Truist Financial Corp increased its position in shares of Synovus Financial Corp. (NYSE:SNV – Free Report) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 121,099 shares of the bank’s stock after buying an additional 376 shares during the period. Truist Financial Corp owned 0.08% of Synovus Financial worth $4,559,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP boosted its holdings in Synovus Financial by 333.5% during the fourth quarter. Allworth Financial LP now owns 724 shares of the bank’s stock valued at $27,000 after acquiring an additional 557 shares during the period. International Assets Investment Management LLC bought a new stake in Synovus Financial during the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in Synovus Financial in the 3rd quarter valued at approximately $33,000. Tennessee Valley Asset Management Partners bought a new position in Synovus Financial in the 4th quarter worth approximately $42,000. Finally, Arlington Trust Co LLC acquired a new position in shares of Synovus Financial during the fourth quarter worth approximately $47,000. 83.85% of the stock is currently owned by institutional investors and hedge funds.
Synovus Financial Stock Performance
Shares of Synovus Financial stock opened at $38.08 on Monday. The firm has a 50 day simple moving average of $37.90 and a 200 day simple moving average of $35.25. Synovus Financial Corp. has a fifty-two week low of $24.40 and a fifty-two week high of $40.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $5.58 billion, a P/E ratio of 13.04, a P/E/G ratio of 4.41 and a beta of 1.41.
Synovus Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 21st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Wednesday, March 20th. Synovus Financial’s dividend payout ratio is presently 52.05%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $38.00 price objective (down previously from $46.00) on shares of Synovus Financial in a research note on Friday, April 19th. Morgan Stanley restated an “equal weight” rating and set a $37.00 price objective on shares of Synovus Financial in a report on Monday, April 22nd. The Goldman Sachs Group reduced their target price on shares of Synovus Financial from $46.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Jefferies Financial Group decreased their target price on Synovus Financial from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Finally, Raymond James cut Synovus Financial from a “strong-buy” rating to a “market perform” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Synovus Financial currently has an average rating of “Hold” and a consensus price target of $41.38.
Read Our Latest Research Report on SNV
Synovus Financial 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.
Featured Articles
- Five stocks we like better than Synovus Financial
- How to Calculate Stock Profit
- MarketBeat Week in Review – 4/29 – 5/3
- The 3 Best Blue-Chip Stocks to Buy Now
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- Short Selling: How to Short a Stock
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Receive News & Ratings for Synovus Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synovus Financial and related companies with MarketBeat.com's FREE daily email newsletter.