AM Investment Strategies LLC Sells 434,845 Shares of Synovus Financial Corp. (NYSE:SNV)

AM Investment Strategies LLC trimmed its holdings in shares of Synovus Financial Corp. (NYSE:SNV) by 95.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,813 shares of the bank’s stock after selling 434,845 shares during the quarter. AM Investment Strategies LLC’s holdings in Synovus Financial were worth $964,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Blair William & Co. IL bought a new stake in shares of Synovus Financial in the second quarter valued at approximately $236,000. Hsbc Holdings PLC grew its holdings in shares of Synovus Financial by 27.4% during the 2nd quarter. Hsbc Holdings PLC now owns 12,018 shares of the bank’s stock worth $480,000 after purchasing an additional 2,586 shares in the last quarter. AE Wealth Management LLC bought a new position in shares of Synovus Financial in the second quarter worth $510,000. ProShare Advisors LLC raised its stake in Synovus Financial by 93.4% in the second quarter. ProShare Advisors LLC now owns 13,810 shares of the bank’s stock valued at $555,000 after purchasing an additional 6,671 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its position in Synovus Financial by 35.4% during the second quarter. Evergreen Capital Management LLC now owns 6,779 shares of the bank’s stock worth $274,000 after purchasing an additional 1,773 shares during the period. Institutional investors own 83.85% of the company’s stock.

Synovus Financial Stock Up 0.2 %

Shares of NYSE SNV opened at $55.28 on Friday. Synovus Financial Corp. has a 52-week low of $33.44 and a 52-week high of $59.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50 day moving average price is $54.04 and its 200-day moving average price is $48.82. The company has a market capitalization of $7.83 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 1.14 and a beta of 1.39.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Equities analysts forecast that Synovus Financial Corp. will post 4.86 earnings per share for the current year.

Synovus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Thursday, December 19th. Synovus Financial’s payout ratio is 49.84%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNV. Citigroup boosted their target price on shares of Synovus Financial from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, January 17th. The Goldman Sachs Group raised their target price on Synovus Financial from $52.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Evercore ISI boosted their price target on Synovus Financial from $48.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on Synovus Financial from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Synovus Financial in a report on Monday, December 9th. They issued a “buy” rating and a $64.00 target price for the company. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Synovus Financial has a consensus rating of “Moderate Buy” and an average price target 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.