5,521 Shares in Synovus Financial Corp. (NYSE:SNV) Acquired by Hyman Charles D

Hyman Charles D acquired a new position in shares of Synovus Financial Corp. (NYSE:SNV) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,521 shares of the bank’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Channing Capital Management LLC acquired a new position in shares of Synovus Financial during the fourth quarter worth about $72,201,000. North Reef Capital Management LP lifted its position in Synovus Financial by 52.7% in the 3rd quarter. North Reef Capital Management LP now owns 4,485,000 shares of the bank’s stock worth $124,683,000 after buying an additional 1,548,370 shares in the last quarter. FMR LLC lifted its stake in Synovus Financial by 10.0% in the third quarter. FMR LLC now owns 10,702,534 shares of the bank’s stock valued at $297,530,000 after acquiring an additional 977,155 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Synovus Financial by 346.6% during the 4th quarter. New York State Common Retirement Fund now owns 570,880 shares of the bank’s stock valued at $21,494,000 after acquiring an additional 443,056 shares during the last quarter. Finally, Strs Ohio bought a new position in Synovus Financial in the 4th quarter worth $16,415,000. Institutional investors and hedge funds own 83.85% of the company’s stock.

Analysts Set New Price Targets

SNV has been the topic of several recent analyst reports. Barclays decreased their price target on Synovus Financial from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Wells Fargo & Company reduced their target price on Synovus Financial from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Truist Financial decreased their price objective on Synovus Financial from $45.00 to $39.00 and set a “buy” rating for the company in a report on Monday, April 22nd. The Goldman Sachs Group cut their price objective on Synovus Financial from $46.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $38.00 target price (down from $46.00) on shares of Synovus Financial in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $41.50.

Synovus Financial Stock Up 1.9 %

Shares of SNV traded up $0.73 during midday trading on Wednesday, hitting $39.11. 850,148 shares of the company’s stock traded hands, compared to its average volume of 1,483,901. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 4.48 and a beta of 1.41. The firm’s fifty day moving average is $37.95 and its 200-day moving average is $35.48. Synovus Financial Corp. has a 1 year low of $24.40 and a 1 year high of $40.92.

Synovus Financial (NYSE:SNV) last released its quarterly earnings data on Thursday, April 18th. The bank reported $0.79 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.20). Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. The company had revenue of $537.73 million during the quarter, compared to analysts’ expectations of $547.62 million. During the same quarter in the prior year, the company posted $1.33 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Synovus Financial Corp. will post 3.76 earnings per share for the current year.

Synovus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 21st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Wednesday, March 20th. Synovus Financial’s dividend payout ratio (DPR) is presently 52.05%.

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.