PFW Advisors LLC Purchases Shares of 8,539 Synovus Financial Corp. (NYSE:SNV)

PFW Advisors LLC acquired a new position in shares of Synovus Financial Corp. (NYSE:SNV) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,539 shares of the bank’s stock, valued at approximately $437,000.

Other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Synovus Financial during the third quarter worth about $30,000. UMB Bank n.a. increased its position in Synovus Financial by 87.2% during the 3rd quarter. UMB Bank n.a. now owns 747 shares of the bank’s stock worth $33,000 after purchasing an additional 348 shares in the last quarter. Quarry LP purchased a new position in Synovus Financial in the third quarter valued at approximately $41,000. Headlands Technologies LLC lifted its position in Synovus Financial by 404.8% during the second quarter. Headlands Technologies LLC now owns 1,378 shares of the bank’s stock valued at $55,000 after buying an additional 1,105 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Synovus Financial during the third quarter worth approximately $56,000. 83.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Stephens lifted their target price on shares of Synovus Financial from $46.00 to $52.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Truist Financial upped their target price on Synovus Financial from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Synovus Financial in a report on Monday, December 9th. They set a “buy” rating and a $64.00 target price on the stock. Bank of America upped their price target on Synovus Financial from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Morgan Stanley boosted their target price on shares of Synovus Financial from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Synovus Financial currently has an average rating of “Moderate Buy” and an average target price of $57.86.

Synovus Financial Stock Performance

SNV traded up $1.00 during trading hours on Monday, hitting $51.97. 1,551,465 shares of the stock were exchanged, compared to its average volume of 1,154,694. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.58 and a beta of 1.39. The stock has a 50-day simple moving average of $54.22 and a 200-day simple moving average of $47.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.89 and a quick ratio of 0.88. Synovus Financial Corp. has a 12 month low of $33.44 and a 12 month high of $59.92.

Synovus Financial (NYSE:SNV) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. The business had revenue of $564.72 million during the quarter, compared to analyst estimates of $557.64 million. Synovus Financial had a net margin of 10.82% and a return on equity of 13.43%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. Analysts anticipate that Synovus Financial Corp. will post 4.37 earnings per share for the current year.

Synovus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 19th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $1.52 dividend on an annualized basis and a yield of 2.92%. Synovus Financial’s dividend payout ratio is currently 68.78%.

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.