New England Capital Financial Advisors LLC Has $79,000 Stock Position in Synovus Financial Corp. (NYSE:SNV)

New England Capital Financial Advisors LLC lessened its position in shares of Synovus Financial Corp. (NYSE:SNV) by 22.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,543 shares of the bank’s stock after selling 444 shares during the quarter. New England Capital Financial Advisors LLC’s holdings in Synovus Financial were worth $79,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SNV. Investors Asset Management of Georgia Inc. GA ADV lifted its position in Synovus Financial by 1.7% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 23,476 shares of the bank’s stock valued at $1,203,000 after purchasing an additional 401 shares during the period. Ieq Capital LLC acquired a new position in Synovus Financial in the fourth quarter valued at approximately $3,374,000. New York State Common Retirement Fund boosted its stake in Synovus Financial by 1.5% in the fourth quarter. New York State Common Retirement Fund now owns 467,825 shares of the bank’s stock valued at $23,967,000 after acquiring an additional 6,784 shares during the last quarter. D.A. Davidson & CO. bought a new position in Synovus Financial in the fourth quarter valued at approximately $234,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Synovus Financial during the 4th quarter valued at $231,000. Institutional investors and hedge funds own 83.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNV. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of Synovus Financial in a research report on Thursday, December 12th. Stephens restated an “equal weight” rating and set a $58.00 target price on shares of Synovus Financial in a research report on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on shares of Synovus Financial from $60.50 to $62.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Citigroup lifted their price objective on shares of Synovus Financial from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company upped their target price on shares of Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.44.

Synovus Financial Price Performance

Shares of SNV opened at $51.73 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37. Synovus Financial Corp. has a twelve month low of $33.44 and a twelve month high of $59.92. The stock has a market capitalization of $7.33 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.11 and a beta of 1.39. The company has a 50 day moving average of $53.70 and a 200-day moving average of $50.39.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. The firm had revenue of $580.58 million for the quarter, compared to analyst estimates of $566.83 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. As a group, equities research analysts forecast that Synovus Financial Corp. will post 4.89 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. Investors of record on Thursday, December 19th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.52 dividend on an annualized basis and a yield of 2.94%. Synovus Financial’s payout ratio is 49.84%.

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.