Synovus Financial Corp Has $866,000 Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Synovus Financial Corp raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,358 shares of the transportation company’s stock after buying an additional 101 shares during the quarter. Synovus Financial Corp’s holdings in Old Dominion Freight Line were worth $866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line during the second quarter valued at approximately $25,000. LRI Investments LLC grew its holdings in shares of Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after buying an additional 79 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of Old Dominion Freight Line by 472.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 189 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the third quarter worth about $45,000. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ODFL has been the topic of several recent analyst reports. Evercore ISI cut their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Bank of America lowered their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Barclays boosted their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Stephens reiterated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $204.00.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $198.89 on Tuesday. The stock has a market capitalization of $42.46 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 4.21 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The stock has a 50 day moving average price of $209.34 and a 200 day moving average price of $196.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts predict that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Insider Transactions at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.