6,028 Shares in Synovus Financial Corp. (NYSE:SNV) Acquired by Greenleaf Trust

Greenleaf Trust purchased a new position in shares of Synovus Financial Corp. (NYSE:SNV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,028 shares of the bank’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Allworth Financial LP increased its holdings in Synovus Financial by 333.5% during the 4th quarter. Allworth Financial LP now owns 724 shares of the bank’s stock worth $27,000 after purchasing an additional 557 shares during the period. International Assets Investment Management LLC purchased a new position in Synovus Financial during the 4th quarter worth $28,000. First Command Advisory Services Inc. purchased a new position in Synovus Financial during the 3rd quarter worth $33,000. Tennessee Valley Asset Management Partners purchased a new position in Synovus Financial during the 4th quarter worth $42,000. Finally, Arlington Trust Co LLC purchased a new position in Synovus Financial during the 4th quarter worth $47,000. 83.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on SNV shares. Morgan Stanley restated an “equal weight” rating and set a $37.00 price objective on shares of Synovus Financial in a report on Monday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $38.00 price target (down from $46.00) on shares of Synovus Financial in a report on Friday, April 19th. Raymond James downgraded Synovus Financial from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 18th. UBS Group lifted their price target on Synovus Financial from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, Evercore ISI lifted their price target on Synovus Financial from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.38.

Synovus Financial Stock Performance

Shares of SNV opened at $36.82 on Thursday. The stock has a 50-day moving average of $37.92 and a two-hundred day moving average of $34.78. Synovus Financial Corp. has a one year low of $24.40 and a one year high of $40.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $5.39 billion, a P/E ratio of 12.61, a P/E/G ratio of 4.19 and a beta of 1.40.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.20). Synovus Financial had a return on equity of 12.93% and a net margin of 13.29%. The firm had revenue of $537.73 million for the quarter, compared to analyst estimates of $547.62 million. During the same period in the prior year, the firm posted $1.33 EPS. The business’s revenue was down 12.4% compared to the same quarter last year. As a group, research analysts predict that Synovus Financial Corp. will post 3.8 EPS for the current year.

Synovus Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 21st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.52 dividend on an annualized basis and a yield of 4.13%. Synovus Financial’s dividend payout ratio is currently 52.05%.

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.