Rockefeller Capital Management L.P. Has $675,000 Stock Holdings in Synovus Financial Corp. (NYSE:SNV)

Rockefeller Capital Management L.P. decreased its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,175 shares of the bank’s stock after selling 842 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Synovus Financial were worth $675,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new stake in Synovus Financial in the fourth quarter valued at about $3,798,000. Nordea Investment Management AB increased its stake in shares of Synovus Financial by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 276,863 shares of the bank’s stock valued at $14,261,000 after acquiring an additional 10,109 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Synovus Financial in the 4th quarter valued at approximately $1,504,000. SG Americas Securities LLC boosted its stake in Synovus Financial by 11.0% during the 4th quarter. SG Americas Securities LLC now owns 12,547 shares of the bank’s stock worth $643,000 after acquiring an additional 1,240 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Synovus Financial by 4.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 51,357 shares of the bank’s stock valued at $2,631,000 after purchasing an additional 2,166 shares in the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SNV. Royal Bank of Canada reduced their price target on shares of Synovus Financial from $64.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday. Stephens lowered their price target on Synovus Financial from $52.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday. Barclays cut their price objective on Synovus Financial from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley lowered their target price on Synovus Financial from $67.00 to $59.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, Wells Fargo & Company cut their price target on shares of Synovus Financial from $60.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.17.

Synovus Financial Trading Up 3.4 %

Synovus Financial stock opened at $41.48 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day moving average of $46.13 and a 200-day moving average of $50.70. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 1.11 and a beta of 1.16. Synovus Financial Corp. has a one year low of $35.51 and a one year high of $59.92.

Synovus Financial (NYSE:SNV) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.19. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The firm had revenue of $573.24 million during the quarter, compared to the consensus estimate of $572.35 million. On average, equities analysts expect that Synovus Financial Corp. will post 4.89 earnings per share for the current fiscal year.

Synovus Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 20th were given a dividend of $0.39 per share. This is a positive change from Synovus Financial’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Thursday, March 20th. Synovus Financial’s dividend payout ratio is 43.70%.

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.