Atria Investments Inc Sells 1,278 Shares of Synovus Financial Corp. (NYSE:SNV)

Atria Investments Inc lowered its position in shares of Synovus Financial Corp. (NYSE:SNVFree Report) by 17.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,920 shares of the bank’s stock after selling 1,278 shares during the period. Atria Investments Inc’s holdings in Synovus Financial were worth $303,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SNV. Keystone Financial Group Inc. purchased a new position in shares of Synovus Financial in the fourth quarter valued at $37,000. Quarry LP bought a new stake in shares of Synovus Financial during the 3rd quarter worth approximately $41,000. Jones Financial Companies Lllp boosted its stake in shares of Synovus Financial by 72.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,095 shares of the bank’s stock valued at $56,000 after purchasing an additional 461 shares during the period. V Square Quantitative Management LLC boosted its position in Synovus Financial by 69.3% in 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, Brooklyn Investment Group bought a new position in shares of Synovus Financial during the 3rd quarter worth $56,000. Institutional investors own 83.85% of the company’s stock.

Analyst Upgrades and Downgrades

SNV has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on Synovus Financial from $52.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Piper Sandler increased 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. UBS Group assumed coverage on shares of Synovus Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target on the stock. 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. Finally, JPMorgan Chase & Co. raised their price target 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. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.67.

Read Our Latest Stock Analysis on SNV

Synovus Financial Trading Up 1.6 %

SNV opened at $46.43 on Tuesday. The firm has a market capitalization of $6.54 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.11 and a beta of 1.36. Synovus Financial Corp. has a 52-week low of $33.44 and a 52-week high of $59.92. The firm’s 50 day moving average is $52.56 and its 200-day moving average is $50.95. 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:SNVGet Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $580.58 million during the quarter, compared to analysts’ expectations of $566.83 million. Synovus Financial had a net margin of 14.05% and a return on equity of 14.70%. The business’s revenue was up 18.8% on a year-over-year basis. During the same period last year, the firm posted $0.80 earnings per share. Analysts expect that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 20th will be given a dividend of $0.39 per share. This is a boost from Synovus Financial’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $1.56 dividend on an annualized basis and a yield of 3.36%. Synovus Financial’s dividend payout ratio (DPR) is presently 51.15%.

About Synovus Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Synovus Financial (NYSE:SNV)

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