Synovus Financial Corp. (NYSE:SNV) Holdings Lifted by Intrust Bank NA

Intrust Bank NA increased its holdings in Synovus Financial Corp. (NYSE:SNV) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,113 shares of the bank’s stock after acquiring an additional 398 shares during the period. Intrust Bank NA’s holdings in Synovus Financial were worth $672,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Keystone Financial Group Inc. purchased a new stake in shares of Synovus Financial in the fourth quarter worth approximately $37,000. Quarry LP acquired a new position in Synovus Financial in the 3rd quarter valued at approximately $41,000. Jones Financial Companies Lllp lifted its position in Synovus Financial by 72.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank’s stock worth $56,000 after buying an additional 461 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Synovus Financial by 69.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank’s stock valued at $58,000 after buying an additional 466 shares during the period. Finally, Millstone Evans Group LLC purchased a new position in shares of Synovus Financial during the 4th quarter valued at $59,000. 83.85% of the stock is currently owned by institutional investors and hedge funds.

Synovus Financial Stock Performance

Shares of NYSE SNV opened at $46.12 on Friday. Synovus Financial Corp. has a 12 month low of $33.44 and a 12 month high of $59.92. The company has a market cap of $6.50 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.11 and a beta of 1.36. The business’s 50 day moving average is $51.56 and its two-hundred day moving average is $51.11. 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 (NYSE:SNV) last announced its earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The business had revenue of $580.58 million for the quarter, compared to analyst estimates of $566.83 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Synovus Financial’s revenue was up 18.8% compared to the same quarter last year. On average, equities analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current year.

Synovus Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 20th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, March 20th. This is a boost from Synovus Financial’s previous quarterly dividend of $0.38. Synovus Financial’s dividend payout ratio (DPR) is presently 51.15%.

Wall Street Analyst Weigh In

SNV has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Synovus Financial in a report on Monday, December 9th. They set a “buy” rating and a $64.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of Synovus Financial in a report on Thursday, December 12th. Morgan Stanley dropped their price objective on Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. lifted their target price on shares of Synovus Financial from $60.50 to $62.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company increased their price target on shares of Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.67.

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.