New England Capital Financial Advisors LLC Sells 444 Shares of Synovus Financial Corp. (NYSE:SNV)

New England Capital Financial Advisors LLC lessened its stake in shares of Synovus Financial Corp. (NYSE:SNV) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,543 shares of the bank’s stock after selling 444 shares during the period. New England Capital Financial Advisors LLC’s holdings in Synovus Financial were worth $79,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Keystone Financial Group Inc. acquired a new position in Synovus Financial in the 4th quarter valued at $37,000. Quarry LP acquired a new stake in shares of Synovus Financial in the third quarter valued at about $41,000. Brooklyn Investment Group acquired a new position in shares of Synovus Financial during the 3rd quarter worth about $56,000. V Square Quantitative Management LLC lifted its position in shares of Synovus Financial by 69.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,138 shares of the bank’s stock worth $58,000 after purchasing an additional 466 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Synovus Financial by 474.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,466 shares of the bank’s stock valued at $65,000 after purchasing an additional 1,211 shares during the period. Institutional investors own 83.85% of the company’s stock.

Synovus Financial Price Performance

NYSE:SNV opened at $51.73 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm has a market cap of $7.33 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.11 and a beta of 1.39. Synovus Financial Corp. has a 12 month low of $33.44 and a 12 month high of $59.92. The company’s 50-day moving average price is $53.70 and its two-hundred day moving average price is $50.39.

Synovus Financial (NYSE:SNV) last announced its earnings results on Wednesday, January 15th. The bank reported $1.25 EPS for the quarter, topping the consensus estimate of $1.16 by $0.09. Synovus Financial had a return on equity of 14.70% and a net margin of 14.05%. The business had revenue of $580.58 million for the quarter, compared to the consensus estimate of $566.83 million. During the same period in the previous year, the business earned $0.80 EPS. Synovus Financial’s revenue was up 18.8% compared to the same quarter last year. On average, equities analysts anticipate that Synovus Financial Corp. will post 4.89 EPS for the current fiscal year.

Synovus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 19th were issued a $0.38 dividend. The ex-dividend date was Thursday, December 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.94%. Synovus Financial’s dividend payout ratio is 49.84%.

Analysts Set New Price Targets

SNV has been the subject of a number of research analyst reports. UBS Group initiated coverage on Synovus Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Synovus Financial in a report on Monday, December 9th. They issued a “buy” rating and a $64.00 price target for the company. Citigroup boosted their price objective on shares of Synovus Financial from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Stephens reiterated an “equal weight” rating and issued a $58.00 target price on shares of Synovus Financial in a research note on Thursday, January 16th. Finally, Evercore ISI lifted their target price on Synovus Financial from $48.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.44.

About Synovus Financial

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.