68.78%.

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.