Synovus Financial Corp. (NYSE:SNV) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. grew its position in Synovus Financial Corp. (NYSE:SNV) by 781.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,282 shares of the bank’s stock after purchasing an additional 186,424 shares during the period. Blue Trust Inc. owned approximately 0.15% of Synovus Financial worth $10,773,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC lifted its position in Synovus Financial by 69.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank’s stock worth $58,000 after acquiring an additional 466 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in Synovus Financial during the 4th quarter worth approximately $205,000. Savant Capital LLC lifted its position in Synovus Financial by 2.7% during the 4th quarter. Savant Capital LLC now owns 11,923 shares of the bank’s stock worth $611,000 after acquiring an additional 314 shares in the last quarter. Entropy Technologies LP lifted its position in Synovus Financial by 386.1% during the 4th quarter. Entropy Technologies LP now owns 31,220 shares of the bank’s stock worth $1,599,000 after acquiring an additional 24,798 shares in the last quarter. Finally, Vest Financial LLC lifted its position in Synovus Financial by 46.4% during the 4th quarter. Vest Financial LLC now owns 48,818 shares of the bank’s stock worth $2,501,000 after acquiring an additional 15,477 shares in the last quarter. 83.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNV shares. Piper Sandler boosted their price target on Synovus Financial from $56.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. DA Davidson upped their target price on Synovus Financial from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com raised Synovus Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Stephens reaffirmed an “equal weight” rating and issued a $58.00 target price on shares of Synovus Financial in a research report on Thursday, January 16th. Finally, Truist Financial upped their target price on Synovus Financial from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.44.

Synovus Financial Price Performance

Shares of NYSE SNV opened at $55.21 on Friday. Synovus Financial Corp. has a twelve month low of $33.44 and a twelve month high of $59.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 1.17 and a beta of 1.39. The business has a 50 day simple moving average of $53.76 and a 200-day simple moving average of $49.96.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The firm had revenue of $580.58 million during the quarter, compared to the consensus estimate of $566.83 million. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The firm’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. As a group, equities research analysts expect that Synovus Financial Corp. will post 4.89 earnings per share for the current year.

Synovus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 19th were paid 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 2.75%. Synovus Financial’s payout ratio is currently 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.