D.A. Davidson & CO. Acquires New Shares in Synovus Financial Corp. (NYSE:SNV)

D.A. Davidson & CO. bought a new position in Synovus Financial Corp. (NYSE:SNV) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,570 shares of the bank’s stock, valued at approximately $234,000.

Several other large investors have also recently bought and sold shares of SNV. Keystone Financial Group Inc. acquired a new stake in shares of Synovus Financial in the fourth quarter valued at about $37,000. Quarry LP bought a new stake in Synovus Financial in the third quarter valued at approximately $41,000. Brooklyn Investment Group acquired a new stake in Synovus Financial during the 3rd quarter valued at approximately $56,000. V Square Quantitative Management LLC increased its position in Synovus Financial by 69.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank’s stock valued at $58,000 after purchasing an additional 466 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Synovus Financial by 474.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,466 shares of the bank’s stock worth $65,000 after purchasing an additional 1,211 shares during the last quarter. 83.85% of the stock is currently owned by institutional investors.

Synovus Financial Stock Performance

Shares of SNV stock opened at $51.29 on Friday. The firm has a market capitalization of $7.27 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.11 and a beta of 1.39. The firm has a fifty day simple moving average of $53.65 and a two-hundred day simple moving average of $50.61. Synovus Financial Corp. has a 12 month low of $33.44 and a 12 month high of $59.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Synovus Financial (NYSE:SNV) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $580.58 million for 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 firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. Analysts forecast that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th were paid a $0.38 dividend. The ex-dividend date was Thursday, December 19th. This represents a $1.52 annualized dividend and a dividend yield of 2.96%. Synovus Financial’s payout ratio is 49.84%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SNV shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of Synovus Financial in a research note on Thursday, December 12th. Wells Fargo & Company upped their price target on shares of Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Synovus Financial in a research report on Monday, December 9th. They issued a “buy” rating and a $64.00 price objective for the company. Citigroup upped their target price on Synovus Financial from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group lifted their target price on Synovus Financial from $52.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.44.

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.